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DT- Actually, if Elders' Market Thermometer measures how far the most
extreme point of today, either high or low, protrudes *outside* of
yesterday's range (as the original poster wrote), then it would be
more accurate to assign a value of 0 to inside days instead of
calculating abs (inside days are the only time negative values would
occur).
Temp = IIf(Inside()==1,0,Max(H-Ref(H,-1),Ref(L,-1)-L));
But good point on the relative values.
Mark
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
> A good description is at
> http://www.purebytes.com/archives/omega/2002/msg04479.html
> To avoid negative values, he calculates abs and then introduces an
> average of the temp, to define entry/exit points.
> The above description is similar to AFL
>
> TEMP=Max(abs(H-Ref(H,-1)),abs(Ref(L,-1)-L));
> Plot(TEMP,"temp",1,2);Plot(MA(temp,22),"average temp",4,1);
>
> The basic disadvantage of this temp is the deal with absolute prices.
> Recent CSCO temp is 0.3 to 0.6.
> Two years ago it was ten times today´s values.
> You may have better relative values with
>
> RELATIVETEMP=Max(abs(H-Ref(H,-1))/MA(H,3),abs(Ref(L,-1)-L)/MA(L,3));
> Plot(RELATIVETEMP,"Relative temp",1,2);Plot(MA
> (RELATIVETEMP,22),"average temp",4,1);
>
> DT
> --- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
> wrote:
> > --- In amibroker@xxxxxxxxxxxxxxx, "dtfreak1025" <dtfreak1025@xxxx>
> > wrote:
> > > Hi Group;
> > > I am trying to get the following Windows on Wall St.
> > > formula into AmiBroker.
> > >
> > > if(hi<ref(hi-1)and lo>ref(lo,-1),0,if ((hi - ref(hi,-1))>
> > > (ref(lo,-1) - lo), hi -ref(hi,-1), ref(lo,-1) - lo))
> > >
> > > The Formula is:
> > >
> > > Temperature = the greater of either (HIGHtoday - HIGHyesterday)or
> > > (LOWyesterday - LOWtoday)
> >
> > Follow this definition and simply use
> >
> > temperature=Max(H-Ref(H,-1),Ref(L,-1)-L);
> >
> > Dimitris Tsokakis
> >
> > > Elders' Market Thermometer measures how far the most extreme
> point
> > of
> > > today,either high or low, protrudes outside of yesterdays
> range.The
> > > greater the extension of todays bar outside of yesterday's, the
> > > higher the Market temperature.
> > >
> > >
> > > Any help would be appreciated
> > > TIA to all.
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