[RT] Re: Gen: Centered Swing Momentum

["Prosper" <brente@xxxxxxxxxxxx>]

Thanks Clyde,

It looks very good to me.

I got to thinking about such an indicator when I was reading about a
concept that tries to find a neutral point in the markets and then if the
momentum rises or falls from that neutral point it generates buy or sell
signals respectively.

So I just thought that the mid point in a swing can be considered a type of
neutral point and price movement around that point ought to be a centered
momentum until a breakout of that range occurs. After which a new range is
developed.


Prosper
----- Original Message -----
From: Clyde Lee <clydelee@xxxxxxx>
To: <brente@xxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, April 04, 2000 12:46 PM
Subject: Re: [RT] Gen: Centered Swing Momentum


The following indicator represents one implementation of an
indicator that  Prosper  proposed to measure momentum from
the mid-point of the most recent leg of a swing pattern.

If you don't want a stochastic type plot then modify the
code as indicated.

Looks like this might have some worth!!!

Clyde


{* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

 INDICATOR:  SwingLee_Momentum

 Requested by:  Prosper < brente@xxxxxxxxxxxx>

 Plots a Stochastic like representation of momentum of current
 price relative to midpoint of last swing leg.
 Plots a smoothed version of the above.
 Plots +/-30 range lines to evaluate approach of turn.

 Author:  Clyde Lee,  Copyright 2000

 Uses:    Swing_Lee  and  XAverage2  functions from  C_Lee.

 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *}


Input:  NDays(34),Smooth(9);


Vars:   Direct(0),ThisHL(0),LastHL(-99999),MidHL(0),PercHL(0);


Direct=Swing_Lee(NDays);

If Sign(Direct)<>Sign(Direct[1]) then begin
 LastHL=ThisHL;
 If Direct>0 then ThisHL=H[Direct]
 Else             ThisHL=L[-Direct];
 MidHL=(LastHL+ThisHL)/2;
End;


If LastHL>0 then begin
 Value1=Highest(c-MidHL,NDays);
  Value2=Lowest (c-MidHL,NDays);
 Value3=((c-MidHL-Value2)/(Value1-Value2)-.5)*100;
 Plot1(Value3,"hlac");
 {Comment out the above and uncomment}
 {the below plot for 'plain' momentum}
 {Plot1(C-MidHL,"hlac");}
  Plot2(XAverage2(plot1,smooth),"smo");
 Plot3(30,"30");
 Plot4(-30,"-30");
End;

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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
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