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Steve,
Nice
summary of Brian's talk. A couple of additional points:
The first
line of the calculation should read "bsHigh =bars since swing
high (Strength)"
Default
values are StartSC = 0.2, Sensitivity (Strength) = 1
Brian uses
the BWL on EOD stock data
The
indicator is an exit tool warning of the end of a trend. Close
above/below the BWL alerts user to monitor position in the morning for
follow through.
All best,
Charles Marchand
At 08:21 AM 4/25/02 -0600, you wrote:
List,
7. How to calculate the BWL:
bsHigh = bars since swing
(Strength)
bsLow = bars since swing low
(Strength)
p = min(bsHigh, bsLow)
sc = StartSC / p
BWL = (1 - sc) * BWL(previous) + sc *
Price
Wow, another lagging indicator that behaves
similar to a 21 day simple moving average. Since the implementation
of this indicator is totally subjective and it's not used as a timing
device...personally, I can't find a use for it in my work.
I hope I didn't violate the spirit of this
presentation. Brian is a real pleasant guy. I think I have
the calculations correct. I took notes with a crayon and I spilled
my gin and tonic on the handout he supplied....so, this is my best
shot.
Take care,
Steve
www.cedarcreektrading.com
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