Contents x
    Mass Index
      • Dark
        Light
      Contents

      Mass Index

        • Dark
          Light
        Article summary

        Mass Index is an indicator that helps identify trend reversals. It is calculated as the sum of 9-bar Exponential Moving Average (EMA) for daily price changes (high - low) divided by 9-bar EMA applied twice to that range. The indicator provides setup and trigger lines which are used to identify trend reversal: the index line should surpass the setup line and then drop below the trigger line.

        Mass Index = Sum1..25 [9-period EMA (High - low) / 9-period EMA (9-period EMA (High - Low))]

        where:
        EMA – Exponential Moving Average

        Mass IndexMass Index

        INPUTS

        InputDescription
        SetupThe value to fix the setup level at
        TriggerThe value to fix the trigger level at
        LengthThe number of bars used to calculate the EMAs
        SumLengthThe number of bars used to calculate the Mass Index

        PLOTS

        The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

        PlotDescription
        MIThe Mass Index plot
        TriggerThe trigger level
        SetupThe setup level
        Color

        Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

        Palette
        To create a custom color:
        1. Clickto open the color picker
        2. By using the slider at the bottom, adjust the main color
        3. Then, set a shade for the main color on the palette

        The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

        Weight
        Change the value (in px) to adjust the thickness of the plot.
        Type
        The following plot types are available:
        • Linear. The plot is displayed as a line.
        • Column. The plot is displayed as a histogram.
        • Difference. The plot is displayed as a line which represents the difference between High and Low prices of the bar.
        • Points. The plot is displayed as points.
        • Text above candle. The plot is displayed as the price labels above candles on the chart.
        • Text below candle. The plot is displayed as the price labels below candles on the chart.
        • Triangle above candle. The plot is displayed as triangles above candles on the chart.
        • Color candle. The candles on candle-type charts are highlighted with specified colors.

        OVERLAYING

        Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

        Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE
        What's Next