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Forgot to give credit to the author of the TLM. It was written by Daniel E.
Downing. Attached is a chart illustrating the code.
bobr
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, June 06, 2001 7:20 AM
Subject: [RT] GEN - Tick Line Momentum Oscillator
> 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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>
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Attachment:
Description: "TLM.GIF"
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