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Random Walk Index Indicator

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Summary: The Random Walk Index (RWI) compares price movements to a random sampling to determine if it's engaged in a statistically significant trend.
Random Walk Index the Charts
According to investopedia, this indicator was created by Michael Poulos in order to determine if a security's current price action is exhibiting'random walk'or is the result of a statistically significant trend, higher or lower.
Key concepts:
  • Contains two trend lines; High and Low, which measure the uptrend and downtrend respectively.
  • When the High is above the Low it means there is more upward strength than downward strength, and vice versa.
  • When either the High or the Low is above one, it indicates a strong, non-random trend is present.
The parameters of the RWI can be changed by locating and opening the Javascript Code under Data Building Procedure -> Procedure Loop under "Random Walk Index" Product Definition.
RWI Products & Properties
Product Setting Product Variable Properties
Random-Walk-Index RWI rwiHigh, rwiLow
Example:
A simple strategy can be built by entering a trade when the High value is above the Low, and above one: 
 chart.at01hs.RWI.rwiHigh > chart.at01hs.RWI.rwiLow && chart.at01hs.RWI.rwiHigh > 1
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quantum Data Mine — TOC

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1. quantum By @quantum8

2. Keltner Channel - quantum Indicator

3. Moving Volume Average Price (MVWAP) - quantum Indicator

4. Parabolic Stop and Return (PSAR) - quantum Indicator

5. Beep Boop - quantum Indicator

6. Choppiness Index - quantum Indicator

7. Choppy - quantum Indicator

8. Williams Fractal - quantum Indicator

9. Heikin Ashi Relative Strength Indicator - HARSI

10. Elder's Force Index Indicator

11. William's Percent Range Indicator

12. Random Walk Index Indicator

13. TRIX Indicator

14. Worden Stochastic Indicator

15. Accumulation Distribution Line Indicator

16. VADER Indicator

17. Coppock Curve Indicator

18. Quantitative Qualitative Estimation

19. Vortex Indicator

20. KDJ Indicator

21. HARSI-BB

22. Braid Filter

23. QQE Mod

24. Jurik Volatility

25. MOBO

26. Momentum Bars

27. Inside Bars