MetaStock formula is posted at:
http://www.cedarcreektrading.com/oscillators.shtml
It is even easy to implement into various backtests.
Spend a little time to backtest it and see if it is worthy of further
interest.
--- In [email protected], "Gerard Carey" <gcfinwrote:
>
> In the middle of my previous post I stated;
> "I plot the LT indicator as a light, dashed line, the MT indicator as
> a dark, black solid line, the ST indicator as a dark, red, solid
> line, and the ST indicator again, as a dark, red, histogram"
>
> What I meant to say was;
> "I plot the LT indicator as a light coloured, dashed line, the MT
> indicator as a dark, red, solid line, the MT indicator again, as a
> dark, red, histogram, and the ST indicator as a dark black solid
> line".
>
> Regds
> Gerard
>
>
> --- In [email protected], "Gerard Carey" <gcfinance@>
> wrote:
> >
> > My pleasure.
> > Steve Karnish combined LinRegSlope with Stochastic Momentum
> > and True Strength, all being momentum indicators in their own
> right.
> > Steve used fibonacci numbers in his formula.
> > I haven't. Not intentionally anyway.
> >
> > From memory, and Steve posted on this list a year or two ago, he
> > likes to use his indicator on less volatile stocks/whatever to
> catch
> > medium-term trend moves.
> > My intention was to use it to catch short-term trends using EOD
> data.
> > While I have not experimented with intraday I see no reason why a
> > version could not be used.
> > Momentum occurs in all markets and time frames.
> > I'm a momentum freak. I'm not AFL proficient by any means.
> >
> > The important thing in my mind is to find a momentum indicator,
> > displaying upthrusts and retreats, that CORRESPONDS to trend line
> > breaks on the price chart.
> >
> > I first plot long-term, medium-term, and short term trend lines on
> > the price chart in different colours.
> > Then I note where trend lines (in all three time frames) are
> violated
> > by price.
> > Next I manipulate a (possible) momentum formula for each time frame
> > until I get a match.
> >
> > I plot the LT indicator as a light, dashed line, the MT indicator
> as
> > a dark, black solid line, the ST indicator as a dark, red, solid
> > line, and the ST indicator again, as a dark, red, histogram.
> >
> > Now I've got my Market Momentum Map which I use as described in my
> > original post.
> >
> > Now, the important question.
> > Is this a good momentum indicator. You bet.
> >
> > Is it one of a kind, in its mathematical construction?
> > I have many others that display very similar results.
> >
> > AB is the hero here in enabling a graphical display from which a
> > comprehensive understanding of the market can be obtained at a
> glance.
> > Even by a drongo like me.
> >
> > Thanks again TJ
> >
> > Regds
> > Gerard
> >
> > ps. Apologies if this explanation got a little long.
> >
> > --- In [email protected], "cstrader232" <cstrader232@>
> > wrote:
> > >
> > > Yes, very interesting.... is the Kaleidoscope known to be better
> > for some timeframes or markets than others?
> > >
> > > thanks!
> > > ----- Original Message -----
> > > From: Steve Dugas
> > > To: [email protected]
> > > Sent: Friday, May 12, 2006 2:01 PM
> > > Subject: Re: [amibroker] Trading the Kaleidoscope
> > >
> > >
> > > Very nice work Gerard - thank you for sharing!
> > >
> > > Steve
> > >
> > > ----- Original Message -----
> > > From: "Gerard Carey" <gcfinance@>
> > > To: "AB Yahoo group" <[email protected]>
> > > Sent: Friday, May 12, 2006 3:00 AM
> > > Subject: [amibroker] Trading the Kaleidoscope
> > >
> > >
> > > // Trading the Kaleidoscope
> > > // Developed by Gerard Carey from Steve Karnish's "CCT
> > Kaleidoscope"
> > >
> > > /* This formula was developed to signal short-term trend changes
> > > in the direction of the CONFIRMED Medium-Term trend - thus
> giving
> > both
> > > long and short opportunities.
> > > See the attachment.
> > >
> > > The red histogram plots the MT trend as being up (above zero
> line)
> > > or being down (below zero line).
> > > The black line plots the ST trend in the same manner.
> > >
> > > /* The long entry is signalled when the red Histogram is ABOVE
> > zero and
> > > the black ST line, after dipping below the zero line, reverses
> > back up
> > > (green arrow).
> > > Likewise, the Short entry is signalled when the red Histogram
> is
> > BELOW
> > > zero and the black ST line, after rising above the zero line,
> > reverses
> > > back down (red arrow). */
> > >
> > > // NB. Exits are NOT sigalled. As usual, signals appear more
> > reliable in
> > > less volatile markets.
> > >
> > > // Trading the Kaleidoscope
> > > CA=LinRegSlope(C,5)
> > > + 100 * ( EMA( EMA( C - Ref( C, -1 ) ,2 ) ,5)
> > > / EMA( EMA( abs( C - Ref( C, -1) ),2 ), 5 ) )
> > > +100 * ( EMA( EMA( C - (0.5 * ( HHV(H,13) + LLV(L,13))),2),5)
> > > / (0.5 * EMA( EMA( HHV(H,13) - LLV(L,13),2),5 ) ) );
> > >
> > > CB=LinRegSlope(C,5)
> > > + 100 * ( EMA( EMA( C - Ref( C, -1 ) ,2 ) ,25)
> > > / EMA( EMA( abs( C - Ref( C, -1) ),2 ), 25) )
> > > +100 * ( EMA( EMA( C - (0.5 * ( HHV(H,13) + LLV(L,13))),2),25)
> > > / (0.5 * EMA( EMA( HHV(H,13) - LLV(L,13),2),25) ) );
> > >
> > > Plot(CA,"Trading the Kaleidoscope",1,4);
> > > Plot(CB," Child",4,4);
> > > Plot(CB,"",4,2+4);
> > > Plot(0,"",4);
> > >
> > > CondA= CB>0 AND (CA<0 OR Ref(CA,-1)<0) AND CA>Ref(CA,-1)
> > > AND Ref(CA,-1)<Ref(CA,-2) ;
> > > PlotShapes( shapeSmallUpTriangle*CondA, 5,L,-100) ;
> > >
> > > CondB= CB<-0 AND (CA>0 OR Ref(CA,-1)>0) AND CA<Ref(CA,-1)
> > > AND Ref(CA,-1)>Ref(CA,-2) ;
> > > PlotShapes( shapeSmallDownTriangle*CondB, 4,H,100);
> > >
> > > --
> > > http://www.fastmail.fm - And now for something completely
> > different.
> > >
> > >
> > >
> > >
> > > Please note that this group is for discussion between users
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> > >
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> > >
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> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > > Please note that this group is for discussion between users
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