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Alvin,
Tillson's original T3 has .7 plugged into all the places I have .618. All you have to do is plot both formulae and I'm sure you will agree that it makes very little difference. The T3 oscillator is similar to moving average oscillators that I have been playing with since 1975. Since I believe the T3 series of moving averages are smoother and have less lag than other m.a.'s, I use T3's in many of my oscillators. I also use a T8 (T3 of eight periods) to define trend. The eight periods tend to suit my momentum swing trading style. If trend is part of a mechanical approach that I am building, I usually favor the T8's direction to tell me if the market is currently positive or negative.
As far as trigger levels as applied to moving average oscillators: much depends on volatility and the underlying issue. I would never consider -1.5/+1.5 as triggers if I was trading crude oil (which routinely travels from -5/+5). Also, keep in mind that if an issue is trading at a low price, then the T3 Osc is only going to travel as far as the range can take it. Large priced, volatile issues demand big trigger numbers. Low priced, low-volatility issues develop very tight spreads between the high and low levels of the T3 Osc.
I don't know which seminar the Cisco chart was culled from... but, I would suggest that the chart is ancient history. Although, mechanical trading can be a somewhat exacting science, markets are constantly changing. Technicians can become very stubborn about their "holy grail" approaches and can get married to trigger levels, filters and over-optimizing. The market dynamics have changed dramatically during the last six months (with a major change in volatily changing in August of 2007). Certainly there is a better trigger level to guide your trading then what I might of published a year ago.
Hopefully, you know how to optimize for trigger levels ... which will allow you to understand what has worked for Cisco for the last three, six, twelve, sixty months. There are many fine approaches to the market. None of them work on all market conditions. The art of trading depends on being able to adapt to market conditions. I hope this helps.
Take care,
Steve
From: Alvin Yu <alvinyu2005@xxxxxxxxxxxx>
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Sunday, March 8, 2009 6:34:39 AM
Subject: Re: [EquisMetaStock Group] Re: Fw: T3 Oscillator -- Expert Advisor setting (file attached)
Hi Preston
Thks for the response ..I will wait for Steve reply if he noticed this request .
By the way, the T3 Osc from Steve is as follow:
Mov(Fml("T3" )-Ref(Fml( "T5"),-1) ,3,S)
T3 and T5 is the MAs and T3 is as follow:
e1:=Mov(C,3, E);
e2:=Mov(e1,3, E);
e3:=Mov(e2,3, E);
e4:=Mov(e3,3, E);
e5:=Mov(e4,3, E);
e6:=Mov(e5,3, E);
c1:=-.618*.618* .618;
c2:=3*..618* .618+3*.618* .618*.618;
c3:=-6*.618* .618-3*.618- 3*.618*.618* .618;
c4:=1+3*.618+ .618*.618* .618+3*.618* .618;
c1*e6+c2*e5+ c3*e4+c4* e3;
From: pumrysh <no_reply@xxxxxxxxxx s.com>
To: equismetastock@ yahoogroups. com
Sent: Sunday, 8 March 2009 2:28:48
Subject: [EquisMetaStock Group] Re: Fw: T3 Oscillator -- Expert Advisor setting (file attached)
Alvin,
I'm not going to be able to help you very much with this. I do know that Steve likes to buy/sell the extremes so my guess is the 1.5 would be correct. I don't have the T3 oscillator formula so I cannot verify your formula. Check with Steve. I'm sure he would be happy to help you.
Preston
--- In equismetastock@ yahoogroups. com, Alvin Yu <alvinyu2005@ ...> wrote:
>
> Hi Preston
> Can I request your adv on this subject ? I also attached a copy of the T3 OSC chart and instructions . Do adv in return how do I get the followings:
> 1) As per the attached chart -- What formula can I use to plot the buy/sell arrows ?
> 2) Should the trigger levels +/-0.5 or +/- 1.5 ? I tried the T3 Osc on Cisco ( Feb
2006) as per the chart shown.
> 3) Under explorer program , how do I set the screening for stocks that meet both ong/Short trigger ?
>
> rgds
>
>
>
> ----- Forwarded Message ----
> From: Alvin Yu <alvinyu2005@ ...>
> To: equismetastock@ yahoogroups. com
> Sent: Wednesday, 4 March 2009 10:35:12
> Subject: T3 Oscillator -- Expert Advisor setting
>
>
> Hi Steve
> I am trying this T3 Osc Mov(Fml(" AY T3")-Ref(Fml( "AY T5"),-1),3,S) .Can u adv what is your setting used in the Expert Advisor to get the long/short arrows ?Appreciate your help
>
> rgds
>
>
>
> ____________ _________ _________ __
> From:
Steve Karnish <skeeter47@x ..>
> To: equismetastock@ yahoogroups. com
> Sent: Thursday, 4 December 2008 3:37:50
> Subject: Re: [EquisMetaStock Group] Re: Formula for Stochastic Oscillator?
>
>
> Eric,
>
> My favorite, from the page Preston provided:
>
> http://trader./ online.pl/ MSZ/e-w-StoRSI_ Indicator. html
>
> Take care,
>
> Steve
>
>
>
>
>
>
> ____________ _________ _________ __
> From: pumrysh <no_reply@xxxxxxxxx p s.com>
> To: equismetastock@ yahoogroups. com
> Sent: Wednesday, December 3, 2008 11:20:06 AM
> Subject: [EquisMetaStock Group] Re: Formula for Stochastic
Oscillator?
>
>
> Eric,
>
> Try this:
>
> http://trader./ online.pl/ MSZ/e-0-tytulowa -s.html
>
> If you have not read the manual yet, you might want to check there as
> well. If you don't have one look in the files section for a copy.
>
> Finally, there is a built-in Stoch indicator in Metastock.
>
> Preston
>
> --- In equismetastock@ yahoogroups. com, chichungchoi <no_reply@ .>
> wrote:
> >
> > Referring to http://www.incredib/ lecharts. com/technical/ stochastic. php
> > There is the formula for Stochastic Oscillator
> > CL = Close [today] - Lowest Low [in 5 Periods]
> > HL =Highest High [in 5 Periods] - Lowest Low [in 5 Periods]
> > %K = CL / HL *100
> >
> > Does anyone have any suggestions on what step I miss to calculate
> > Stochastic
Oscillator? The result is wrong when I compare the result
> > between Excel and Metastock?
> > Thanks in advance for any suggestions
> > Eric
> >
>
>
>
> ____________ _________ _________ __
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