Calculates an estimate of the “noise” in the market over the specified number of bars. Noise is defined as the maximum absolute deviation from the momentum trend line. The momentum is calculated over the number of bars specified. This estimate can be helpful in placing stops outside the noise of the market.

Syntax:

MarketNoise(series, bars)

 

Parameter:

Description:

series

The name of the series.

bars

The number of bars over which to calculate noise amount.

 

Returns:

Estimate of market noise indicators showing how each of the three different number of records influences results.

Click to Expand; Click to Reduce

Market Noise Function with 3 different Period Lengths.

 

Market Noise Indicator Parameters

 

Example:

'  --------------------------------------------------------------
'  UPDATE INDICATORS SCRIPT - START
'  ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
'  Delay Calculations until enough records are available
If instrument.bar > iBarCount1 THEN
  '  Max absolute deviation from the momentum trend line - IPV.
  aPlotMktNoise1 = MarketNoise(instrument.close, iBarCount1 )
ENDIF
'  Delay Calculations until enough records are available
If instrument.bar > iBarCount2 THEN
  '  Max absolute deviation from the momentum trend line - IPV.
  aPlotMktNoise2 = MarketNoise(instrument.close, iBarCount2 )
ENDIF
'  Delay Calculations until enough records are available
If instrument.bar > iBarCount3 THEN
  '  Max absolute deviation from the momentum trend line - IPV.
  aPlotMktNoise3 = MarketNoise(instrument.close, iBarCount3 )
ENDIF
'  ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
'  UPDATE INDICATORS SCRIPT - END
'  --------------------------------------------------------------

 

 

 


Created with Help & Manual 7 and styled with Premium Pack Version 2.80 © by EC Software