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Mikelu
<p>Elder used the 13 period EMA to calculate the elder ray which essentially
is a histogram of the difference between the lows and the ema for bear
power, and a histogram of the highs and the ema for bull power.
<p>I notice you are using the DEMA. I take it you found this to yield better
results ?
<p>Regards Martin
<p>mikelu wrote:
<blockquote TYPE=CITE><style></style>
<span class=570055019-25051999><font size=-1><font face="Arial"><font color="#0000FF">Elder
Ray (like x-ray) tries to buy on dips and sell on peaks.</span><span class=570055019-25051999></span><span class=570055019-25051999>Bull
Power= H-13dema of close</span><span class=570055019-25051999></span><span class=570055019-25051999>Bear
Power=L-13dema of close</span><span class=570055019-25051999></span><span class=570055019-25051999>When
trend is up, and bear power is negative but up from yesterday, place a
buy stop above today's high. Trail it down until it is hit.</span><span class=570055019-25051999></span><span class=570055019-25051999>When
trend is down, and bull power is positive but down from yesterday, place
a sell stop below today's low. Trail it up until it is hit.</span><span class=570055019-25051999>I'm
using 20dma slope for the trend, and also a 20-day llv stop.</span><span class=570055019-25051999></span><span class=570055019-25051999>Mike</span><span class=570055019-25051999></span><span class=570055019-25051999></span></font></font><font face="Times New Roman">-----Original
Message-----</font></font>
<br><font face="Times New Roman"><font size=-1><b>From:</b> owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]<b>On
Behalf Of</b> Mark Thompson</font></font>
<br><font face="Times New Roman"><font size=-1><b>Sent:</b> Tuesday, May
25, 1999 11:36 AM</font></font>
<br><font face="Times New Roman"><font size=-1><b>To:</b> metastock@xxxxxxxxxxxxx</font></font>
<br><font face="Times New Roman"><font size=-1><b>Subject:</b> Re: system
tests question</font></font>
<br> <font size=-1>I missed something. What is the "Elder Ray"
system? I must be getting too many emails since this one flew past
me.</font>
<blockquote
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px"><span class=430423710-25051999><font face="Arial"><font color="#0000FF"><font size=-1>I'm
working on an Elder Ray intermediate-term system that tests out well, but
I'm wondering about how it generates many more buy signals than I can take
during a market up-swing, and I could take all the fewer ones it gives
during a down period (I'm assuming they would be mainly losers.)</font></font></font></span><span class=430423710-25051999></span></blockquote>
</blockquote>
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</x-html>From ???@??? Thu May 27 08:40:00 1999
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Date: Thu, 27 May 1999 23:28:33 +0930
From: Martin Haesler <mhaesler@xxxxxxxxxxxxxx>
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Subject: Re: Built in ATR indicator vs. custom ATR
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Bob
Thank you for enlightening me on the Wilder's smoothing of the ATR.
I too had pondered this question in that my ATR plost would agree perfectly
for the period of 1 but as soon as I increased the period, I would get
different results, and now way could I figure out what smoothing was being
used.
I have now modified my ATR indicator to comply with the Wilder's smoothing
and get the identical plot.
My formula using the ABS and MAX functions is attached for interest. I don't
know whther these functions are more efficient than the IF function.
Obviously both achieve the sme result.
ATR (mine)
prd1:=input("enter ATR period",1,9999,7);
prd2:=(prd1*2)-1;
{max (absolute) of yesterday's close to today's high or today's low}
myatr1:=Max(Abs(Ref(C,-1)-H),Abs(Ref(C,-1)-L));
{max of yesterday's close to today's high or today's low or today's range}
myatr2:=Max(myatr1,H-L);
Regards ... Martin
Bob Jagow wrote:
> Sounds like you have a mailreader problem, Chris.
> the < and > were there.
> As I posted privately to Yngvi,
> Wilders(TR,periods)is just
> Mov(TR,2*periods-1,E)
>
> Bob
>
> bjagow@xxxxxxx <mailto:bjagow@xxxxxxx>
>
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Christian Baude
> Sent: Wednesday, May 26, 1999 6:17 PM
> To: metastock@xxxxxxxxxxxxx
> Cc: Equis Support
> Subject: Re: Built in ATR indicator vs. custom ATR
>
> On Wed, 26 May 1999 09:15:48 -0600, Equis Support wrote:
>
> >The actual ATR does not use a simple moving average. Welles Wilder uses
> >his own smoothing (a modified exponential average) which is the function
> >"Wilders" in MetaStock. Try you formula this way:
> >
> >periods:=Input("ATR Periods?",1,100,10);
> >TH:=If(Ref(C,-1) H,Ref(C,-1),H);
> >TL:=If(Ref(C,-1) L,Ref(C,-1),L);
> >TR:=TH-TL;
> >Wilders(TR,periods)
>
> Yngvi Hardarson [mailto:hardy@xxxxxxxxxxxxx] wrote:
>
> >ATR custom indicator:
> >periods:=Input("ATR Periods?",1,100,10);
> >TH:=If(Ref(C,-1) > H,Ref(C,-1),H);
> >TL:=If(Ref(C,-1) < L,Ref(C,-1),L);
> >TR:=TH-TL;
> >Mov(TR,periods,S)
>
> Did Equis' OLR digest the [Greater than] and [Less than] symbols?
>
> -= Chris ß =-
> Using MetaStock/FastTrack/FastRUBE/FastTools/EZPnF/TC2000
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