Real author:
Victor Chebotariov
Yaanna is the simplest indicator of the overbought/oversold states.
Application method:
Yaanna is a confirmatory indicator that must be used for a main signal check.
- We should sell or close long positions when the indicator value is above 100.
- We should buy or close short positions when the indicator value is below 0.
Similar to many other indicators, overbought/oversold position may show presence of a trend. But the market situation must also be considered.
The code was published in Code Base 26.03.2009.
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