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Below is the formula that Rory Lewellen referred to in his recent post on
Directional Turning Points (BTW, nice post Rory!). This is a Metastock
indicator that Eddie Kwong has posted at the Realtraders web site. I know if
Eddie uses it, there must be some credibility to it!
Unfortunately, I am not a Metastock user. Can anyone supply Easy Language code
for this puppy, or at least put it into normalspeak terms so that I can code it
myself?
Thanks in advance,
Bob Hunt
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Formula name: GRII
This is a long formula so I broke it up into four pieces. GRII is derived from
formulas 1, 2, and 3.
This is a nifty momentum oscillator that I've used for about five years to help
me determine the
direction of a given market when I have evidence that the market is about to
turn.
1 GRIIF1 tsf(C,9)-ref(tsf(C,9),-1)
2 GRIIF2 (ref(tsf(C,9),-1)-(ref(tsf(C,9),-2)))
3 GRIIF3 (ref(tsf(C,9),-2)-(ref(tsf(C,9),-3)))
4 GRII
(tsf(C,9)-ref(tsf(C,9),-1))+((ref(tsf(C,9),-1)-ref(tsf(C,9),-2)))+((ref(tsf
(C,9),-2)-(ref(tsf(C,9),-3))))
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