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Another pair of lines may come from the respective MACD study.
Scan the N100 database, for all quotations, with
// The main N100 turning points, II
// by D. Tsokakis, Nov2004
y=DEMA(MACD(),10);
z= (y>0) * BarsSince ( y < Ref(y,-1) );
zz = (y<0) * BarsSince( y > Ref(y,-1) );
AddToComposite(z,"~z1","V");
AddToComposite(zz,"~zz1","V");
Buy=0;
to create the composites.
Then plot the results with
Plot(220,"",colorBlack,styledashed);
Plot(500,"",colorBlack,styledashed);
PER=5;
p=DEMA(Foreign("~z1","v"),PER);
t=DEMA(Foreign("~zz1","v"),PER);
Plot(p ,"p",colorTurquoise,8);
Plot(t ,"t",colorPink,8);
The turquoise peaks give the peaks of the market.
A divergence with the price chart would give more emphasis.
The pink peaks give without significant lag the market troughs.
These MACD lines may be combined with the respective StochD lines for
mutual confirmation.
See also
http://www.elitetrader.com/vb/attachment.php?s=&postid=634590
Dimitris
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
>
> The green peaks give premature exit points.
> When followed by a lower green peak [divergence] give important
exit
> points !
> [black circle]
> The respective red peaks give premature entries.
> If a divergence occurs [white circle] then some great entries are
> predicted.
> [Oct8, 2002-March24, 2004-Aug11, 2004 etc]
> Run for the N100 database, all quotations the
>
> // The main N100 turning points, by D. Tsokakis, Nov2004
> y=DEMA(StochD(),20);
> z=(y>70)*BarsSince(y<Ref(y,-1));
> zz=(y<30)*BarsSince(y>Ref(y,-1));
> AddToComposite(z,"~z","V");
> AddToComposite(zz,"~zz","V");
> Buy=0;
>
> to create the composites.
> Then see the graphs with
>
> Plot(200,"",colorBlack,styledashed);
> Plot(400,"",colorBlack,styledashed);
> PER=5;
> p=DEMA(Foreign("~z","v"),PER);
> t=DEMA(Foreign("~zz","v"),PER);
> Plot(p ,"p",colorBrightGreen,8);
> Plot(t ,"t",colorRed,8);
> CondP=Ref(p,-1)==HHV(p,3);
> CondT=Ref(t,-1)==HHV(t,3);
> p0=ValueWhen(CondP,Ref(p,-1));
> t0=ValueWhen(CondT,Ref(T,-1));
> PlotShapes(shapeCircle*(p0<Ref(p0,-1) AND Ref(p,-1)
>200),colorBlack);
> PlotShapes(shapeCircle*(t0<Ref(t0,-1) AND Ref(t,-1)
>200),colorWhite);
>
> The signal for the most recent green peak was known after the Nov18
> close.
> It was equivalent to Sell at Nov19 open !
> [A probable lower green peak above 200 will signal the end of the
> recent uptrend...]
>
> Dimitris
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