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--- In equismetastock@xxxxxxxxxxxxxxx, "Lionel Issen" <lissen@xxx> wrote:
>
> Just set these up as indicators and plot them. Look in the manual or
online help.
> If you plot (bull power - bear power) your chart will show which is
dominant.
Where:
> Bull power = High - EMA
> Bear power = Low - EMA
THEN:
(bull power - bear power)
=(High - EMA) - (Low - EMA)
= High - EMA - Low + EMA
= High - Low
Much simpler...
So how does it show who is dominant?
The High will ALWAYS be greater then the Low (unless you have corrupt
data!) so this indicator will simply show the data-period range. You
might consider dividing this Range by the Low to get a percentage
value which might be of more benefit for trading. To find the Bull or
Bear Power I would probably use the Open and Close prices in lieu of
the High and Low??
Anyhow, this shows why one should NEVER take any formula on face value
without firstly proving the formula from first principals, or at least
simplifying the formula to expose weaknesses such as this.
... and the benefits of the MS Users Manual and the Equis Formula Primer.
wabbit :D
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