|
PureBytes Links
Trading Reference Links
|
I'm glad I shared my CandleStochastics code -- I'm amazed to see it
be improved upon so quickly and imaginatively by Thierry Huitel
and "Frank." To that I say Wow! and Thank You!
The Candlestochastics idea is not mine. I drew upon an article by
Rudy Teseo, "Candlestick Filtering," Stocks and Commodities, December
1999. Apologies to Mr. Teseo for not giving credit earlier.
Thierry's modification -- I agree, it was obvious on first use that
using many columns of an exploration as a 2-D grid would serve as a
visual indicator of the market as a whole. The current weak market
trend is obvious by the many hammers and the lack of morning doji
stars and bullish engulfings. Conversely, when we get the next broad
rally, I expect to see a long list of morning doji stars, bullish
engulfings and piercing lines.
Frank's modification -- you are right, it is temporally inconsistent
to mix some candles on the same day. But you could cover this with a
2 day spread instead of 3. The market conditions that will cause a
bunch of morning stars is not the same market that spawns hammers,
but hammers would coincide with the dojis that occur on Day
2 of a morning doji star. So timewise MDS = ref(Hammer, -1).
Regards,
Jim Varney
|