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Hi Craig,
Thanks for the explanation of the "Q-Stick". Both of these
indicators do plot similar patterns......
"I shoulda nowed better" <g>.
Adam
----- Original Message -----
From: Craig DeHaan <cdehaan@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, June 22, 1999 10:54 PM
Subject: Re: "Body Momentum"
> Adam,
> Chande's quaking body revisited as we repeel his banana -
>
> Qstick Indicator
> The Qstick indicator was developed by Tushar Chande. Qstick provides a
> way to quantify candlesticks. The distance between the open and close
> prices lies at the heart of candlestick charting. For those unfamiliar
> with candlestick charting, the body of a candlestick is black if today's
> close is less than the open; it is white if today's close is greater
> than the open. A majority of white candlesticks over a specified range
> is considered bullish. Whereas a majority of black candlesticks over a
> specified range is considered bearish.
>
> The Qstick indicator is simply a moving average of the difference
> between open and close prices.
> For more information on the Qstick indicator, refer to the book The New
> Technical Trader by Tushar Chande and Stanley Kroll.
>
> Craig
>
> > VonHef wrote:
> >
> > I was reading in Perry Kaufman's latest book and he described a
> > little oscillator he called "Body Momentum". This simply
> > calculates the momentum of the Closes above the opens
> > versus the closes below the opens. The theory is that as prices
> > move up, closing prices will be higher than opening prices and
> > vice-versa for down. If this oscillator is above 70 then the whites
> > (Candle-sticks) dominate and below 30 the blacks are dominant.
> >
> > I also added a 3 day moving average to the calculation (for
> > smoothing).
> >
> > Here is the code:
> >
> > Lb:=Input("Look-Back Period?",3,60,14);
> > B:=CLOSE - OPEN;
> > Bup:= Sum(B > 0, Lb);
> > Bdn:= Sum(B < 0, Lb);
> > BM:=(Bup/(Bup+Bdn))*100;
> > Mov(Bm,3,S)
> >
> >
> > Best wishes,
> > Adam Hefner.
> > VonHef@xxxxxxxxxxxxx
> >
> > ---------------------------------------
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