Most of us who have read Hurst's writtings are well aware of the
general principles involved in PM ... However, there are several
points that should be mentioned or questioned with regards to your
comments ...
1. It is clear from Hurst's course material that PM
and the
techniques therein were, in his mind, a fairly simplistic view of
how
he analyzed price and that the curvelinear trendlines were only a
means for the analyst to discover the cyclic forces in play i.e. a
possible first step in developing a full phasing Analysis ( FPA ) and
using FLD's, VTL's and other techniques ...
2. As far as the tools and
the math involved in the later chapters
and appendicies it is also clear
that Hurst not only employed the
techniques therein but other more
sophisticated techniques that he
didn't really write much about in PM.
Clues to this can be seen in
the bibliography.
3. While PC's and AB
didn't exist in 1970, mainframes and mini's did
and if you recall we had
already managed to get to the moon and back
mostly by use of the slide
rule.
4. The curvelinear bands that Hurst's uses are in essence n period
centered moving averages with percentage or standard deviation bands
around them which by their nature can not be computed closer than n /
2 bars prior to the current bar. As such one must have some
technique
for extrapolating those bands to at least the current bar
and preferably
beyond. Without this capability one would have
already experienced half
the move in the opposite direction when the
CMA catches up.
My
question then is ... If you are using curvelinear bands of one
sort or
another inside AB how are you constructing the bands and what
methodologies are you using to extrapolate them ?
--- In [EMAIL PROTECTED]ps.com,
"Ton Sieverding"
<ton.sieverding@...> wrote:
>
>
Hurst wrote 'The Profit Magic of Stock Transaction Timing' in 1970.
When
the technical annalist was using pencil and paper for his
graphs. Bill
Gates and TJ still did not exist and Hurst was not using
a PC. I've tried
to get the original version of the book but only got
the reprinted version
from 2000. Frankly I have the feeling that
Chapter 11 as well as the
Appendices have been added at the time of
the reprint. This to give you my
opinion how I see the book. It is an
attempt to work with forecasted
envelopes. And a good one ...
>
> For me the practical 'red line'
for using the Hurst principle is as
I told you already rather simple. Try
to construct two trading bands.
A long and a short period trading band.
Hurst tells you how to do
that with pencil and paper. The software today
does it automatically
for you. As soon as the short band is above the long
one and the
price above the short band you will have an 'overbought'
situation.
When the short band falls below the long band and the price is
below
the short band you have an 'oversold' situation. The combination of
these 'overbought' and 'oversold' situations with a falling resp.
rising long trend will give you the SELL and BUY signals. I am using
Hurst with weekly views and indexes and must say that the results are
very good ...
>
> Ton.
>
> ----- Original
Message -----
> From: Rakesh Sahgal
> To: [EMAIL PROTECTED]ps.com
> Sent: Monday, October 09, 2006 3:18 PM
> Subject: Re:
[amibroker] Hurst Channels Code
>
>
> I suggest you get
familiar with the concept of cycles a la Hurst
and
> use of
Curvilinear Bands before you try to comprehend the code. As
> for the
code looking into the future - yes it does.
>
> R
>
> On 10/9/06, Saji Oommen <sajioommen2@...> wrote:
>
> Hello,
> >
> > Thanks for sharing the code. Could you
kindly confirm
> > that does this code have any ZIG function in it
or
> > does it look into future or the signals change when
>
> new data comes in. I read through the code and could
> > not
make it out. I am in the learning process of AFL.
> > So pardon my
ignorance.
> >
> > Regards
> >
> >
Saji
> >
> > --- Ton Sieverding
<ton.sieverding@...> wrote:
> >
> > > The way
I see it is rather simple. Let's take the
> > > S&P500. Using
a weekly view :
> > > a.. Buy when Blue+Red+Price BELOW Green and
Green
> > > rising channel
> > > b.. Sell when
Blue+Red+Price ABOVE Green and Green
> > > falling channel
>
> > Sell Augustus 2000,
> > > Buy March 2003,
> >
> ... still Long.
> > >
> > > Ton.
> >
>
> > > ----- Original Message -----
> > > From:
Rakesh Sahgal
> > > To: Amibroker Yahoogroup
> > >
Sent: Monday, October 09, 2006 10:57 AM
> > > Subject: [amibroker]
Hurst Channels Code
> > >
> > >
> > > For
any of those interested in tinkering with
> > > Hurst Channels,
am
> > > attaching code I had recieved from group member
>
> > Jason Hart. This code
> > > was written by group member
going by the nickname
> > > "Ace".
> > >
> >
> I was not able to make much use of it. The reason
> > > was -
the values of
> > > the channels, current and in the immediate
past
> > > i.e. the projection
> > > zone, were not
constant. Since the values of the
> > > projections
changed
> > > everyday I had no way of making any meaningful
use
> > > of it ( I was
> > > basically looking for
what Hurst called "Edge
> > > Band" Trades). If my
> >
> understanding was incorrect and anyone can make
> > > sense
of them, please
> > > be kind enough to share your insights with
the
> > > rest of us.
> > >
> > >
Rakesh
> > >
> > >
> > >
> >
>
> >
> >
> >
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> >
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