DeMarker should be interpreted as other overbought / oversold indicators such as RSI with the levels of 30 and 70. Compared to RSI it is smoother but still able to detect tops and bottoms a little bit better.
Parameters
HIGHM (HIGHM = 0)
LOWM (LOWM = 0)
demarker (demarker = 0)
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IF (DHigh(0) > DHigh(1)) THEN HIGHM= DHigh(0)-DHigh(1) Else HIGHM =0 Endif IF (DLow(0) < DLow(1)) Then LOWM= DLow(1)-DLow(0) Else LOWM = 0 Endif demarker = 100*summation[13](HIGHM)/(summation[13](LOWM)+summation[13](HIGHM)) return demarker |
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