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rev. 01/06/97 In their book "The New Technical Trader," Chande & Kroll introduce the r2 indicator. They state that "the primary use of r2 is as a confirming indicator"and that "it is a lagging indicator that shows the strength of the trend." | ||||||||
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Chande's r2 Pwr(Corr(Cum( 1 ),C,14,0),2) | ||||||||
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Chande's r2 Smoothed Mov(Pwr(Corr(Cum( 1 ),C,14,0),2)*100,14,S)
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