Random Walk Index

The Random Walk Index is an indicator that seeks to determine whether the price movement of a financial instrument is random or a consequence of a statistically significant and therefore more reliable trend. The indicator is composed of two bands RWI and RWI Low, the first identifies the long trends, the second identifies the short trends. For convenience, we recommend displaying the histogram indicator.
The interpretation is very simple, the greater the width of the range between the two bands drawn the greater the strength of the trend, long or short based on which of the two is above the 0 line.