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Lenny,
Just curious, is there a Negative Reversal formula for this same
application? Thanks! BTW enjoyed the gif.
J.
>From: ROSOW@xxxxxxx
>Reply-To: metastock@xxxxxxxxxxxxx
>To: metastock@xxxxxxxxxxxxx
>Subject: Re: Support and resistance
>Date: Tue, 30 May 2000 19:26:25 EDT
>
>Glen,
> I posted this to the group last June - Lenny
>
>Here is a post I sent to a Metastock group on June 16 describing the RSI
>Positive Reversal:
>
>Walter et al. As I mentioned before a Positive Reversal happens when an
>oscillator such as the RSI has a lower valley low at the same time the
>price
>moves to a higher high. This was developed by Andrew Cardwell to use for
>price forecasting. You label (3) oscillator pivots, (2) oscillator lows
>(A&B) and the highest oscillator high between points A&B (C). The Positive
>Reversal price projection formula goes as follows: (B-A) + C = Price
>projection/target. The price data associated with oscillator points A, B &
>C
>are the #'s you throw into the above formula. I have attached a Dow weekly
>chart with (3) examples of Positive Reversals of which one may be taking
>place right now. Let me know what you all think - Lenny.
><< !DJIweekly.gif >>
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