Description
The Mass Index is a study identifying trend reversals by using the changes of daily price ranges. The Mass Index first calculates a moving average of the price range. Then the ratio of the average and its average over the same period is calculated.
It is considered a trend reversal signal, when the Mass Index surpasses the setup level and then falls below the trigger level.
Input Parameters
| Parameter | Description |
|---|---|
setup
|
The setup level. |
sm length
|
The number of bars used to calculate the averages. |
sum length
|
The number of bars used to calculate the Mass Index. |
trigger
|
The trigger level. |
Plots
| Plot | Description |
|---|---|
MassX
|
The Mass Index. |
SetupLevel
|
The setup level. |
TriggerLevel
|
The trigger level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.