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The Relative Slope
[ http://www.amibroker.com/library/detail.php?id=43 ]
is usually a leading indicator and anticipates the future movements.
This interesting property emphasizes the directionality of the market
and the RelSlope composites peaks give a clear warning for the
upcoming zM or zS peaks.
The peak signal sometimes occurs 2 or 3 days BEFORE the zM or zS
peak.
Another very important issue : A zRS peak is never false, the zS, zM
peaks WILL ALWAYS follow .
Example: One of the most significant zRS peak occurred on Jan12,
2004. The respective zS and zM peaks occurred on Jan14[two bars
later] and Jan20 [five bars later] .
The peak of the market was on Jan20...
A zRS peak may be used for very premature exits [quick profit taking].
Since the zM and zS peaks WILL follow, it is not bad to wait for
confirmation signals and enjoy the last part of the sweet trend.
You may have a clear daily picture of the N100 market with
// The main N100 turning points
// by D. Tsokakis, Nov2004
yS=DEMA(StochD(),20);
zS=(yS>70)*BarsSince(yS<Ref(yS,-1));
zzS=(yS<30)*BarsSince(yS>Ref(yS,-1));
AddToComposite(zS,"~zS","V");
AddToComposite(zzS,"~zzS","V");
yM=DEMA(MACD(),10);
zM= (yM>0) * BarsSince ( yM < Ref(yM,-1) );
zzM = (yM<0) * BarsSince( yM > Ref(yM,-1) );
AddToComposite(zM,"~zM","V");
AddToComposite(zzM,"~zzM","V");
// Anticipating the main N100 turning points
K=EMA((H+L+C)/3,10);
S1=2*(K-Ref(K,-1))/(K+Ref(K,-1));
yRS=1000*EMA(S1,20);//smoothing
zRS=(yRS>0)*BarsSince(yRS<Ref(yRS,-1));
zzRS=(yRS<0)*BarsSince(yRS>Ref(yRS,-1));
AddToComposite(zRS,"~zRS","V");
AddToComposite(zzRS,"~zzRS","V");
Buy=0;
and the respective graphs
// The anticipating zRS
Plot(200,"",colorBlack,styledashed);
Plot(500,"",colorBlack,styledashed);
PER=5;
p=DEMA(Foreign("~zRS","v"),PER);
t=DEMA(Foreign("~zzRS","v"),PER);
Plot(p ,"pRS",18,8);
Plot(t ,"tRS",24,8);
and
// The zM
Plot(200,"",colorBlack,styledashed);
Plot(500,"",colorBlack,styledashed);
PER=5;
p=DEMA(Foreign("~zM","v"),PER);
t=DEMA(Foreign("~zzM","v"),PER);
Plot(p ,"pM",colorTurquoise,8);
Plot(t ,"tM",colorPink,8);
and
//The zS
Plot(200,"",colorBlack,styledashed);
Plot(400,"",colorBlack,styledashed);
PER=5;
p=DEMA(Foreign("~zS","v"),PER);
t=DEMA(Foreign("~zzS","v"),PER);
Plot(p ,"pS",colorBrightGreen,8);
Plot(t ,"tS",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);
Note that I have used 20-bar smoothing for the super-fast yRS.
Faster smoothing would anticipate the upcoming zS, zM peaks by MANY
bars [more than 5 !!] and I think it is dangerous [or at least
useless...].
It is better to "know" 1-2 days before and prepare your movements, 5-
6 days is too much.
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
>
> 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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