First of all, strong critical to S&C : because EU and RCL are clearly defined, but NOT the CBI
We have try to adapt the CBI to Prorealtime formula:
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// Expansions & Contractions by Dirk Vandycke – part 1,2,3 Marc, April, May Stocks & commodities
// true low
TL = min (close, low[1])
// relative close locator
RCL = (close – TL)/TR(close)
// Expansive urge value
EU = (close – open) / TR(close)
diff = RCL – EU
return RCL as “RCL”, EU as “EU”, diff as “diff”
// EU and RCL could be rendered as “invisible”
Wait 3 spikes for a signals: quite good but nothing special (see last frame). And this is not a very frequent indicator ==> rejected