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My pleasure.
Steve Karnish combined LinRegSlope with Stochastic Momentum
and True Strength, all being momentum indicators in their own right.
Steve used fibonacci numbers in his formula.
I haven't. Not intentionally anyway.
>From memory, and Steve posted on this list a year or two ago, he
likes to use his indicator on less volatile stocks/whatever to catch
medium-term trend moves.
My intention was to use it to catch short-term trends using EOD data.
While I have not experimented with intraday I see no reason why a
version could not be used.
Momentum occurs in all markets and time frames.
I'm a momentum freak. I'm not AFL proficient by any means.
The important thing in my mind is to find a momentum indicator,
displaying upthrusts and retreats, that CORRESPONDS to trend line
breaks on the price chart.
I first plot long-term, medium-term, and short term trend lines on
the price chart in different colours.
Then I note where trend lines (in all three time frames) are violated
by price.
Next I manipulate a (possible) momentum formula for each time frame
until I get a match.
I plot the LT indicator as a light, dashed line, the MT indicator as
a dark, black solid line, the ST indicator as a dark, red, solid
line, and the ST indicator again, as a dark, red, histogram.
Now I've got my Market Momentum Map which I use as described in my
original post.
Now, the important question.
Is this a good momentum indicator. You bet.
Is it one of a kind, in its mathematical construction?
I have many others that display very similar results.
AB is the hero here in enabling a graphical display from which a
comprehensive understanding of the market can be obtained at a glance.
Even by a drongo like me.
Thanks again TJ
Regds
Gerard
ps. Apologies if this explanation got a little long.
--- In amibroker@xxxxxxxxxxxxxxx, "cstrader232" <cstrader232@xxx>
wrote:
>
> Yes, very interesting.... is the Kaleidoscope known to be better
for some timeframes or markets than others?
>
> thanks!
> ----- Original Message -----
> From: Steve Dugas
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Friday, May 12, 2006 2:01 PM
> Subject: Re: [amibroker] Trading the Kaleidoscope
>
>
> Very nice work Gerard - thank you for sharing!
>
> Steve
>
> ----- Original Message -----
> From: "Gerard Carey" <gcfinance@xxx>
> To: "AB Yahoo group" <amibroker@xxxxxxxxxxxxxxx>
> Sent: Friday, May 12, 2006 3:00 AM
> Subject: [amibroker] Trading the Kaleidoscope
>
>
> // Trading the Kaleidoscope
> // Developed by Gerard Carey from Steve Karnish's "CCT
Kaleidoscope"
>
> /* This formula was developed to signal short-term trend changes
> in the direction of the CONFIRMED Medium-Term trend - thus giving
both
> long and short opportunities.
> See the attachment.
>
> The red histogram plots the MT trend as being up (above zero line)
> or being down (below zero line).
> The black line plots the ST trend in the same manner.
>
> /* The long entry is signalled when the red Histogram is ABOVE
zero and
> the black ST line, after dipping below the zero line, reverses
back up
> (green arrow).
> Likewise, the Short entry is signalled when the red Histogram is
BELOW
> zero and the black ST line, after rising above the zero line,
reverses
> back down (red arrow). */
>
> // NB. Exits are NOT sigalled. As usual, signals appear more
reliable in
> less volatile markets.
>
> // Trading the Kaleidoscope
> CA=LinRegSlope(C,5)
> + 100 * ( EMA( EMA( C - Ref( C, -1 ) ,2 ) ,5)
> / EMA( EMA( abs( C - Ref( C, -1) ),2 ), 5 ) )
> +100 * ( EMA( EMA( C - (0.5 * ( HHV(H,13) + LLV(L,13))),2),5)
> / (0.5 * EMA( EMA( HHV(H,13) - LLV(L,13),2),5 ) ) );
>
> CB=LinRegSlope(C,5)
> + 100 * ( EMA( EMA( C - Ref( C, -1 ) ,2 ) ,25)
> / EMA( EMA( abs( C - Ref( C, -1) ),2 ), 25) )
> +100 * ( EMA( EMA( C - (0.5 * ( HHV(H,13) + LLV(L,13))),2),25)
> / (0.5 * EMA( EMA( HHV(H,13) - LLV(L,13),2),25) ) );
>
> Plot(CA,"Trading the Kaleidoscope",1,4);
> Plot(CB," Child",4,4);
> Plot(CB,"",4,2+4);
> Plot(0,"",4);
>
> CondA= CB>0 AND (CA<0 OR Ref(CA,-1)<0) AND CA>Ref(CA,-1)
> AND Ref(CA,-1)<Ref(CA,-2) ;
> PlotShapes( shapeSmallUpTriangle*CondA, 5,L,-100) ;
>
> CondB= CB<-0 AND (CA>0 OR Ref(CA,-1)>0) AND CA<Ref(CA,-1)
> AND Ref(CA,-1)>Ref(CA,-2) ;
> PlotShapes( shapeSmallDownTriangle*CondB, 4,H,100);
>
> --
> http://www.fastmail.fm - And now for something completely
different.
>
>
>
>
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