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Hi Steve,
I use/used the WMA because hours of backtesting, along with
experience and intuition, lead me to believe that it is superior for
my needs.
Proven? Scientific? Absolutely not.
The chart on the fxstreet.com site comparing SMA's, EMA's & WMA's,
http://www.fxstreet.com/education/a48.asp
gives some idea of the reasons for my preference.
The G Indicators.
My initial thought was that their value would be in their use as
confirming indicators because they utilised a different
criteria. "Different" being the important word here.
The formulas are only a couple of days old, and the WMA lengths still
being trialled so I can't advise yet on interpretation.
But what initially caught my attention was when I plotted them under
A/D indicators and noted their performance in comparison.
The mind gallops on.
Here's another below, G6.
Kind Regards
Gerard
// G6 Plots the Short-Term group of Guppy EMA's (3,5,8,11,15)
of "Close minus Low" minus "High minus Close" as a PERCENTAGE
of "High minus Low". Blah,blah. It's probably just as easy to gain an
understanding by reading the formula.
// INTERPRETATION - AN EARLY TREND REVERSAL (especially at Mkt
tops/bots) is often, certainly not always, signalled by an all EMA
CROSSOVER. It seems to be a very responsive and IMO is probably best
used as a confirming indicator.
GraphXSpace=2;
Plot(EMA(WMA( ((C-L)-(H-C))/2 ,5)/WMA(H-L,25)*100,3)," G6 EARLY
TREND REVERSAL (esp.at MKT Tops/Bots) at all EMA CROSSOVER",27,1) ;
Plot(EMA(WMA(((C-L)-(H-C))/2 ,5)/WMA(H-L,5)*100,5) ,"",1,1) ;
Plot(EMA(WMA(((C-L)-(H-C))/2 ,5)/WMA(H-L,5)*100,8) ,"",7,1) ;
Plot(EMA(WMA(((C-L)-(H-C))/2 ,5)/WMA(H-L,5)*100,11) ,"",2,1) ;
Plot(EMA(WMA(((C-L)-(H-C))/2 ,5)/WMA(H-L,5)*100,15) ,"",4,1) ;
/*xxxx end xxxx Gerard 28 Jul 04 */
-- In amibroker@xxxxxxxxxxxxxxx, "Steve Almond" <steve2@xxxx> wrote:
Gerard,
Very interesting indicators. Why did you use WMA, rather than the
more usual
MA or EMA?
Would you care to 'indicate' how you use this group for
trading/investing?
Steve
----- Original Message -----
From: "Gerard Carey" <gcfinance@xxxx>
To: "AB Yahoo group" <amibroker@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 27, 2004 4:15 PM
Subject: [amibroker] G1, G2 & G3. Three Simple Indicators
Friends,
One regularly hears variations
of the following.
"If the Close is near to the day's High
it indicates that the Bulls rule on this day".
And presumably vice versa.
Indications eh?
Shouldn't be too dificult to find something to plot.
Here are three simple Indicators, G1, G2 & G3, based around the above
theory.
Check the attachment.
Position all three below your selected chart and observe the subtle
differences.
(A medium and a longer term indicator based on percentages will come
in
a separate post.)
Kind regards
Gerard
// G1 plots Close minus High
GraphXSpace=6;
Plot(A=WMA(WMA(C-H,25),10)," G1 C-H ",27,4) ;
Plot(AA=WMA(A,7),"",4,4) ;
Plot(A-AA,"",19,2+65536) ;
Buy=A>AA ;
Sell=A<AA ;
Color=IIf(Buy,27, IIf(Sell,4,
IIf(BarsSince(Buy)>BarsSince(Sell),7,6)));
Plot(5,"ribbon",Color, styleOwnScale|styleArea|styleNoLabel, -
0.5,100 );
// G2 plots Close minus Open
GraphXSpace=6 ;
Plot(A=WMA(WMA(C-O,25),10)," G2 C-O",27,4) ;
Plot(AA=WMA(A,7),"",4,4) ;
Plot(A-AA,"",19,2+65536) ;
Buy=A>AA ;
Sell=A<AA ;
Color=IIf(Buy,27, IIf(Sell,4,
IIf(BarsSince(Buy)>BarsSince(Sell),7,6)));
Plot(5,"ribbon",Color, styleOwnScale|styleArea|styleNoLabel, -
0.5,100 );
// G3 plots Close minus Low
GraphXSpace=6;
Plot(A=WMA(WMA(C-L,25),10)," G3 C-L",27,4) ;
Plot(AA=WMA(A,7),"",4,4) ;
Plot(A-AA,"",19,2+65536) ;
Buy=A>AA ;
Sell=A<AA ;
Color=IIf(Buy,27, IIf(Sell,4,
IIf(BarsSince(Buy)>BarsSince(Sell),7,6)));
Plot(5,"ribbon",Color, styleOwnScale|styleArea|styleNoLabel, -
0.5,100 );
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