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Roy, Thanks. Interesting and I will save this for future reference.
Jim
Hi Jim
I think Steve covered your situation with the piece
of code he gave. It will work for both simple and exponential moving
averages.
There's an intersting aspect of exponential moving averages
in that an EMA always moves toward the price. Always. The length of the
moving average is irrelevant. This means that you can accurately predict
whether the EMA will move up or down based on whether the new price is above
or below the existing (previous bar) EMA value.
So Steve's code
could be rewritten like this for exponential moving
averages.
If(C>Ref(Mov(C,40,E),-1), {bullish} +1, {bearish}
-1);
This principle also applies to Wilders Smoothing, but not to
simple moving averages.
Kind regards
Roy
Larsen www.metastocktips.co.nz
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