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<SPAN
class=743280301-07032003>Similar but quite different. the formula for OBV
is.....
<FONT
color=#282828>
prevclose = Ref( Close,
-1
);
signum = IIf( Close ==
prevclose, 0, IIf( Close < prevclose, -1,
1 ) );<FONT
color=#000000><FONT
face=Arial>
Graph0 = 0.001 * Cum( signum * Volume<FONT
color=#282828> );
<SPAN
class=743280301-07032003>As such it does not take into account the position of
the close within the day range. This is a key component of Chaiken (and Twiggs)
work. Closes in the top end of the range indicate accumulation while closes in
the bottom end indicate distribution. The smoothing component then takes some of
the daily whip saws out.
<SPAN
class=743280301-07032003>
<SPAN
class=743280301-07032003>While a line chart looks similar, try plotting the 2
as a histogram and I think you will see a different message being portrayed.
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Anthony Faragasso
[mailto:ajf1111@xxxxxxxx]Sent: Thursday, March 06, 2003 7:08
PMTo: amibroker@xxxxxxxxxxxxxxxSubject: Re: [amibroker]
Re: Twiggs Money Flow formulaYuki, Good
call....attached is an image of the Twiggs formula and OBV() plotted inthe
same window...the red is the Twiggs formula and white is the OBV()...
Anthony -------Original Message------- From:
amibroker@xxxxxxxxxxxxxxx Date: Thursday, March 06, 2003 18:30:35 To:
Jayson Subject: Re: [amibroker] Re: Twiggs Money Flow formula All,
As most of us know, there is little in TA that is not a derivative of
something else in TA, often just a rehash or slight modification. So
it seems to me that this Twiggs indicator is just OBV in drag. ^^_^^
Best, Yuki mailto:yukitaga@xxxxxxxxxxxxx
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