Power Weighted / Weighted delta free
by Description
This custom indicator, is a difference between Power Weighted Moving Average and Weighted Moving Average.
Use for Bullish sentiment when indicator result is above the zero and Bearish when indicator result is below the zero
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Formula / Source Code
using System;
using cAlgo.API;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;
namespace cAlgo
{
[Levels(0)]
[Indicator(IsOverlay = false, AccessRights = AccessRights.None)]
public class mPWWdelta : Indicator
{
[Parameter("Period (14)", DefaultValue = 14)]
public int inpPeriod { get; set; }
[Parameter("Power (2.0)", DefaultValue = 2.0)]
public double inpPower { get; set; }
[Output("Power Weighted / Weighted delta", LineColor = "Black", PlotType = PlotType.Line, Thickness = 1)]
public IndicatorDataSeries outPWWdelta { get; set; }
double pw, summ, sumpw;
private MovingAverage _wma;
protected override void Initialize()
{
_wma = Indicators.MovingAverage(Bars.ClosePrices, inpPeriod, MovingAverageType.Weighted);
}
public override void Calculate(int i)
{
summ = 0;
sumpw = 0;
for(int j=0; j<inpPeriod; j++)
{
pw = Math.Pow(inpPeriod-j,inpPower);
summ += pw * (i>inpPeriod+1 ? Bars.ClosePrices[i-j] : Bars.ClosePrices[i]);
sumpw += pw;
}
outPWWdelta[i]= (sumpw!=0 ? summ/sumpw : double.NaN) - _wma.Result[i];
}
}
}
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