HPotter

Commodity Selection Index

The Commodity Selection Index ("CSI") is a momentum indicator . It was
developed by Welles Wilder and is presented in his book New Concepts in
Technical Trading Systems. The name of the index reflects its primary purpose.
That is, to help select commodities suitable for short-term trading.
A high CSI             rating indicates that the commodity has strong trending and volatility
characteristics. The trending characteristics are brought out by the Directional
Movement factor in the calculation--the volatility characteristic by the Average
True Range factor.
Wilder's approach is to trade commodities with high CSI             values (relative to other
commodities ). Because these commodities are highly volatile, they have the potential
to make the "most money in the shortest period of time." High CSI             values imply
trending characteristics which make it easier to trade the security.
The Commodity Selection Index is designed for short-term traders who can handle
the risks associated with highly volatile markets.
Remove from Favorite Scripts Add to Favorite Scripts
////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 18/04/2014
// The Commodity Selection Index ("CSI") is a momentum indicator. It was 
// developed by Welles Wilder and is presented in his book New Concepts in 
// Technical Trading Systems. The name of the index reflects its primary purpose. 
// That is, to help select commodities suitable for short-term trading.
// A high CSI rating indicates that the commodity has strong trending and volatility 
// characteristics. The trending characteristics are brought out by the Directional 
// Movement factor in the calculation--the volatility characteristic by the Average 
// True Range factor.
// Wilder's approach is to trade commodities with high CSI values (relative to other 
// commodities). Because these commodities are highly volatile, they have the potential 
// to make the "most money in the shortest period of time." High CSI values imply 
// trending characteristics which make it easier to trade the security.
// The Commodity Selection Index is designed for short-term traders who can handle 
// the risks associated with highly volatile markets.
////////////////////////////////////////////////////////////
fADX(Len) =>
    up = change(high)
    down = -change(low)
    trur = rma(tr, Len)
    plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, Len) / trur)
    minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, Len) / trur)
    sum = plus + minus 
    100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), Len)

study(title="Commodity Selection Index", shorttitle="CSI")
PointValue = input(50)
Margin = input(3000)
Commission = input(10)
Length = input(14)
K = 100 * ((PointValue / sqrt(Margin) / (150 + Commission)))
xATR = atr(Length)
xADX = fADX(Length)
nADXR = (xADX + xADX[Length]) * 0.5
xCSI = K * xATR * nADXR
plot(xCSI, color=green, title="Commodity Selection Index")
DONATE/TIP

BTC: 1Lo1GoTNsPbrjGAgPgF4MYZPhBFdoVHaTm
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out