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I've been working on writing an indicator that will show whether or
not a stock has been trading in a tight range or loose range. Does
anyone have any recommendations on an existing indicator that performs
this task? My time frame would be from 21 to 50 lookback days.
Here's what I've come up with so far. I apply a 21 EMA to this
indicator. If the indicator is falling, or is below, say, .2, it
indicates a tight range. If above this level, a loose range. Please
feel free to suggest changes to improve its accuracy. Thanks much,
M
((((HHV(C,9) - LLV(C,9)) / LLV(C,9))) +
(((HHV(C,50) - LLV(C,50)) / LLV(C,50))) +
(((HHV(C,21) - LLV(C,21)) / LLV(C,21)))) / 3
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