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Bob:
I couldn't find the ELA for the EWOsc you mentioned being posted. I have
the 5/35 osc programmed, but I'm not sure what the 80% bands are that you
mention. Would you might posting the ELA again, or sending it to me(I'm
assuming that you were the one who posted it).
Thanks, John
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>; <MedianLine@xxxxxxxxxxxxxxx>
Sent: Saturday, August 25, 2001 3:31 PM
Subject: [RT] Gen - EWosc suggestions
> Here are some suggestions to consider on use of the EWosc posted
yesterday.
> Other input is welcome.
>
> 1.
> Use the (H+L)/2 input when price levels in the data set are in the same
> ballpark as in intraday data, and use Log((H+L)/2) when they are in
> different ballparks such as on daily or weekly or monthly charts when the
> data set goes back years and decades.
> 2.
> Set the K input to 0.8 for "80%" bands. The default is 1.0 or "100%" and
> you may want to leave it there too for different instruments. The bands
are
> considered strength or breakout bands. Lower levels trigger earlier
> breakouts.
> 3.
> Insert the EWosc 3 times and use 3 different length inputs. These lengths
> were for 60 minute bars and day bars, but may also apply to shorter
> intervals.
> 5/17 for scalpers and little guys with tight stops
> 5/35 for position traders of 1 to 2 days
> 10/70 for commercials
> 4.
> Lay horizontal lines at the -1.4 level when the trend is up. Place it at
> +1.4 when the trend is down. This line is the "shakeout" line for the
> little guys when the commercials are jerking price around for positioning
> like occurred on Friday. When the Little Guy is shaken out but the
> Commercial Osc is still above the -1.4 and turns up and crosses zero and
> then crosses the upper breakout band like on Friday, well, you get the
> picture.
> 5.
> When the Commercial Osc is above the upper band, price is in wave 3. You
> want to be long in wave 3 and ride with the commercials as they are in
> control. Watch for divergences between price and the Oscillators
indicating
> the end of wave 3.
>
>
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>
>
>
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>
>
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