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Ton,
Thanks. I'll see if I can find Chick's book. I've been thinking
about using some kind of price look back formula in the PV Binary Wave
and Jim DeWilder just suggested one that looked at several days in a
row and gave each a plus or minus one value and added them up. I'm
thinking of doing the same at various fib number intervals. If you
have a formula other then just C < Ref(C, -47) please let me know.
Jim
-----Original Message-----
From: A.J. Maas <anthmaas@xxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Sunday, August 23, 1998 10:58 AM
Subject: Re: PV Binary Wave
>>I'd appreciate it if you would test the wave against several of your
>>stocks and make suggestions on changing any of the formulas I
>>presented. Also, I'd like your ideas for additional components.
>>Please restrict those ideas to price and volume relationships only.
>
>
>Thanks for starting this MetaList Trend indicator. Testing will
do(when time will let me).
>
>Now for a suggestion:
>A while ago I read a part of the Chick Goslin "Intelligent Futures
Trading" book and
>in chapter 5-Learning and Chapter 7-Charts, Chick refers to his
indicators used and
>also to an easy way to determine if we are in an Up trend or not
>(then especialy see Chapter 7- chart Pg1 on pag 95 - Review of April
Cattle(5 Jan))
>
>-----quote:----------
>The Direction Line(49SMA):
>The first thing I do when looking at a chart is to go back ten weeks
and circle
>a day 47 or 48 trading days ago. This gives me an instant view of how
easy or
>difficult it would be for a trend to change.
>-----unquote-------
>
>From any standard book on TA you can learn that a 50 days SMA is very
common to use
>as a way to see and determine: if there is a direction, the type of
direction and also if there
>is an Up-trend. I have re-written the Goslin indicators for Metastock
and am quite pleased
>with a spinn-off indicator from his ideas, an indicator wich provides
on todays data the prices of
>48+49 days ago. If todays close is above then we're in an Uptrend, if
not we're in a
>downtrend or non-trending(trading sideways).
>
>This indicator and the Goslin system(indicators)can then be easy
implemented in the jointly
>on the List created "MetaList Trend indicator".
>
>If you're intrested "just yell",
>
>Regards,
>Ton Maas
>Ms-IRB@xxxxxxxxxx
>
>Ps. The Chick Goslins IFT book contains 'everything' common TA books
have left out.
>
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