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Per a few requests:
Here is a very simple oscillator designed as a trendwatch oscillator.
Borrowing Jake Bernstein's idea of using the C-O and smoothing it provides a
perspective of where the close is with respect to the open, unlike stochastics
that references the close to a position in the H-L range over so many periods.
In this application a TRIX of the open is subtracted from the TRIX of the
close. Why TRIX, because the endpoint represents trend. A difference of the
trend of the close and open provides price trend.
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{JBOC oscillator}
INPUTS: P1(O),P2(C),L1(6);
VALUE1=XAverage(XAverage(XAverage(P1,L1),L1),L1);
VALUE2=Xaverage(XAverage(Xaverage(P2,L1),L1),L1);
VALUE3=5000*(VALUE2-VALUE1);
PLOT1(VALUE3,"");
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Additionally the attached chart has the BR Classical pivots overlaid on the
NYA and as this is being written the S3 support is being tested. Further down
in the chart are the Cumissue and Cumvolume that Don Thompson and I worked up,
mostly Don's work. Sorry, but those are secret. This has been a downtrend
day right out of the gate.
BobR
Attachment Converted: "c:\eudora\attach\JBOCC.gif"
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