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I just finished Appel’s new book and thought it
terrific. No doubt his approach is a traditional
one, so you won’t find newly developed indicators and
techniques. And, I suppose if you have been trading
for a while you are likely to be familiar with some or
even most of the material. Nevertheless, I still
found this book very useful.
Appel developed the MACD 30 years ago. I’ve
personally never really read more than a few pages on
the MACD in other texts (and I’ve never read any of
his earlier books). In this book, he devotes a full
chapter to MACD and discusses useful knowledge that
has never before been in print. Much of the content
of this chapter isn’t in other people’s texts. I
found it very helpful.
He also spends time with moving average envelops or
trading bands; basic stock market cycles, including
the “Magic T;” a visual method of estimating the end
of a swing based on angle changes; a really good
discussion on market internals like TRIN,
advance-decline indicators, and new hi-new low, and
how to use them effectively; momentum and useful
momentum indicators; and other techniques. Most of
his suggested uses of indicators have a research base.
There is nothing really new in this book. However, he
organizes it and illustrates its use backed by
research evidence in a way that I would expect most
traders can benefit from.
Hope this is helpful,
Whit
--- jawjahtek <jawjahtek@xxxxxxxxx> wrote:
> I see that Gerald Appel has a "new" book out
> (Technical Analysis: Power
> Tools for Active Investors).
> Amazon.com says it came out 21 March 2005.
> A review on Amazon by someone named Steven Phillips
> says that the book
> is a rehash of old stuff. I am wondering if anyone
> has read the book
> and, if so, what is your opinion?
>
> Another (unrelated) question.
> I have been trying to find the formula for the time
> delay of an
> exponential moving average. For example, the time
> delay of a simple
> moving average is usually given as
> (time periods - 1) / 2 = time delay
> Can anyone remember a similar formula for EMA?
> I know I have seen it, I just can't find it on the
> web or in my books.
>
>
> jawjahtek
>
>
>
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