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



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The suggested comparison of the Ergodic Oscillator to ADX(15) looks 
promising visually, but how do you set up an Exploration to find 
divergences?

--- In Metastockusers@xxxxxxxxxxxxxxx, "Henry Z Kaczmarczyk" 
<henry1224@xxxx> wrote:
> --- In Metastockusers@xxxxxxxxxxxxxxx, "Henry Z Kaczmarczyk" 
> <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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