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It is obvious that the writer does not know AddToComposite()
function.
It would be better to make a more proper use of the word
"only".
The described indicator is nothing but a good excersise for
amibroker users.
I used my ^NDX database and run for all stocks, all quotations
the
<FONT
color=#000000>
AddToComposite(C>MA<FONT
size=2>(C,40),<FONT
size=2>"~>ma40",<FONT
size=2>"v"<FONT
face="Times New Roman">);<FONT
face="Times New Roman">
Buy=0<FONT face=Verdana
size=2><FONT
face="Times New Roman">;
Then, in an empty IB
window, I pasted the
<FONT
face=Verdana size=2>
Above40MA=100*<FONT
size=2>Foreign(<FONT
size=2>"~>ma40","v"<FONT
size=2>)/101<FONT face=Verdana
size=2><FONT
face="Times New Roman">;<FONT face=Verdana
size=2>
Plot(Above40MA,""<FONT
size=2>,1,<FONT
size=2>1<FONT
face="Times New Roman">);<FONT face=Verdana
size=2>
Plot((Above40MA>70<FONT
size=2>)*70,<FONT
size=2>"",0<FONT
size=2>,2<FONT face=Verdana
size=2><FONT
face="Times New Roman">);<FONT face=Verdana
size=2>
Plot((Above40MA>70<FONT
size=2>)*Above40MA,"",<FONT
size=2>4,2<FONT face=Verdana
size=2><FONT
face="Times New Roman">);<FONT face=Verdana
size=2>
Plot((Above40MA<20<FONT
size=2>)*Above40MA,"",<FONT
size=2>0,2<FONT face=Verdana
size=2><FONT
face="Times New Roman">);<FONT face=Verdana
size=2>
Plot((Above40MA<20<FONT
size=2>)*20,<FONT
size=2>"",5<FONT
size=2>,2<FONT face=Verdana
size=2><FONT
face="Times New Roman">);
The whole procedure
is not that bad.
The basic indicator
needs some smart smoothing to avoid whipsaws and premature
exits.
A DEMA(Above40MA,10) or a DEMA(Above40MA,20) would be just fine.
and it seems to work
nicely with Buy=cross(Above40MA,20). As for sell, it would be better to wait for
<FONT
face="Times New Roman">Sell=cross(70,Above40MA), to enjoy the greatest part of
the main uptrends.
Play also with
different composites, using PER=variable, C>MA(C,PER), it may be
interesting.
After this, someone
should inform the author for amibroker .
Dimitris Tsokakis
///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Below, I have copied information on the T2108 indicator that
Worden Bros. includes in their daily downloads of data. Gary Smith seems
to think it is a decent market condition indicator. I am not yet
capable of doning any coding, so if someone decides to write Amibroker
code that will allow this so it can be displayed in Amibroker, I
would appreciate your posting it here in this group. I use the free yahoo
EOD data. Ron D
<FONT face=Arial
size=2>==========================================================================================
An Update on the Trusty
T2108<IMG border=0 height=5
src=""
width=1>By <A
href="">Gary B.
SmithSpecial to RealMoney.com<FONT
face=Verdana>04/10/2003 08:31 AM
EDT<A class=leftNavLinks
href=""
>Click here for more
stories by Gary B. Smith
Has <A
href=""><FONT
color=#000066>T2108 nailed it again? You'll recall that I've been
using this chart -- which is nothing more than the percentage of NYSE
stocks over their 40-day moving average -- as somewhat of a buy/sell oscillator.
When the percentage gets above 70%, that marks a top. When it gets down into the
mid-20% range, it's a buy. Down much lower, and it's a bottom.
<A
href=""> Now,
on April 2, it finally climbed into the 70%-plus range, and I <A
href=""><FONT
color=#000066>noted it might be time to sell. Since then? Despite
some good openings, the S&P has not closed higher than it did on
April 2 and is now down 1.7% since that day!
Interesting stuff, and I'll keep you posted.
(Oh, I'll save you the trouble of asking. I've looked,
and this chart is only available via Worden Brothers' TC2000
software.)
<FONT
color=#ff0000>
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