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I was looking through an old newsletter and learned about an old DOS
program that Equis used to sell for $49. I contacted Jake Porter at
Equis to ask if "The Technician" is still available. Sadly it is not.
It has a "Tape" indicator that takes into account price action and
market internals to come up with an overall rating of the market's
technical condition. Some of the inputs are NYSE advancing and
declining issues, new highs and lows, up and down volume, etc.
It's been said that up to 80 percent of a stock's movement can be
attributed to "the Market." This sort of breadth indicator can be
priceless.
Does anyone have a copy of this program they would like to sell? Does
anyone know the formula for the "Tape" indicator, so that it can be
reproduced in the current version of Metastock?
I wonder if creating a "Binary Wave" indicator could replicate the
Tape? How much weighting should be given to each of the internals?
This forum has many talented technicians. Any thoughts are welcome.
Thanks.
Dan
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