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<DIV style="FONT: 10pt arial">----- Original Message -----
<DIV style="BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> <A
href="mailto:jeyassoc@xxxxxxxxxxx"; title=jeyassoc@xxxxxxxxxxx>James E. Young</A>
</DIV>
<DIV><B>To:</B> <A href="mailto:ensign@xxxxxxxxxxxxxxxxxx";
title=ensign@xxxxxxxxxxxxxxxxxx>Howard Arrington</A> </DIV>
<DIV><B>Cc:</B> <A href="mailto:EnsignList@xxxxxxxxxxx";
title=EnsignList@xxxxxxxxxxx>Discussion Group</A> </DIV>
<DIV><B>Sent:</B> Tuesday, November 17, 1998 7:19 PM</DIV>
<DIV><B>Subject:</B> Re: HEA: Pivot Point clarification</DIV></DIV>
<DIV><BR></DIV>EnsignList - <A
href="http://www.ensignsoftware.com";>http://www.ensignsoftware.com</A> Howard
and Earl <BR> Thank you both for the explanation of the
difference. <BR> regards <BR> James Young
<P>Howard Arrington wrote:
<BLOCKQUOTE TYPE="CITE"> EnsignList - <A
href="http://www.ensignsoftware.com";>http://www.ensignsoftware.com</A><FONT
color=#000000><FONT size=-1>Hi James,</FONT></FONT> <FONT size=-1>The support
and resistance levels that the floor trades use are already built into Ensign
Windows as a draw tool. It is found on the Draw Tools panel, and
involves marking three points in its construction. As you point out, the
three primary points to mark would be yesterday's high, low and
close. From those values, the three support price levels and the
three resistance price levels are plotted on the chart as colored horizontal
lines.</FONT> <FONT color=#000000><FONT size=-1>The Pivot Point procedure that
Earl posted is totally different. His routine is marking the tops and
bottoms of swings, where each turning point is called a pivot point.
Part of the criteria for deciding if a bar is a high or low pivot is to
examine the neighboring bars on both the left and right sides. The
number of adjacent bars on each side to examine is referred to as the
Strength. In simple terms, for a bar to be a high pivot it must be
higher than its neighbors on the left, the bars to the right cannot be higher,
and the right most neighbor must be lower. For a strength of 2, two bars
on the left are tested, and two or more bars on the right are
tested.</FONT></FONT> <FONT size=-1>I described this in simple terms because
there are additional rules that tell what to do if several bars in a row all
have the same value. This condition is called a Flat, and the rules get
too complicated to describe here.</FONT> <FONT color=#000000><FONT size=-1>If
you would like to see Pivot Point in action, click on the Color Bar drop
down. Small Trend is a Pivot Point of strength 1. Minor Trend is a Pivot
Point of strength of 2, and Major Trend has a strength of 4. As color
bar study, the bars from a low swing point to a high swing point are colored
as an up trend, and the opposite as a down trend. These trends go from
one pivot point to the next pivot point. You can use these Color Bar
studies without having to write any ESPL code.</FONT></FONT> <FONT
color=#000000><FONT size=-1>Sincerely,</FONT></FONT> <BR><FONT
color=#000000><FONT size=-1>Howard Arrington</FONT></FONT> <BR><FONT
color=#000000><FONT size=-1><A
href="http://www.ensignsoftware.com/";>http://www.ensignsoftware.com/</A></FONT></FONT>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
I have been following your discussions about the the PP procedure <BR>that
was initially in TradeStation. This function/indicator seems to a <BR>bit
different from an Indicator that was presented by Joe Duffy this <BR>fall at
the annual seminar of the Canadian Society of Technical Analysts <BR>(CSTA).
The differences of the two and their objectives, in my mind <BR>needs some
clarification. <BR> Could someone please provide a
reference source that would explain <BR>the concept and objectives of the PP
procedure that Earl was so kind to <BR>post to the DG.
<P> The other piviot Point functioin that Joe presented is
listed below <BR>completed with a diagram. Joe had explained that this
concept was used <BR>by floor traders to identify the potential support and
resistance. Since <BR>they use them in futures trading it imparative that we
know about them <BR>as well..
<P>
R3-------
<P>
R2------
<P>
R1------
<P> x <--- High
<BR> x
<BR> x <--
Close O = pp
<BR> x
<BR> x
<BR> x
<BR> x <--Low
<P>
S1-----
<P>
S2-----
<P>
S3-----</P></BLOCKQUOTE>______________________________________________________________________
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Date: Sun, 23 May 1999 18:35:43 -0500
From: Craig DeHaan <cdehaan@xxxxxxxxxxxx>
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To: metastock@xxxxxxxxxxxxx
Subject: Re: Dahl's Primary Trend
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Nick,
Dahl Trend:= Mov(C,50,S) - Ref(Mov(C,50,S),-15)
I wonder if Richard still reads this list? He'd be howlin'.
Like the name says, it's a trend finder, a qualifier.
Moving up from below 0 (sometimes),
Crossing above 0 (a little better),
Pivots from above 0 (a little less so).
Test it out with your other stuff and see what's what.
CP
Nicholas Kormanik wrote:
>
> On the Silicon Investor MetaStock thread some people have spoken well of
> Dahl's Primary Trend indicator. I believe the following is the formulation:
>
> Mov(c,13,S) - Ref(Mov(c,34,S),-89)
>
> Questions: Have you folks found this particular indicator to be of value?
> What other parameters in the formula would you recommend? What indicator
> value is the buy signal?
>
> Thanks,
> Nicholas
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