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Al Taglevore, Robert Doeden,
<<... I fail to see how the results differ from OBV.>>
Al: The formula given on this list obviously isn't the complete
indicator that Bob uses. It is only part of it.
Bob describes what it does and does not look like:
"Looks like a slow MACD with two oscillators that cross. If you have
only one line that is not what the Livewire OBTR looks like."
Looking over Bob's previous posts, especially the most recent one, I am
inclined to believe that the following formula is the same that he is
using. I compared this indicator to his observations of various markets
that he included in his last post. It APPEARS to be dead on.
It seems that when the MACD and Stochastics give buy signals, the OBTR
confirms the signal when the short-term OBTR crosses above both the
intermediate-term and the long-term OBTR.
Plot these three OBTR indicators in the same inner window and compare for
yourself.
Don't hesitate to let me know if I am wrong.
SHORT-TERM:
Mov(Cum(If(C > Ref(C,-1),1,-1) *
(If(Ref(C,-1) < L,
{Then} (H - Ref(C,-1)),
{Else}
If(Ref(C,-1) > H,
{Then} (Ref(C,-1) - L),
{Else} (H - L) )))), 10 ,E)
INTERMEDIATE-TERM:
Mov(Mov(Cum(If(C > Ref(C,-1),1,-1) *
(If(Ref(C,-1) < L,
{Then} (H - Ref(C,-1)),
{Else}
If(Ref(C,-1) > H,
{Then} (Ref(C,-1) - L),
{Else} (H - L) )))), 10 ,E),10,E)
LONG-TERM:
Mov(Mov(Mov(Cum(If(C > Ref(C,-1),1,-1) *
(If(Ref(C,-1) < L,
{Then} (H - Ref(C,-1)),
{Else}
If(Ref(C,-1) > H,
{Then} (Ref(C,-1) - L),
{Else} (H - L) )))), 10 ,E),10,E),10,E)
Ken
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