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To add to this may I suggest that several indicators, each in different time
frames would be expected to form part of a decision tree and confirmation
approach. For stocks the change in volume needs to be in one of the
indicators. The indicators also need to non correlated. Brown in her book
suggested composite indicators, i.e the using of the output of one for the
input of another. She never said what (except if you paid $800). Hoever I
think it was SAR/RSI but not sure.
The other factor to bear in mind is that indicators may help you get in ,
others -or perhaps the absense of something (remember Sherlock Holmes "the
dog didn't bark") to get out.
There's a good six months work in what I just wrote.
P
----- Original Message -----
From: "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Wednesday, September 05, 2001 4:45 PM
Subject: [amibroker] Re: Continuation Patterns
> Mike,
> Continuation is hot stuff. I need some time to check real time facts.
> As you know, it is easy to "decide" for last February when the Market
> is in September.
> As for O/B and O/S levels, I need to know more things about O/B and
> O/S time. The job is somehow extended and every step needs various
> cross-checks.
> My target is "moving O/S and O/B levels" as in Keltner Bands we have
> moving support and resistance instead if linear ones. I will revert
> as soon as I come to conclusions.
> Thank you for kind words.
> Dimitris Tsokakis
> --- In amibroker@xxxx, MLRobb@xxxx wrote:
> >
> >
> > Dimitris,
> >
> > Have you continued your work in regard to the refinement of range
> > levels in the reading of RSI (Wilder,etc)?
> >
> > I thought this would have been a most interesting research; nothing
> > like what you proposed modelling had been published.
> >
> > Mike
> >
> > P.S. There are a few paragraphs in Brown's book, about the
> Cardwell
> > approach to bull and bear settings which I will type to you, in the
> > event you would have interest this static approach.
> >
> > There is even the possible benefit testing such bands on your very
> > superior looking Relative Slope. M.R.
> >
> >
> >
> > --- In amibroker@xxxx, "Dimitris Tsokakis" <TSOKAKIS@xxxx> wrote:
> > > The idea:
> > > We ask for a turning point of Relative Slope in the
> > > "neutral" area [-0.5,0.5] as a continuation signal
> > > for an uptrend relatively for a downtrend
> > >
> > > /*UPTREND CONTINUATION*/
> > > K=EMA((H+L+C)/3,10);
> > > S1=200*(K-REF(K,-1))/(K+REF(K,-1));
> > > rs=ema(EMA(S1,3),3);
> > > s3= REF(RS,-1)==LLV(RS,5)
> > > AND abs(REF(RS,-1))<=0.5 ;
> > > filter=s3>0;
> > > buy=filter;
> > > numcolumns=1;
> > > column0=c;
> > >
> > > /*DOWNTREND CONTINUATION*/
> > > K=EMA((H+L+C)/3,10);
> > > S1=200*(K-REF(K,-1))/(K+REF(K,-1));
> > > rs=ema(EMA(S1,3),3);
> > > s3= REF(RS,-1)==HHV(RS,5)
> > > AND abs(REF(RS,-1))<=0.5 ;
> > > filter=s3>0;
> > > SELL=filter;
> > > numcolumns=1;
> > > column0=c;
> > >
> > > You may run the two Explorations in one.
> > > The green buy arrows indicate for a possible bullish
> > > continuation. The red sell arrows indicate for a possible
> > > bearish continuation.
> > >
> > >
> > > /*CONTINUATION*/
> > > K=EMA((H+L+C)/3,10);
> > > S1=200*(K-REF(K,-1))/(K+REF(K,-1));
> > > rs=ema(EMA(S1,3),3);
> > > s3= REF(RS,-1)==HHV(RS,5)
> > > AND abs(REF(RS,-1))<=0.5 ;
> > > s4= REF(RS,-1)==LLV(RS,5)
> > > AND abs(REF(RS,-1))<=0.5 ;
> > > filter=s3>0 or s4>0;
> > > SELL=s3>0;
> > > BUY=S4>0;
> > > numcolumns=1;
> > > column0=c;
> > >
> > > Some signals are interesting and are given at proper time.
> > > Continuation conditions is not an easy work and very few
> > > references exist, as far as I know.
> > > If there is any idea (clear and specific, not theories again)
> > > please contribute, to build up something useful for all.
> > > An interesting amount of money is hidden behind continuation
> > > patterns, as you all know.
> > >
> > > Dimitris Tsokakis
>
>
>
>
>
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>
>
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