What is the name of BIAS indicator please?
I don't see it. Do I need to write a program for it? Thanks.
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The name of the Bias "indicator" is, surprisingly, Bias indicator:
What is the 30 Minute Bias Indicator and how can I use it?It does not seem to be an indicator per se. Rather, a repackaging of a known idea to mark the first 30..60 minutes of the trading session. Fortunately, we have a downloadable Strategy that does it:
Intraday Breakout systemIn Wealth-Lab's "Open Strategy" dialog, click "Download" and uncheck the date mark to download all uploaded strategies (this one was uploaded quite long ago).
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:)
The BIAS indicator I mentioned, measures the divergence of the price from the moving averages. Here is the link: http://www.sharechart.com.au/Education/TechnicalIndicators/Bias.htm
Its equation:
BIAS(period)= (Price-SMA(period))/SMA(period)
Thanks.
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If you don't mind replacing SMA with EMA, then Percentage Price Oscillator from Community Indicators will do the job (period1 = 1 to have a 1-day EMA of Price i.e. price untouched, period2 = your period):
Percentage Price Oscillator (PPO)Otherwise you'll have to code it:
CODE:
Please log in to see this code.
p.s. Due to its simplicity, the indicator doesn't qualify for inclusion in Community Indicators.
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Thanks,your answer is clear. :)
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