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Both codes try to answer the same question :
When the market is bullish, how many CONSECUTIVE bars is the
indicator ascending ?
Add these numbers and plot the result.
For the complementary lines, when the market is bearish we search for
the # of the CONSECUTIVE descending bars.
I hope the logic is simple.
The results give a quite accurate description of the market [thanks
to the always existing DIRECTIONALITY] without significant lag.
Dimitris
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
>
> 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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