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[RT] GEN - Trend Exhaustion



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Ben suggested that the up and down trend exhaustions be plotted as a
difference.  This does appear to have some visual advantages.  Divergent
lows and highs are rather striking.  Also the +5 and -5 levels appear to
have some significance.  There are three distinct zones.  Bottoms, tops,
trend.  At the present the TEIdiff has come off a low in December and is
working its way higher.  You can draw your own conclusions as to where it
might reverse.  Guess the market will tell us that won't it.

BobR

{index in data1, new highs in data2, adv in data3, new lows in data4,
declines in data5}
Inputs: price1(c of data2),price2(c of data3),price3(c of data4),price4(c of
data5),K(0.18),K2(100),S(5),B(-5);
vars:   TEIup(0),TEIdwn(0),TEIdiff(0);

If price2<>0 then
TEIup=TEIup[1] + K*(K2*price1/price2 - TEIup[1]);
If price4<>0 then
TEIdwn=TEIdwn[1] + K*(K2*price3/price4 - TEIdwn[1]);
TEIdif = TEIup - TEIdwn;

Plot1(TEIdif,"TEIdif");
Plot2(0,"0");
plot3(S,"S");
plot4(B,"B");

Attachment Converted: "f:\eudora\attach\TEIdiff.gif"