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<DIV><FONT face=Arial size=2>Hi List</FONT></DIV>
<DIV><FONT face=Arial size=2>Has anyone heard of the Ron Meisels
Indicator? I would like to know the Metastock formula for it. </FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>wallie.</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Mar 28 23:03:46 2000
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From: Christian Baude <BAUDECB@xxxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx
Subject: Re: Ron Meisels
Date: Mon, 27 Mar 2000 20:28:27 -0500
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Status: RO
On Mon, 27 Mar 2000 22:22:00 +0100, you wrote:
>Has anyone heard of the Ron Meisels Indicator? I would like to know
>the Metastock formula for it.
Hi wallie,
Here goes. From my files. You are on your own, its from your side of
the pond. System untested.
-= Chris ß =-
Using FastTrack/FastRUBE/FastTools/Trade/EZPnF/PSM/MetaStock
FastBreakPro
=======================================================
Meisels Indicator - Ron Meisels of Nesbitt Thompson Inc., Montreal.
Count of the number of days for which the share prices, etc has risen
or fallen over a moving ten day period. Number of falls is subtracted
from the number of rises and the surplus is plotted as a positive or
negative number on the chart. (aka: It is calculated on the closing
price over a ten day period. Each day it close higher +1 is registerd,
each day it closes lower -1 is registerd. It it is unchanged 0 is
registerd. Then over the ten day period the lows are subtracted from
the highs and this result is plotted. His theory is the stock was
overbought at +6 and oversold at -6).
ie: No Rises(over last 10 days) - No Falls (over last 10 days)
Sum(If(C > Ref(C,-1), +1, If(C < Ref(C,-1), -1, 0)),10)
Max. and min. obviously +/-10, becomes overbought or oversold at +/-
6. Note: Can use any period ie: 50 days but 10 days is the default.
You take the last ten trading days' data and see whether the price has
fallen or risen (from the previous day), as given in the following
example:
Week 1 Week 2
=========== ===========
Mon: Up Mon: Up
Tue: Down Tue: Up
Wed: Up Wed: Down
Thu: Up Thu: Down
Fri: Down Fri: Down
You then add up all the "Up"s and subtract the total of all the
"Down"s from it. The result is the Meisels Indicator. In the example
above, there are 5 ups and 5 downs; so the indicator would be 0.
Obviously, in a given period, the indicator cannot be more than +10 or
less than -10. Thus, the overbought/oversold conditions are
represented by the +6/-6 lines respectively.
In practice and it seems quite crude. However, once its 3 SMA plotted,
it looks OK. Can be a useful indicator.
It's a short term timing tool - it's not worth using for long term
investors. Some have also suggested using periods of 25 or 50 days
though I use only 10 days. Others have suggested it's very useful when
used in conjunction with Welles Wilder's RSI.
For more details, you can consult: "How Charts Can Make You Money" by
T. H. Stewart; published by Woodhead-Faulkner (or Nichols Publishing,
New York). Available from Synergy Software.
Synergy Software, Britannic House, 20 Dunstable Rd., Luton LU1 1ED.
England. Tel.: (0582) 424282 Fax: (0582) 482741
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