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Basic ADVFN Video Help
ADVFN HomeHelpChartsStudiesPath Length
  Adaptive Moving Average
  Average True Range
  Bid Offer spread
  Bollinger Bands
  Bollinger Band Width
  Buy/Sell Volume Ratio Moving Average
  CCI/MA Crossover
  CCI, The Commodity Channel Index
  Chaikin's Money Flow Persistence
  Chaikin Volatility
  Chande's Momentum Oscillator
  Chart Studies
  Choppiness Index
  Coppock Curve
  Delta Weighted Moving Average
  Detrended Price Oscillator
  Disparity index
  DMI Direction Movement Indictor
  Donchian Channels
  Exponential Moving Average
  Fast/Slow Kurtosis
  Fractal Dimension
  High/Low Moving Average
  Ichimoku Kinko Hyo
  JCM Study
  Keltner Bands
  Level 2 Scope
  Linear Regression
  Linear Regression Detrended Price
  MACD Histogram
  MACD, Moving Average Convergence Divergence
  MA Envelopes
  Mass Index
  Money Flow
  Moving Average
  On Balance Volume
  Parabolic SAR
  Path Length
  Point and Figure
  Price Oscillator
  Rate of Change
  RSI, Relative Strength Index
  Skew Bands
  Std Deviation
  The Chaikin Money Flow
  The Chaikin Oscillator
  Three Line Break
  Triple Moving Average
  True Strength Indicator
  Ultimate Oscillator
  Volatility Ratio
  Volume Accumulation
  Volume AMA
  Volume Efficency
  Volume EMA
  Volume MA
  Volume Oscillator
  Volume Weight Moving Average
  Weighted Moving Average
  Williams %R

Path Length

The path length is calculated by added the lengths of each of the lines connecting either last periods close to open to low to high to close, or close to open to high to low to close, which ever is the highest. The vertical (price) step is scaled so that the average movement (along the whole of the chart) has a length of 1. And this quantity is divided by four so that one time period moving with a price movement in a straight line, has a path length of 1.

Since the variation in the path length very rapid, we smooth it using a (simple) moving average of a given period, which may be editted using using the edit dialog box.

The Path length shows how wiggly the symbols price movement is at any time, and is related to the fractal dimension of the symbol movement.

Sudden jump in path length signal a period of rapid changes in price, which may preceed a reverse of a trend.

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