better TRIN indicator

acom

New member
@Joshua Can you or someone else can help with better TRIN indicator from website "https://emini-watch.com/trading-indicators/trin-indicator/"? I have copied the formula but don't know how to code it.
  1. Take the Log of the NYSE TRIN value
  2. Invert this value so negative values are positive and vice versa
  3. Multiply the inverted Log value by 100, and
  4. Repeat for the NASDAQ TRIN data and average the two values
  • Values range between -100 and +100, with 0 as the neutral point
  • Positive values indicate buying and a market in an upswing
  • Negative results indicate selling activity and downward moves in the market
  • Values are balanced, requiring the same amount of buying or selling for the indicator to be +100 or -100 and, therefore, averages are accurate
 
@Joshua Can you or someone else can help with better TRIN indicator from website "https://emini-watch.com/trading-indicators/trin-indicator/"? I have copied the formula but don't know how to code it.
  1. Take the Log of the NYSE TRIN value
  2. Invert this value so negative values are positive and vice versa
  3. Multiply the inverted Log value by 100, and
  4. Repeat for the NASDAQ TRIN data and average the two values
  • Values range between -100 and +100, with 0 as the neutral point
  • Positive values indicate buying and a market in an upswing
  • Negative results indicate selling activity and downward moves in the market
  • Values are balanced, requiring the same amount of buying or selling for the indicator to be +100 or -100 and, therefore, averages are accurate
HERE'S IS SOMETHING I CAME UP WITH.
def trin_nyse = close("$TRIN");
def trin_nasdaq = close("$TRIN/Q");
def log_trin_nyse = Log(trin_nyse);
def inverted_log_trin_nyse = -log_trin_nyse;
def scaled_trin_nyse = inverted_log_trin_nyse * 100;
def log_trin_nasdaq = Log(trin_nasdaq);
def inverted_log_trin_nasdaq = -log_trin_nasdaq;
def scaled_trin_nasdaq = inverted_log_trin_nasdaq * 100;
plot avg_trin = (scaled_trin_nyse + scaled_trin_nasdaq) / 2;
avg_trin.SetDefaultColor(GetColor(1));
avg_trin.SetLineWeight(2);
 

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