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- 2018.09.27 15:42
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The Demand_Index indicator developed by James Sibbet combines the price and volume, and is often considered a leading indicator of price change.
It has one configurable parameter:
- Period - calculation period.
James Sibbet defined six "rules" for the demand index:
- Divergence between the demand index and the price indicates the forthcoming price reversal;
- The price often reaches new highs after the extreme peak of the demand index (the index acts as a leading indicator);
- High price with a lower demand index peak usually coincides with an important peak (the index acts as a confirmation indicator);
- The demand index, which breaks the zero level, indicates a trend change (the index acts as a confirmation indicator with a delay);
- If the demand index constantly fluctuates around zero, then the current price trend has a weak potential and will not last long;
- A significant long-term divergence between prices and the demand index indicates an important market top or bottom.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21740
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