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There are some "Elliot TPI" (turning point indicators) which attempt to do
this.
However, the last leg more times than not keeps changing giving many false
signals, until eventually the last signal is a valid one. Looking at a chart
then in hindsight, gives the illusion that only the last valid signal was
given, and that it was an excellent entry point, when in fact there may have
been many signals (not so good entry points) given along the way.
Unless you have a new different approach, I have dismissed this concept.
Regards Martin
----- Original Message -----
From: "Prabakaran Rajah Thiagarajah" <prabakaran@xxxxxxxxxxxx>
To: <equismetastock@xxxxxxxxxxxxxxx>
Sent: Tuesday, February 03, 2004 1:46 PM
Subject: [EquisMetaStock Group] Extreme point reversal
> Messrs metastock,
>
> I am trying to create a indicator for Extreme point reversal based on
Percentage. It is used to trade on each reversal point catching the market
just near it's highs and lows.
> The EPR is calculated one day in advance, we use today's closing to get
tomorrow's EPR %. The program should also have the flexibility to calculate
daily and weekly behaviour simultaneously.
>
> Has anyone tried this type program before, if yes please advise.
>
> Thanks
> praba.
>
>
>
>
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