Bongo
Bongo Indicator
Description
The Bongo indicator was designed by a group of
traders at an HGSI seminar. The Bongo turns green when the Wilder's RSI 8, 14,
and 19 are streaming (8 over 14 over 19) and the close price is above the 9
period moving average. The bongo stays green until a down signal is detected
(RSI's streaming 8 below 14 below 19) and the close price is below the 9 period
MA at which point it turns red and stays that way until another up signal is
detected.
Category
Momentum Indicators
Parameters
None
Chart Script
RSI8:= RSI(C,8);
RSI14:= RSI(C,14);
RSI19:=
RSI(C,19);
MA9:= MA(C,9);
Up:= IF((RSI8 > RSI14) & (RSI14 >
RSI19) & (C > MA9), 1, 0);
Dn:= IF((RSI8 < RSI14) & (RSI14 <
RSI19) & (C < MA9), 1, 0);
BongoUp:EXTENDSIGNAL(Up,
Dn),stickline;
BongoDn:EXTENDSIGNAL(Dn,
Up),stickline;
@SETTEXTVISIBLE(BongoUp,false);
@SETTEXTVISIBLE(BongoDn,false);
PlotUp:
FILLRGN(BongoUp, 0, 1),ExtendLR,Brush#FF00FF00;
PlotDn: FILLRGN(BongoDn, 0,
1),ExtendLR,Brush#FFFF0000;