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Glen:
thank for sharing. would you please define var(2) please. var2:=?
i get error without it.
thanks,
kevin
----- Original Message -----
From: "Glenn Woolum" <gwooly@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxxxxxxx>
Sent: Monday, June 25, 2001 1:12 PM
Subject: PLDot Uses...
> > > The PLdot is nothing more than a very tight moving average. The value
is
> in
> > > the rules to interpret the moving average. The basic theory is that
the
> > > moving average and the price will oscillate around each other and from
> that
> > > fact you can develop trading strategies. Watch the MA oscillate around
> the
> > > price for a while and develop your own strategy strategy. You do not
> need to
> > > pay 3K+ to have someone tell you very simple rules for this indicator.
>
> Greetings MS List...
> I played around with the PLDot formula to see if there are any uses for
it.
> I eventually came up with an up/down trend diviner. It gives clear signals
> in trend by taking the average difference of closes from PLDot. The result
> of that was still hovering too close to the center line, so I add the
close
> if the PLDot is above zero and subtract the close if it is below zero. I
> multiply the result by the ADX. The resulting indicator is very sensitive
to
> changes in trend, and gives clear unambiguous signals. If the indicator is
> above zero the trend is up, if it is below zero the trend is down. I'm
sure
> it needs more work before you could trade off of it, but it creates an
> interesting study that could become part of a larger system. Here's the
> formula I came up with:
>
> var1:= (C - (Sum(Typical(),3)/3)); {set the var with the PLDot}
>
> 0; {plot zero line}
>
> If(Mov(var1,9,S)>0, Mov(var1,9,S) + C,
> If(Mov(var1,9,S)<0,Mov(var1,9,S) - C,0))
> * ADX(var2) {plot the indicator}
>
> Regards,
> Glenn Woolum
>
>
>
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