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Applying the same code to the OEX gives a picture of being oversold in an
uptrend, but also running into resistance. Sort of like one of those
invisible astro barriers that for some reason puts a roadblock in the way of
price movement., former support, now resistance kind of thing.
br
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, June 06, 2001 9:11 PM
Subject: [RT] GEN - Tick Line Momentum
> Got to fooling around with weighted, exponential, and triangular averages
> today wondering what they looked like in comparison. Then a little bird
> suggested the Tick Line Momentum code be changed to triangular averages
> rather than exponential. Then one thing led to another and rather than
use
> the TICK in the code the price of data1 was used, and well, it looks kind
of
> interesting, and like other art maybe it has meaning and maybe not.
> Applying the below code to the H, then the C, and the L makes an
intriguing
> trend and momentum picture to these tired eyes. Can any conclusions be
> drawn about the current alignment of the indicators on the right side of
the
> chart? The next few days will tell all.
>
> enjoy,
> bobr
>
>
> Inputs: Price1(C of data1), 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(TriAverage(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){onbaltick[1]+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 = TriAverage(TLM,Len2);
> {TLMO = K*(TLM-TLMA[1]) +TLMA[1];} {exponential average of momentum}
>
> Plot1(onbaltick,"onbaltick");
> {plot1(TLMA,"TLMA");}
> Plot2(TLMO,"TLMO");
> Plot3(OB,"OB");
> Plot4(OS,"OS");
>
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>
>
>
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>
>
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Attachment:
Description: "TLMoex.gif"
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