Hello,

Im making new indicator that displays Rank Correlation Index.
but I have trouble to get Rank Correlation Index because of
unable to find a appropriate function.

Someone has solutions?
Or please give me RCI indicator sample if you have.

Thanks.
Lambda

Hello,

Can you provide a description of the indicator? (no copyrighted material or 3rd party URL's are allowed). Thank you.

Regards,
Chris

sry i could not find any good example of RCI indicator written by English.
(this technical indicator maybe used by only Japan...)

so ill try to describe what RCI is.

RCI is one of the psycological indicators, shows the trend of forex.
RCI takes a value between 100% to -100%,
and this value can take by statistical method(please see also "Spearman Rank Correlation").
RCI can calculate this formuler:

RCI(%) = (1 - 6 * R / t * (t^2 - 1)) * 100

t is term (days or number of hours etx)
How to get R value is following discription:
1. if a forex market price is like this,
2007/09/26 11:00 $1.00
2007/09/26 12:00 $1.06
2007/09/26 13:00 $1.10
2007/09/26 14:00 $1.11
2007/09/26 15:00 $1.13

2. rank 1. prices like this,
rank1 is 2007/09/26 15:00 $1.13
rank2 is 2007/09/26 14:00 $1.11
rank3 is 2007/09/26 13:00 $1.10
rank4 is 2007/09/26 12:00 $1.06
rank5 is 2007/09/26 11:00 $1.00

3. calculate (rank of time - rank of price)^2 like this,
2007/09/26 11:00 is rank1 of time and rank5 of price, so (1 - 5)^2 = 16
2007/09/26 12:00 .... (2 - 4)^2 = 4
2007/09/26 13:00 .... (3 - 3)^2 = 0
2007/09/26 14:00 .... (4 - 2)^2 = 4
2007/09/26 15:00 .... (5 - 1)^2 = 16

4. sum values of 3. like this,
R = 16 + 4 + 0 + 4 + 16 = 40

5. then put 4. value into above formuler

so, this example shows RCI is,
RCI(%) = (1 - 6 * R / t * (t^2 - 1)) * 100 = (1 - 6 * 40 / 5 * (5^2 - 1)) * 100 = 100%

i want output this RCI value as indicator by VT.
and this indicator must show it every minutes for 9 days....

Click to view attachment

i have trouble in step 1. to 3.,
because these steps need array and roop proceedure.(like C/C++'s "while" statement)
in this case, above formuler's "t" is 9 days * 24 hours * 60 minutes = 12960
and i have to compare 12960 prices.
it make me sick.

thanks.
Lambda

Hello,

Given the description you've provided, I don't think it's possible to recreate this indicator in VT Trader. VT Trader's programming language does not have the ability to 'loop' or handle 'looping' routines or statements. Also, you have to understand that you only have access to the data contained within the chart you're viewing. By that I mean, for example, that on a daily chart you only have access to the open, high, low, close of each previous bar and it's not possible to 'look inside' those bars at price movement. It sounds like your indicators requires both of these functionalities.
Regards,
Chris

Hello Chris,

FXA securities provides "Chart Trader" which is very similar to VT 1.x, and it has "RCI" function.
So I'm wondering if it's possible for VT too.

I attached some screen shots.
Could you please have a look ?
If it would be implemented into VT, that's really great.

Thank you and Best regards,
Takuro

Hello,

They've implemented the indicator using an internal function, probably because the programming language used to build custom indicators isn't capable of creating it. This would be the only way it'd be possible to include in VT Trader (as an internal function), however, a RCI() function isn't currently implemented. I can submit this as a feature request for possible future development though.

Regards,
Chris

Hello Chris,

I'm really waiting for it.

Thank you for you attention.
Takuro