David Varadi's AggregateM++ Mean Reversion Oscillator V1
Quote from the link below:
"The Aggregate M indicator is based on the concept that in the long term the market trends, while in the short-term the market is noisy, and has a tendency to mean-revert. Why not combine the two concepts to keep life simple? The Aggregate M is supposed to reflect an adjusted median that is filtered for short term noise. The median is a far more accurate measure of central tendency than a simple average especially with noisy data. Taking a superior measure of trend and filtering out some of the noise by adjusting for short-term mean reversion creates an even better median. The Aggregate M is now both trend and mean-reversion rolled into one."
Full details here
Note: I have changed David's variable names and used percentage values instead of decimals.
Please read the comments within the code itself.
"Ported" from my NT8 version here. Also available in NT7 here.
Thanks to kareem40 who requested this conversion.
Category ThinkOrSwim
|
|
|
View Download Details
