|
PureBytes Links
Trading Reference Links
|
Cardwell usually speaks at conferences, and distributes his printed
material there. You may be able to purchase back copies from him, or
from those running the conferences. Tim Slater, at the old Computrac,
New Orleans, LA would know.
Cardwell's concept is also mentioned in "Technical Analysis for the
Trading Professional, Constance Brown, McGraw-Hill, 1999.
See a search result below:
http://www.jimwyckoff.com/others/cardwell.html
-- In http://www.jimwyckoff.com/others/cardwell.html
"DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx> wrote:
> Dear MLRobb,
> Thank you for your reply.
> You missed the reference of Mr Cardwell work. Unfortunately I am
not
> informed. If it is available, please forward.
>
> Dimitris Tsokakis
> --- In amibroker@xxxx, MLRobb@xxxx wrote:
> > Dimitris:
> >
> > You have probably a good idea. There was a body of work begun by
> > Cardwell, which observed RSI 14 tending to a 40-80 bull-band,
> > or a 20-60 bear-band:
> >
> > He introduced (I believe) the predictive concept of positive and
> > negative reversals (being inverted divergences of RSI v. Price
> > pivots); It had some beneficial predictive results concerning
> > subsequent peak and trough price.
> >
> > However, as you indicate, these ranges are not transferable from
> one
> > stock to another, necessarily, or from an index to member stocks,
> etc.
> >
> > Rather than manually adjust the RSI value, in attempt to fit
price
> > action into one of the above ranges, you seem to be striving for
a
> > more specific number, which should have good results.
> >
> > M.R.
> >
> >
> >
> > --- In amibroker@xxxx, "Dimitris Tsokakis" <TSOKAKIS@xxxx> wrote:
> > > Oversold and overbought levels are usually selected by
experience
> > and may
> > > be not satisfactory for a certain Market.
> > > We can change levels in order to give a more reliable
description
> > of the Market.
> > >
> > > 1. When we select 30, 70 , i.e. equal distance from 0, 100, we
> have
> > not any reason
> > > to do it. Perhaps 24, 70 for example would be more realistic.
> > >
> > > 2. I have the following idea:
> > > I will examine the oversold time for each stock, I will take
its
> > average and so I will
> > > define the "mean oversold time (MOT)" for the Market.
> > > This will be done for an oversold level which gives MOT >5% of
> > total days, else oversold is meaningless.
> > >
> > > 3. Then I will search for a certain overbought level which
gives
> > the same "mean
> > > overbought time". I consider this more fair for the Market,
> whereas
> > 30, 70 or 20, 80
> > > sounds abritary.
> > > In other words, I ask levels which share the time equally for
> > oversold and overbought
> > > phases.
> > >
> > > Any opinion on this ?
> > > (The thought behind the curtain is that buyers and sellers wait
> > nearly the same
> > > time interval, until they change the trend.)
> > > (formulas are almost prepared, I want to discuss the basic
> thought).
> > >
> > > Best regards
> > > Dimitris Tsokakis
|