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At the risk of boring everyone to death with this TICK stuff, here is one
last shot. The Closing TICK jumps all over the place depending on the data
source and the time it was stamped. A better approach for EOD timing might
be to apply the same TLM indicator to the High Tick and again to the Low
Tick to get a better more timely view of overbought and oversold.
bobr
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, June 06, 2001 7:24 AM
Subject: Re: [RT] GEN - Tick Line Momentum Oscillator
> 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");
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
>
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Attachment:
Description: "TLM.GIF"
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