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Simon,
I have converted the PFE to a user function and am attaching two ELA
files, one with an indicator and function and the second with just the
function (PFEUSER).
This function has two inputs: 1. Lookback period (default=9) and 2.
EMALEN.
EMALEN is the length of the exponential moving average that smooths the
raw PFE.
The standard PFE uses .333 as a smoothing factor, that corresponds to an
exponential moving average of 5 days (2 / (5+1)).
Both of these inputs can now be changed, but in changing them the
indicator does not change to any great degree.
Regarding the loss of the sawtooth waveform as the time frame increases, I
tend to agree with you regarding the "movement in the price." The input
parameters are not a factor.
My guess is that the sawtooth waveform is produced by the lower relative
volatility of intraday versus daily data. I will be doing some research
into this to check whether intraday data has a lower relative volatility
than daily data.
Neal
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> Only on some of my daily charts does the sawtooth pattern exists. It
seems
> to be related to how much movement there is in the price and how smooth
the
> movement is.
>
> I would like to be able to system test the PFE and this cannot be done
from
> an indicator. As I only have Supercharts, I cannot convert it to a
function
> that a system can use. Would someone be kind enough to change it to a
User
> function?
Attachment Converted: "c:\eudora\attach\Pfe user.ela"
Attachment Converted: "c:\eudora\attach\Pfeuser.ela"
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