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Hello Adam,
Thanks for your compliment.
But I'd rather don't accept credits for something I did not create....
This was (if I remember it well) the result of a former discussion about
this subject on this list.
About your remark: I'm not so sure. The idea is that the RSI 3 days ago was
higher than the lowest RSI in the last 14 days.
Now if one uses ,-2 metastock will start the look-back period (14 days) 2
days ago. If one uses ,-3 doesn't it start the lookback-period 3 days ago ?
The easiest way to find out might be to put both formula's in an
exploration and than make the hits visual by opening the relevant charts.
Whatever comes out as the correct code should be marvellous because one can
vary both the indicator as the lookback-periods, right ?
Rgds.
Frans
At 08:20 3-12-00 -0600, you wrote:
>Frans,
> Very good coding!
>One line of your code reads:
>
> Ref(RSI(14),-2) > Ref( LLV(RSI(14),14),-2)
>
>I wonder if you really meant it to read this:
>
> Ref(RSI(14),-2) > Ref( LLV(RSI(14),14),-3)
>
>Thanks for your contribution,
> Adam Hefner
>
>
>----- Original Message -----
>From: Frans Derksen <fjderksen@xxxxxxxxx>
>To: <metastock@xxxxxxxxxxxxx>
>Sent: Sunday, December 03, 2000 3:09 AM
>Subject: Re: Divergence
>
>
>>
>> Hello John,
>>
>> For a (primitive) start try this formula:
>>
>> L = llv(L,20) and RSI(14) > llv(RSI(14),20
>>
>> Or (a little bit more sophisticated):
>>
>> - RSI has been going up for three days.
>> - RSI three days ago was higher than lowest RSI in past 14 days
>> - Close of three days ago was lower than lowest close of the prior 14
>> days will look something like this:
>>
>> {RSI exploration}
>> Ref(RSI(14),0) > Ref(RSI(14),-1) AND
>> Ref(RSI(14),-1) > Ref(RSI(14),-2)AND
>> Ref(RSI(14),-2) > Ref( LLV(RSI(14),14),-2)
>>
>> {Price exploration}
>> AND Ref(CLOSE,-2) < Ref(LLV(CLOSE,14),-3)
>> {or:REF(C,-2) = REF(LLV(C,14),-2)}
>>
>> All improvements welcome....
>>
>> Rgds.
>> Frans
>>
>>
>> At 14:29 2-12-00 -0800, you wrote:
>> >One of the more interesting indicators of price reversal for me is the
>> >divergence that occurs between a momentum indicator and the price action.
>> >For example, if through some time period both price and RSI make a high
>and
>> >then price rises and RSI drops, then divergence has occured between the
>> >indicator and the price and a reversal in price action "might" occur.
>> >
>> >I have not been able to figure out a manner of looping thru the past 1 to
>70
>> >periods of price and momentum indicator values to figure out if the
>prices
>> >are showing divergences or not using Metastock.
>> >
>> >Does anyone have such a formula or know where i can find it?
>> >
>> >Thanks. ................................... John
>> >
>> >
>>
>>
>
>
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