| From page 613 of Trading Systems and Methods, 3rd Edition, by Perry
J. Kaufman, the Efficiency Ratio is defined as: ER =
Net
Price Change
Sum of price changes as positive
values
The MetaStock code for this is:
-------------
TimePeriods := Input("Time periods",1,10000,10);
(Abs(CLOSE - Ref(CLOSE,-TimePeriods)))/
(Sum(Abs(CLOSE-Ref(CLOSE,-1)),TimePeriods))
-------------
--Jon |
