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Hi Patrick
Thanks for your advice.
The momentum indicator in the attachment was a pretty generalised one
and I am currently constructing one based on the ADX/DMI.
While I already have one I've decided to fine tune it before I post
it. Am I'm sure you are aware it's the interpretation that's most
important and I want to include that as well.
And when it comes to momentum there's plenty of interpretation to be
done.
I'll email you it direct as well.
Regds
Gerard
--- In amibroker@xxxxxxxxxxxxxxx, "NW Trader" <ta4charts@xxx> wrote:
>
> Hi Gerald,
>
> Sorry for the very late reply -- it has been a very busy week,
again, and I
> don't often get a chance to catch up intra week.
>
> For ADX studies, of course one starts with J. Wells Wilder's
seminal work
> New Concepts in Technical Trading Systems (1978). [Don't be put off
by the
> date, Wilder also developed and published RSI, PSAR, CCI, and other
basic
> tools in this book.] Other books touch on use of ADX (Cooper and
other
> traders, myself included include it as a basic method) however I'm
aware of
> very few books are devoted to it's use exclusively. One recent
publication,
> which is sitting on my desk only partially read so I can't give a
full
> review yet, is ADXcellence by Charles B. Schaap -- available from
Trader's
> Press and Shraap's own website (
> http://www.traderspress.org/detail.asp?product_id=3900
> http://www.traderdoc.com/default.asp and also soon from
> http://stockcharts.stores.yahoo.net/adbydrchsc.html ).
>
> ADX is particularly helpful to identify trends, however a variety
of systems
> have been developed involving pull backs on strong trends, momentum
changes
> of trend, +DI and -DI crossovers, MACDs of DI, etc. I'd be
interested in
> learning a bit more of your momentum indicator that was in your
attached
> chart -- is it a standard construction? I see you are using
the "standard"
> 14 period for ADX, what period are you using for the Momentum
indicator and
> do you mind sharing how it's constructed? If you're interested,
I'll dig
> around and find some of the things I've written over the years with
ADX --
> as I recall, a MACD was one of the more interesting as was a ROC
variant.
>
> Peace and Justice --- Patrick
>
>
>
>
> ----- Original Message -----
> From: Gerard Carey
> To: AB Yahoo group
> Sent: Thursday, June 01, 2006 6:15 PM
> Subject: [amibroker] ADX'ers - Riddle me this
>
>
> Hi all
>
> I noticed recently that often +DI & -DI both DECREASE on the day
> a possible entry is signalled, by price action or another
indicator.
> (See the attachment)
> This is not always the case as shown here but it appears to be
much more
> than just a coincidence.
> Anyone have any insights?
>
> It does happen on other occaisions - Could this perhaps be used
as an
> indication of trend strength, usable when holding a position?
>
> I am aware that one of the ADX nuances is to look for an entry
when the
> ADX is above both the +DI and -DI.
>
> Regds
> Gerard
> --
> Gerard Carey
> gerardncarey at fastmail dot fm
>
> --
> http://www.fastmail.fm - Does exactly what it says on the tin
>
>
>
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