A technical oscillator developed by Tom DeMark to determine overbought and oversold conditions for the currency pair under study. A reading above 0.7 is considered overbought and a bearish reversal may be imminent. A reading below 0.3 is considered oversold and a bullish reversal may be in the making.
Calculation:
If High(i) > High(i-1) then DeMax(i) = High(i) – High(i-1) else DeMax(i) = 0
If Low(i)
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