Psychological line (PSY), as an indicator, is the ratio of the number of
rising periods over the total number of periods. It reflects the buying
power in relation to the selling power.
If PSY is above 50%, it indicates that buyers are in control. Likewise,
if it is below 50%, it indicates the sellers are in control. If the PSY
moves along the 50% area, it indicates balance between the buyers and
sellers and therefore there is no direction movement for the market.
May I seek your assistance in converting the following tradingview code to prorealcode?
// Psychological line (PSY), as an indicator, is the ratio of the number of
// rising periods over the total number of periods. It reflects the buying
// power in relation to the selling power.
//
// If PSY is above 50%, it indicates that buyers are in control. Likewise,
// if it is below 50%, it indicates the sellers are in control. If the PSY
// moves along the 50% area, it indicates balance between the buyers and
// sellers and therefore there is no direction movement for the market.
////////////////////////////////////////////////////////////
study(title=”Psychological line”)
Length = input(20, minval=1)
xPSY = sum(close > close[1],Length) / Length * 100
clr = iff(xPSY >= 50, green, red)
p1 = plot(50, color=black, title=”0″)
p2 = plot(xPSY, color=blue, title=”PSY”)
fill(p1, p2, color=clr)
.
