Mass Index

This indicator was originally developed by Donald Dorsey (Stocks & Commodities , V.10:6 (June, 1992): "The Mass Index").

Specially for @AlexMayorov:
If indicator reaches 27 and then falls to below 26.5 then it could be a signal of potential trend reversal.
Script open-source

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One other possible note of interest for Mass Index that I have noticed.... the turning points generally occur as follows : Mass Index time frame ( ie 10...13...25...50..etc.) +/- .....therefore for a time frame of 25, the turn zones are up to 27...then down below 26.5 AND down to 23 and back up above 23.5.........For a time frame of 10 for the Mass Index the zones are up to 12, then down below 11.5; and down to 8.0 and back up to 8.5; a Mass Index time frame of 50 would have turn zones between 52/51.5 and 48/48.5...etc.! I used Mass Index a lot several years ago this is something I noticed ,but I never read anything corroborating these observations !!
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everget mattsoyka
@mattsoyka, Your experience and your observations are priceless. Thanks a lot!
Everget.....just an observation for you and your followers...trend reversals also tend to occur when it dips below 23.5 ( ie 1.5 pts. below 25,just like 26.5 is 1.5 pts. above 25) ....would it be possible for you to add this feature....I would do it but I don't know pine scriptease !! Thanks Matt
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everget mattsoyka
@mattsoyka, Hi Matt. Thanks for your feedback. I will add this feature this week.
mattsoyka everget
@everget, Thanks....Mass Index is a pretty accurate indicator and works well with MACD ,Awesome Osc., etc....in my opinion . Used on its own it tends to be tough to judge as the events are occurring....but easy to see after the fact.
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wow! loveit))
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