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In the code I posted yesterday concerning pivot points in OSC for tomorrow,
I left out a critical piece of info (adding c[1] to the part in
parentheses).
Here's what it should be (see below to compare to last night's)
Inputs : ePrice(NumericSeries);
Vars: iRawPrice(0);
iRawPrice = 0;
iRawPrice = c[1] + (c[1] * RateOfChange(ePrice,2)[0] / 100) ;
TS_STPivot = iRawPrice;
ROC is the simplest way to measure momentum. It measures the rate at which
a market average changes price over a given period of time. For example if
you wanted to measure 10 week ROC then you would take the current price
divided by the price 10 weeks ago. If the current price is 100 and price 10
weeks ago was 105 the ROC or momentum indicator will read 95.2 that is, 100
divided by 105.
ROC = (C[0] / C[n] - 1) * 100 where n = number of days back (ex 2 day ROC).
Set n to 2 and solve for c[0] and you get:
TOMMRWS PRICE AT WHICH ROC SLOPE EQUALS ZERO = c[1] + (c[1] *
ROC(c[0],2)[0] / 100);
Brian.
>Yes I've done what Earl is speaking of. I use a 2 day ROC pivot point to
>trade short term swings in the market. I took the basic ROC equation and
>solved for the next day. Here's the EL code I used to do it
>
>Where: RateOfChange = (Price/Price[Length] - 1) * 100 converts to this to
>find next day's price:
>
>EPrice is sent today's close when it is called:
>
>Function Name: TS_STPivot
>
>Inputs: ePric(NumericSeries);
>Var : iRawPrice(0);
>
>iRawPrice = 0;
>iRawPrice = c[1] * RateOfChange(ePrice,2)[0] / 100);
>
>TS_STPivot = iRawPrice
>
>
>For more complex formulas that aren't easily solved for the next day's
>price, I take an iterative approach and keep plugging in prices until the
>OSC is flipped for the first time. Here's an outline of process I used:
>
>1. If the OSC is going down (this day < previous day) then start with a
>price that is less than the current one to keep the OSC going down. Ex: 25%
>of closing price (purely arbitrary but ensure that the first value will
>always keep the OSC going in the same direction)
>2. Verify that this price value will infact keep the OSC going the same
>direction if tomorrow were to close here.
>3. Then start working up/down plugging in succesively lower/higher values
in
>units of 0.001 until you get the same value that currently exists in the
OSC
>today.
>4. Any price above (if OSC line going down) /below (if OSC line going up)
>this value should flip the OSC.
>
>Hope this helps.
>
>Brian.
>
>-----Original Message-----
>From: Earl Adamy [mailto:eadamy@xxxxxxxxxx]
>Sent: Tuesday, November 10, 1998 4:52 PM
>To: omega-list@xxxxxxxxxx
>Subject: Re: next bar
>
>It's generally relatively simple algebra to turn any indicator formula
>around to solve for the unknown value to yield a known result instead of
the
>usual known value to yield unknown result.
>
>Earl
>
>-----Original Message-----
>From: MRLYNNG@xxxxxxx <MRLYNNG@xxxxxxx>
>To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
>Date: Tuesday, November 10, 1998 4:41 PM
>Subject: Re: next bar
>
>
>>In a message dated 98-11-10 07:58:37 EST, rickinri@xxxxxxx writes:
>>
>><< is there a function comercially
>> available or has someone written
>> code that can tell what next bar value that will trigger signal in an
>> indicator? >>
>>****************************
>>Rick:
>>There may be something like this elsewhere but the only product I know
>about
>>is the Oscillator Predictor by Joe DiNapoli at fibtrader.com. I am doing
>this
>>from memory so don't hold me to it but I believe it predicts the value of
>the
>>oscillator in the future but not sure if it shows the value needed for a
>>signal. Better ask them.
>>Lynn
>>
>
>
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