|
PureBytes Links
Trading Reference Links
|
The following is from a post I just made to another list.
Robert Pisani of that list posted information on this index and
I constructed an indicator which plots critical days as peaks.
To make this work you must determine the proper threshold for
the symbol you are applying this to. The threshold for US is
about .1-.3 and for SP is about 1-3 -- depends on rate of change
of equity.
You will find this most interesting if you select the correct
threshold.
Clyde Lee
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
{
Indicator: Raschke'sCriticalDay
Author: Clyde Lee
Source: Robert Pisani on CodeList
This routine plots critical day values (normally very low)
as positive values relative to a threshold thus making a
critical day a peak -- much easier for me to see!
By setting the threshold value very low you will only display
really critical days.
}
Inputs: Length1(1),Length2(4),Length3(9),Length4(16),Thresh(-.2);
Vars: ROC1(0),ROC2(0),ROC3(0),ROC4(0),ROCAVG(0);
Vars: DEV1(0),DEV2(0),DEV3(0),DEV4(0),DEVAVG(0);
ROC1=C-C[Length1];
ROC2=C-C[Length2];
ROC3=C-C[Length3];
ROC4=C-C[Length4];
If Thresh<0 then begin
ROC1=AbsValue(ROC1);
ROC2=AbsValue(ROC2);
ROC3=AbsValue(ROC3);
ROC4=AbsValue(ROC4);
End;
ROCAVG=(ROC1+ROC2+ROC3+ROC4)/4;
DEV1=AbsValue(ROC1-ROCAVG);
DEV2=AbsValue(ROC2-ROCAVG);
DEV3=AbsValue(ROC3-ROCAVG);
DEV4=AbsValue(ROC4-ROCAVG);
DEVAVG=(DEV1+DEV2+DEV3+DEV4)/4;
VALUE2=(AbsValue(Thresh)-DEVAVG);
IF VALUE2<0 THEN VALUE2=0;
Plot1(VALUE2,"RCD");
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
--
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Clyde Lee Chairman/CEO (Home of SwingMachine)
SYTECH Corporation email: <clydelee@xxxxxxx>
7910 Westglen, Suite 105 Work: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
SM available at: ftp://intrepid.com/pub/clyde
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Attachment Converted: "c:\eudora\attach\Rasccday.ela"
|