momentum indicator buf

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03/09/2023 at 12:37 PM #211229 quote

Banie
Participant

Average

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

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

robertogozzi
Moderator

Legend

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.

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

Master
Hi @Banie,

Hereby your custom code…
```
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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