Distribution of Index

Distribution of Index

This indicator displays the distribution of values returned by the RSI, Stochastic, Williams%R and ADX indicators.

This indicator only works on v11 onwards.

Select which indicator you want to analyse with the ‘RSIndex’, ‘Stoch’, ‘WilliamsR’ and ‘ADX’ settings. The default is RSI if nothing is selected. If two are selected then it defaults to the last one selected.

‘P’ is the period setting for the index. ‘K’ is the K% setting for the stochastic index. ‘D’ is the average period used in the signal line. The signal line is just a simple moving average of the index value and is not used in the distribution calculations. You can turn this signal line display on or off with the ‘SignalLine’ setting.

You can select a start date to analyse from or set ‘StartDate’ to zero to analyse all of the data.

The distribution chart shows you where the index spends most of its time and where it spends the least amount of time. The chart has a maximum score of 100% which represents the highest scoring distribution value. The displayed value and dot show you where the index currently is on the distribution curve and how it scores compared to the maximum score.

Note: The Williams%R returned values have been changed from -100 to zero and are shown as  zero to 100 for ease of calculations in the code.

As always I advise downloading and importing the ITF file to get full functionality.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Albaran • 235 days ago #

    Hi Vonasi,

    Could you explain what “$perc[a]” is? I tried to apply it but it keeps telling me there’s an error..

    • Nicolas • 235 days ago #

      Code compatible only with version 11, as it is written in bold in the text of this post: This indicator only works on v11 onwards.

  2. Albaran • 235 days ago #

    Ah I had hoped it was a problem unrelated to the version of prorealtime! We’ll keep waiting on the new release then 🙂

  3. woktrade • 65 days ago #

    Superbe !

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