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[REQ] Large Trader Proxy Index by larry williams


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Hi guys,

 

Hi guys,

 

Can someone create this indicator for MT4?

 

Large Trader Proxy Index (Formula: MovingAvgMod (Close - Close.8 , bars used in average) / MovingAvgMod (True Range, bars used in average) * 50 + 50) The only thing difference is the “bars used in average” is 40, while in the weekly index it is set at 8. 8 = 40? Why do we go change the settings from 8 bars to 40? Remember, we went from weekly charts with 8 weeks to daily, so we need to adjust the indicator for this; 8 weeks X 5 days per week = 40.

 

Would be much appreciated.

 

Many thanks in advance.

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