PB
It is average of 20 opens less average of 20 closes.
Obviously you want to see a positive figure except when it gets extreme from a bullish viewpoint.
I wrote it many moons ago and decided on 20 periods I guess through some back testing.
I have actually messed with dynamic averages at times where you let the volatility adjust the period.
I haven't with this and sure, have a play and you may do better.
PBIt is average of 20 opens less average of 20 closes.Obviously...
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