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I agree, but perhaps "problem with the application of the formula"
would be a better way of putting what I mean. The reason for the
difference is that these angles are *not* dimensionless. This is
because, for the angle they're trying to measure, they use #periods
for the adjacent leg of the triangle, while the opposite side is in
points. So a 2% move in a $10 stock translates into a vastly
different angle than does a 2% move over the same number of periods in
a $1000 index. Put another way, the exact same angle, for the exact
same stock, would be different with split adjusted data. William
Eckhardt calls the concept of an indicator or formula being immune to
such issues dimensional coherency (which this formula lacks).
Clearly, it's an issue if you're doing an exploration and ranking
stocks by angle.
Mark
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
> The angle of QQQ *is* 4deg, the angle of ^NDX *is* 72deg and the
> formula *is* correct.
> See also #3825 message.
> DT
> --- In amibroker@xxxxxxxxxxxxxxx, "Anthony Faragasso"
<ajf1111@xxxx>
> wrote:
> > Thanks Mark.....I am looking into it.....
> >
> > Anthony
> > ----- Original Message -----
> > From: MarkF2
> > To: amibroker@xxxxxxxxxxxxxxx
> > Sent: Tuesday, June 17, 2003 3:20 PM
> > Subject: [amibroker] Re: Trendline with Degree output
> >
> >
> > Anthony- really nice, but I think there's a bug somewhere.
> Comparing
> > QQQ with NDX, I got slopes of 4 and 72 degrees respectively,
even
> > though both trendlines were 27 days and the slopes looked the
> same.
> >
> > Mark
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "Anthony Faragasso"
> <ajf1111@xxxx>
> > wrote:
> > > //Automatic Support Trendline With Degrees
> > >
> > > //Anthony Faragasso, 2003
> > >
> > > x = Cum(1);
> > >
> > > per =Param("Percent",2,0.01,3,0.01);// Sensitivity setting
> > >
> > > s1=L;//Array
> > >
> > > EndValue1 = LastValue( Trough( s1, per, 1 ) );
> > >
> > > startvalue = LastValue( Trough( s1, per, 2 ) );
> > >
> > > endbar = LastValue( ValueWhen( s1 == EndValue1, x, 1 ) );
> > >
> > > startbar = LastValue( ValueWhen( s1 == startvalue, x, 1 ) );
> > >
> > > aS = (EndValue1-startvalue)/(endbar-startbar);
> > >
> > > bS = EndValue1;
> > >
> > > trendline = aS * ( x -endbar ) + bS;
> > >
> > > //-----------------------------------//
> > >
> > > // Conversion to Degrees //
> > >
> > > //-----------------------------------//
> > >
> > > pi=4*atan(1);
> > >
> > > time=endbar-startbar;
> > >
> > > myslope=LinRegSlope(trendline,time);
> > >
> > > myradian=atan(myslope);
> > >
> > > mydegree=myradian*(180/PI);//Degrees
> > >
> > > //-------------------------------------//
> > >
> > > Plot(C,"close",colorBlack,styleCandle);
> > >
> > >
> > Plot(IIf(x>startbar-5,trendline,-
> 1e10),"Trendline",colorYellow,styleLine);
> > >
> > > direction=WriteIf(mydegree >= 0 AND mydegree <= 0.99,"Flat
> > > ",WriteIf(mydegree > 0 ,"Rising ",WriteIf(mydegree <
> 0 , "Falling ",
> > "")));
> > >
> > > DirectionColor=LastValue(IIf(mydegree >
> > 0,colorBrightGreen,IIf(mydegree < 0,
> > > colorRed,IIf(mydegree >= 0 AND mydegree <=
> 0.99 ,colorYellow,Null))));
> > >
> > > Title=Name()+"..."+Date()+"\n"+"TRENDLINE is
> > > "+EncodeColor(directioncolor)+direction+En
codeColor(colorBlack)
> +"at
> > "+"( "+
> > > WriteVal(mydegree,1)+" )"+" Degrees";
> > >
> > >
> > >
> > > //plotting ( x, y ) grid
> > >
> > > Plot(startbar==x,"",colorRed,styleHistogram|styleOwnScale);
> > >
> > > Plot(ValueWhen(startbar==x,Low),"",colorRed,styleLine);
> > >
> > > //-----------------------------------//
> > >
> > > // Automatic Anlaysis window Output //
> > >
> > > //-----------------------------------//
> > >
> > > // Settings : //
> > >
> > > // n last quotations and n=1 //
> > >
> > > // explore //
> > >
> > > //-----------------------------------//
> > >
> > > Filter=mydegree > 0 OR mydegree <0;
> > >
> > > AddColumn(mydegree,"Degree",1);
> > >
> > >
> > >
> > >
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