sherwind

MMI Signal

Trend trading strategies filtered by the Market Meanness Index.

This is a port of the experiment described at

http://www.financial-hacker.com/boosting...
http://www.financial-hacker.com/trend-de...
http://www.financial-hacker.com/trend-an...
http://www.financial-hacker.com/whites-r...

The Market Meanness Index tells whether the market is currently moving in or out of a "trending" regime. It can this way prevent losses by false signals of trend indicators. It is a purely statistical algorithm and not based on volatility , trends, or cycles of the price curve.

The indicator measures the meanness of the market - its tendency to revert to the mean after pretending to start a trend. If that happens too often, all trend following systems will bite the dust.

Inputs

  • Price Source: Either open, high, low, close, hl2 , hlc3, or ohlc4. The default value is hlc3.
  • Trend MA Type: Either SMA , EMA , LowPass, Hull MA, Zero-Lag MA, ALMA , Laguerre, Smooth, Decycle. The default value is LowPass.
  • Trend MA Period: Sets the lookback period of trend MA. The default value is 200.
  • MMI Period: Sets the lookback period of the Market Meanness Index. The default value is 300.
Apr 07
Release Notes: Fixed compilation error with recent pinescript version
Remove from Favorite Scripts Add to Favorite Scripts

Comments

Couldn't compile. Why? Thanks
Reply
Couldn't compile.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out