HPI: Difference between revisions
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=== Definition === | === Definition === | ||
The HPI indicator calculates the Herrick Payoff Index that is used to analyze futures and options. | |||
The Herrick Payoff Index is a technical analysis tool that is used to confirm price trends or reversals in derivatives markets using price and volume information to track money flows. Traders often use the indicator as a measure of crowd psychology and to follow money flows in order to make forward-looking decisions. | |||
<div style="background-color: #E3FBE5;">'''Note:''' Since this indicator uses Open Interest data, it can be used with daily data for futures and options only. </div> | |||
=== Default Inputs=== | === Default Inputs=== | ||
'''OneCent''', 100 by default. | '''OneCent''' sets the dollar value of a minimum move in the symbol, 100 by default. | ||
'''SmoothingFactor''', .133 by default. | '''SmoothingFactor''' sets the factor to use in the exponential moving average, .133 by default. | ||
'''AlertLength''', 14 by default. | '''AlertLength''' sets the number of bars over which to detect a divergence between Close and HPI, 14 by default. | ||
'''ColorNomLength''' sets the number of bars over which to normalize the indicator for gradient coloring, 14 by default. | '''ColorNomLength''' sets the number of bars over which to normalize the indicator for gradient coloring, 14 by default. |