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http://finance.groups.yahoo.com/group/equismetastock/message/16528
It's a very innovative solution. It just provides the day's values, not the
history. You can use it as a way of normalizing any kind of unbounded
oscillator. Also think about whether you want the MA to include today's
price or not.
The most useful tool I have found from working with TWDL is to put together
an Excel spreadsheet that calculates resistance and expansion fibnodes. i.e.
you put in the reaction numbers and then have it calculate the nodes. Excel
is adequate for EOD.
If you want to see the methodology in action its worth taking a look at
http://www.foxfutures.com/futures/DLevels.cfm who produce weekly research -
I believe they have some free samples.
But note that DiNapoli ignores fib levels that you will need in some markets
- e.g. crude has been very responsive to 50% retracements over the last year
or so. Also expansions often go to 2.618 or more. If you're interested in
exploring more, then take a look at http://www.elliottwave.com/ where you
will see fib being used in conjunction with Elliott Wave, but with a more
comprehensive set of retracements. (EW gives you an idea of what level of
retracement or expansion to expect).
Also Connie Brown's book - Technical Analysis for the Trading Professional -
has a great chapter on advanced uses of fib.
Nevertheless, if you're going to use TWDL methodology as your primary form
of analysis you probably should invest in the software.
The other limitation is that for big moves or over longer periods of time
you need to use a log scale - not something that MS or TWDL can handle.
Anyone want to code a Fib drawing tool for MS that deals with a log scale?
Andrew
-----Original Message-----
From: Metastockusers@xxxxxxxxxxxxxxx [mailto:Metastockusers@xxxxxxxxxxxxxxx]
On Behalf Of cav609
Sent: Thursday, May 05, 2005 7:24 AM
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: [Metastockusers] Re: Peak Value / Highest Value ...
Andrew
Thanks for this ... unfortunately though I cant find the relevant
post, any clues as to title/date?
And yep, you got me - I should really buy Joe's software but having
invested in Metastock before reading TWDL I'm trying stuff out first
with MS.
cav
--- In Metastockusers@xxxxxxxxxxxxxxx, "Andrew Tomlinson"
<andrew_tomlinson@xxxx> wrote:
>
> Jose posted a partial solution to this a month or so ago. It gives
current
> values for the detrended oscillator, but not the historicals, so
you can't
> back test. Your alternatives are to buy the Coast Investment
Software
> package or use another measure to approximate the same thing.
There's not
> necessarily any magic to the three peaks formulation - you can
play with 80
> or 90% of the last x month range for the moving average deviation,
for
> example.
>
> Andrew
>
>
> -----Original Message-----
> From: Metastockusers@xxxxxxxxxxxxxxx
[mailto:Metastockusers@xxxxxxxxxxxxxxx]
> On Behalf Of cav609
> Sent: Wednesday, May 04, 2005 8:44 AM
> To: Metastockusers@xxxxxxxxxxxxxxx
> Subject: [Metastockusers] Peak Value / Highest Value ...
>
>
> Hi
>
> Am trying to write code to identify the 3 largest peaks (highs)
during
> the last 130 bars of a simple function C-Mov(C,7,S). I can get
the
> largets peak: hhv(C-Mov(C,7,S),130) but how do I get the next 2
lowest
> peaks during the timeframe? Tried the PEAK set of functions but
dont
> seem to be getting anywhere!!
>
> Any help MUCH appreciated
>
> cav
>
>
>
>
>
>
>
> Yahoo! Groups Links
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