Damping Index — Indicator by everget

oscillator volatility movingaverage damping index mckallip highlow equilibrium

This indicator was originally developed by Curtis McKallip Jr. (Stocks & Commodities, V.10:7 (296-299): "The Damping Index").

It indentifies bars where the highs and lows are getting close and closer. A high Damping Index value means that the difference between the high price and low price is becoming lower and the security price is reaching equilibrium. A low Damping Index value means that the difference between the high and low prices is increasing.

Good luck and happy trading!

Freelance -> Telegram: @alex_everget

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Open-source script

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