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Steve Nison refers to the his Disparity Index "as a percentage display of the latest close to a chosen moving average". This can be defined in MetaStock using the formula:
( ( C - Mov( C ,X ,? ) ) / Mov( C ,X ,? ) ) * 100
** where X is the number of time periods and ? is the calculation type of the moving average.
For example:
( ( C - Mov( C ,13,E ) ) / Mov( C ,13 ,E ) ) * 100
** where X = 13 time periods and ? = Exponential moving average.
For interpretation on the Disparity Index refer to Steve Nison's book Beyond Candlesticks which is available from the Equis Direct catalogue.
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