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I understood that Elder's Bull Bear Power measured the distance from some
base line (the EMA) to the high or the low. That is not the same as
measuring the distance form the high to the low. He has the two indicators
plotted in separate windows.
>From: "Lionel Issen" <lissen@xxxxxxxxxxxxx>
>Reply-To: equismetastock@xxxxxxxxxxxxxxx
>To: <equismetastock@xxxxxxxxxxxxxxx>
>Subject: RE: [EquisMetaStock Group] Force Index & Bull/Bear Power
>Date: Thu, 2 Feb 2006 12:46:19 -0600
>
>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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>
> _____
>
>
>
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