RE: [Metastockusers] Re: MACD vs. True Strength Index/Ergodic Oscillaotor

[<uhehs@xxxxxxxx>]

<span
>How do you
feel it compares to the classic MACD?

<span
> 

-----Original Message-----
From: Henry Z Kaczmarczyk
[mailto:henry1224@xxxxxxxxx]
Sent: Saturday, May 31, 2003 10:49
PM
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: [Metastockusers] Re: MACD
vs. True Strength Index/Ergodic Oscillaotor

 

<span
>--- In
Metastockusers@xxxxxxxxxxxxxxx, "Henry Z Kaczmarczyk" <font
size=2 color=black face="Courier New">
<henry1224@xxxx> wrote:
> --- In Metastockusers@xxxxxxxxxxxxxxx, <uhehs@xxxx> wrote:
> > [from April's Activetrader magazine]
> > 
> > 100*[{EMA2(EMA1(mtm))}/{EMA2(EMA1(|mtm|))}]
> > 
> > where:
> > mtm = one day momentum
> > |mtm| = absolute value of one day momentum
> > EMA1 = longer term EMA [60 bars, for example]
> > EMA2 = shorter term EMA [5 bars, for example]
> > 
> > Any criticisms on this?
> 
> here is your indicator
> 
> MTM:=C-Ref(C,-1);
> A1:=100*(Mov(Mov(MTM,5,E),60,E)/ Mov(Mov(Abs(MTM),5,E),60,E));
> A1;
> 
> I think it is a little choppy in a sideways market
> 
> Henry

If you smooth the indicator, you get a smoother indicator but still 
it still has trouble in choppy markets, so compare it with an ADX 
set to 15 periods and look for divergences between the peaks and 
valleys





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