Trading Channel Index

Trading Channel Index
Trading Channel index comes from an early version of Exchange AIQ's Expert program. "The Trading Channel Index measures the location of the average daily cost in terms of smoothed average of the average daily price. It is derived from the average difference between these two values."
To create the index trading channel in MetaStock create the following custom formula:
April +: Average price
(H + L + C) / 3
August +: smoothed average price
Mov (Fml ("+ April"), 10, E) + (Mov (Ref (Fml ("+ April"), -1), 10, E))
D + Price: range estimation
Mov ((Fml ("April>") - Fml (">")), August 10, E) + (Mov (Ref (Fml (" April> ") - Fml (" August + "), -1) 10, E))
CI +: Channel index
((Fml ("April>") - Fml ("August>")) / (0,015 * Fml ("D +")))
CHANEL Commerce Index:
Mov (Fml ("CI +"), 21, E) + (Mov (Ref (Fml ("CI +"), -1), 21, E))