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I normally don't use the ratio adjusted Summation index.
I use the "traditional Summation" to graph my charts.
I like to look at them again to see what I am seeing in the market
today.
What's interesting here this October its setting up the same
Summation pattern as in October 1987 before the crash that wiped out
half the fortunes of the investors in 4 period hours in the market.
This index saved me from being a victim on this and I had money to
spend at the bottom.
When its moved below the zero line, I will exit "pronto"!
Can this happen again, its very much possible???
With the US Dollar Index falling here to much lower levels soon to
the 81 level. A development maybe in Argentina like a "bank run"
may happen again.
--- In amibroker@xxxxxxxxxxxxxxx, Sidney Kaiser <s9kaiser@xxxx>
wrote:
> Don't know much about applying MACD to the summation index (MCS)
as I
> normally just use an MA on it.
>
> The ratio adjusted index is used to retain historical trigger
levels like
> "more than x level means yyy" type of thing. Twenty years ago or
so there
> were ~1500 mostly common stocks traded on the NYSE. Today we have
~3500
> issues traded there with a large number of issues other than US
common
> stocks. You can use a ratio of the present # of issues divided by
some
> historical # of issues like 1500 to adjust the advancing and
declining
> numbers used to calculate the MCO and MCS. This keeps the
interpretation
> of numeric levels more or less consistent with past research.
>
> As I mentioned some people also adjust for those non common stocks
as well
> as ratio adjustments.
>
> Sid
>
> At 10:24 PM 9/26/2003 -0400, you wrote:
>
> >Sid/anyone: what is the "Ratio adjusted" summation index and how
does
> >its calculation differ from the Index that is not ratio adjusted??
> >
> >I came upon an interesting indicator (actually a pair of
indicators),
> >and I am trying to get them programmed into AB in order to do some
> >backtesting. You have to go to stockcharts.com to see it...
> >
> ><http://stockcharts.com/def/servlet/SC.web?c=$NASI,uu[l,a]daclynay
[dd][ph>http://stockcharts.com/def/servlet/SC.web?c=$NASI,uu[l,a]
daclynay[dd][ph
> >.02,.20][iLah12,26,9]&pref=G
> >
> >Cut and paste into your address window if the email line gets word
> >wrapped.
> >
> >This URL to stockcharts will show the $NASI and SAR of the
$NASI. That
> >in itself looks promising but the chart also shows the 12,26,9
MACD.
> >Based on the way stockcharts works, this MACD is of the $NASI.
> >
> >I have an AFL for the Summation index, and I applied the SAR to
it...so
> >far so good. But when I plot a 12/26/9 MACD of my version of the
> >Summation index, it does not match the MACD on the stockcharts
> >chart--not by a mile.
> >
> >So, hence my question about "ratio adjusted". Also, the y axis
values
> >on my chart are not anywhere near those on the SCharts chart
(having no
> >doubt to do with the constant that starts the series), but the
SHAPE
> >seems very close if not identical. So a related question is:
will the
> >MACD function produce the correct looking histogram if the EMAs
which go
> >into its calculation are off of a similarly shaped chart, but one
with
> >different y axis values?
> >
> >That sounds confusing even as I write it, but perhaps you will
> >understand what I mean.
> >
> >Any comments?
> >
> >Ken
> >
> >-----Original Message-----
> >From: Sidney Kaiser [mailto:s9kaiser@x...]
> >Sent: Friday, September 26, 2003 8:04 PM
> >To: amibroker@xxxxxxxxxxxxxxx
> >Subject: Re: [amibroker] Re: McClellan Summation
> >
> >Most people just add a "fudge factor" to the summation value
until it
> >matches the vendor they use for some specific date...like today.
It
> >should
> >continue to match in the future if you use the same advance
decline
> >values
> >that the vendor uses. Many vendors try to compensate for
preferred
> >stocks,
> >ADRs, bond type closed end funds, foreign issues etc so there are
many
> >values of the summation index floating around out there.
> >HTH
> >Sid
> >
> >
> >
> >
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