James Sibbett Demand Index
Author: freemanyogie
Creation Date: 10/14/2010 7:15 AM
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freemanyogie

#1
Hi,

I am having troubles creating a script based upon James Sibbett's DI.

the formula is,

If price rise:
BP= V or volume
SP= V/p where p is the % change in price

if prices decline:
BP= V/P where P is the % change in price
SP= V or volume

becuase Pis a decimal, P is modified by multiplying it by the constant K
P= P(K)

Where C is the closing price and Va (voalatility average)is the 10 day average of the two day price range (highest high-lowest low)
if BP > SP then DI =SP/BP

I just want to know what steps should I do to create this as an indicator?

James
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Eugene

#2
Since you're a student of Dr.Bruce's course and this is somehow required by your program, maybe you should consider asking him first?

Nonetheless, hope this helps: WealthScript Programming Guide > Indicators > Custom Indicators.