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Your algebra is correct. I should have notice it. It also explains why I
never used it as an indicator of bull or bear power. Your other comments are
also correct.
This reminds me of a meeting decades ago. Two new Ph.D.s were proudly
presenting the results of their research in rheology. There were several
pages of calculations, pictures of their equipment, and charts of their
data. When they were finished an old professor got up and put down two lines
of equations that produced the same results as the speakers results, and he
snorted that the research didn't' have to be done as these equations had
been around for several decades. I had met the professor and indeed he was a
crusty sob. He was tough but fair. He treated everyone the same, very mean.
Regards
Lionel
_____
From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of bellamy_29m
Sent: Thursday, February 02, 2006 7:38 AM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: Re: [EquisMetaStock Group] Force Index & Bull/Bear Power
--- 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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