momentum indicator buf

• 03/09/2023 at 12:37 PM #211229
  Banie

  Hello friends,

  If possible can someone help me fix a bug in my coding. I want to create a code using the daily volatility/atr to create a momentum indicator with levels 1,2,3,4 and 5. This is how far i got:

  Volatility[10,10] = AverageTrueRange[20](close)
  MomentumLevel = close – close[20]
  Level1 = 0.5 * Volatility
  Level2 = 1 * Volatility
  Level3 = 1.5 * Volatility
  Level4 = 2 * Volatility
  Level5 = 2.5 * Volatility

  If Momentum > Level5 Then
  MomentumLevel = 5
  Else If Momentum > Level4 Then
  MomentumLevel = 4
  Else If Momentum > Level3 Then
  MomentumLevel = 3
  Else If Momentum > Level2 Then
  MomentumLevel = 2
  Else If Momentum > Level1 Then
  MomentumLevel = 1
  Else
  MomentumLevel = 0
  EndIf

  Return MomentumLevel

   

  

  Banie

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  03/09/2023 at 12:43 PM #211232
  robertogozzi

  Line 1 is not correct, you can’t assign any value to indicators, as they can only return values.

  Else If is not allowed, the correct syntax is Elsif.

  

  robertogozzi

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  03/09/2023 at 3:13 PM #211251
  JS

  Hi @Banie,

  Hereby your custom code…

   

  Momentum Level

  xVolatility = AverageTrueRange[20](close) MomentumLevel = close - close[20] Level1 = 0.5 * xVolatility Level2 = 1 * xVolatility Level3 = 1.5 * xVolatility Level4 = 2 * xVolatility Level5 = 2.5 * xVolatility If Momentum > Level5 Then MomentumLevel = 5 ElsIf Momentum > Level4 Then MomentumLevel = 4 ElsIf Momentum > Level3 Then MomentumLevel = 3 ElsIf Momentum > Level2 Then MomentumLevel = 2 ElsIf Momentum > Level1 Then MomentumLevel = 1 Else MomentumLevel = 0 EndIf Return MomentumLevel

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

  xVolatility = AverageTrueRange[20](close) MomentumLevel = close - close[20] Level1 = 0.5 * xVolatility Level2 = 1 * xVolatility Level3 = 1.5 * xVolatility Level4 = 2 * xVolatility Level5 = 2.5 * xVolatility   If Momentum > Level5 Then MomentumLevel = 5 ElsIf Momentum > Level4 Then MomentumLevel = 4 ElsIf Momentum > Level3 Then MomentumLevel = 3 ElsIf Momentum > Level2 Then MomentumLevel = 2 ElsIf Momentum > Level1 Then MomentumLevel = 1 Else MomentumLevel = 0 EndIf   Return MomentumLevel

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  Banie

  

  JS

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