ELA CODE - > CHANDE'S RAVI

["Andy Dunn" <andy@xxxxxxxx>]

as promised...no bickering and 3...yes 3 pieces of code...here is the third

if you pee your panties over ADX, then you're going to want to play with RAVI

WARNING: I make this stuff up as I go,  and if my spelling is any indication, this programming may be riddled with unintentional and intentional freaky stuff. Please feel free to correct me where logic and code do not co-incide.

CHANDE'S RAVI

What Does It Do
//////////////////////////
This is another indicator used to predict trends...just like ADX. I read about it 2 weeks ago. Chande's latest book "BEYOND TECHNICAL ANALYSIS" is perhaps the best technical trading book that I have read in the last year. Check it out at Amazon for $56. If RAVI is over 3%, there is a trend. 
http://www.amazon.com/exec/obidos/ASIN/0471161888/o/qid=907534867/sr=2-1/002-8108689-9755207

Enjoy

{Chande's RAVI}
{Indicator}

Value1= average(close,7);
value2=average(close,65);
value3 = absvalue(100 * (value1 - value2) / value2);

plot1 (value3, "RIVA");
plot2( 3 , "3%");