[RT] GEN - Tick Line Momentum Oscillator

["BobR" <bobrabcd@xxxxxxxxxxxxx>]

Here is the Tick Line Momentum Oscillator converted from spreadsheet
formulas to .ELA.  The article's intent was to use the NYA end of day
closing TICK to time the broad market.  An oscillator reading greater than
+2 is overbought and less than -2 is oversold.

Enjoy,
bobr


{TICK Line Momentum oscillator from TASC Jan 1994
Converted from Excel to EasyLanguage by bobr bobrabcd@xxxxxxxxxxxxx 6/6/2001
Index in data1, TICK in data2, K is the exponential smoothing constant.
0.333 is default for 5 day smoothing.
Other values for K for different smoothing:
2 day K = 0.667
3 day K = 0.50
5 day K = 0.333
7 day K = 0.25
9 day K = 0.20
19 day K = 0.1}


Inputs: Price1(C of data2), Len1(10),Len2(5),OB(2),OS(-2),K(0.333);
Vars: XMA(0), Rating(0),OnBalTick(1),TLM(0),TLMA(0),TLMO(0);


XMA = Round(XAverage(Price1,Len1),0);  {expontial average of TICK rounded to
integer}

Rating = IFF(Price1>XMA[1],1,(IFF(Price1<XMA[1],-1,0))); {1 if C>xma, -1 if
C<XMA, O if C=XMA}

OnBalTick = cum(rating);        {running total of the rating classification}

TLM = OnBalTick - OnBalTick[Len2]; {momentum for period Len2, 5 day default}

TLMA = Average(TLM,Len2);       {simple average of the momentum}

TLMO = K*(TLM-TLMA[1]) +TLMA[1];   {exponential average of momentum}

Plot1(onbaltick,"onbaltick");
Plot2(TLMO,"TLMO");
Plot3(OB,"OB");
Plot4(OS,"OS");

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Attachment: Description: "TLM.ELA"

Attachment: Description: "TLM.ELA"