Hi Friends, Here I have a formula for summation index in a indirect form. I need a macd of same summation index. The stock or index buy sell signals will be picked up from macd,signal of summation index to give higher reliability. Two points to note here are I have no data source that gives me exact advance-declines sort of precise data. But that does not prevent me from estimating or calculating summation index. For the users of Amibroker,Tomasz gave a simple but effective formula.
using this afl as step1 can I get to code of MACD of summation index? Can a afl expert help me with coding of MACD of summation index? please extend a helping hand and oblige! the code I have here is --------------------------------------------------- // Tom Demark's DeMarker Indicator // AFL Implementation by Tomasz Janeczko highm = IIf( H > Ref( H, -1 ), H - Ref( H, - 1), 0 ); lowm = IIf( L < Ref( L, -1 ), Ref( L, - 1 ) - L, 0 ); DeMarker = 100 * Sum( highm, 13 )/( Sum( lowm, 13 ) + Sum( highm, 13 ) ); Graph0 = DeMarker; //Can I use SMIDX=DeMarker; //need code to GET MACD OF SUMMATION INDEX why I need MACD of SMIDX? READ below ========================================= I thought in these lines but got stuck,cant move on Plot(( EMA( SMIDX, 26 )- EMA( SMIDX, 12 )), "MACD", colorBlue, styleLine); Plot( EMA( SMIDX, 9 ), "Signal", colorRed, styleLine); _SECTION_END(); ---------------------- reference -background The concept is based on (chuck hughes) summation index Summation Index High Accuracy Indicator Advancing Stocks > Declining Stocks = Bullish Trend Advancing Stocks < Declining Stocks = Bearish Trend Summation Index eBuyf Signal Summation Index MACD is Above 9-Day EMA Summation Index eSellf Signal Summation Index MACD is Below 9-Day EMA MACD (MACD of the stock you are targeting not to be confused with the Summation Index MACD) Intermediate Term Trend System (50-Day and 100-Day EMA cross over) Major Trend System (1-Month Price and 20-Month EMA cross over) If one or more of these three trend following systems is on a gsellh signal and confirms the Summation Index down trend then that stock is a good candidate for a short position. Now This trend confirmation by the three trend following systems is important because there can be stocks in a price up trend when the broad market is in decline. I generally do not recommend shorting stocks as this can be too risky. But in my global powertrend book and wealth creation alliance manual there are systems for establishing short positions with limited risk. ======================================================== Thanks in advance for your time and spirit regards rvlv
