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<FONT color=#0000ff
size=2>Anthony,
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size=2>
There may be
different formulae for key reversals, but when you draw Scorpio's key reversal,
as you have described, then it doesn't look quite correct. I think
Scorpio's close should be higher than the previous high.
The definition is a bit sloppy and, depending on where the close is, could
also describe any number of other short term reversal signals as well as giving
false reversal signals.
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size=2>
A key reversal
should look something like an engulfing candlestick does. A key
reversal tends to totally dominate the previous bar. That's why it is a very
powerful short term reversal signal. It should be an outside day and close above
all of yesterday's price action.
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size=2>
I lecture
and set and mark assignments and exams in Technical Analysis for the
Securities Institute of Australia. We have the most comprehensive set of course
notes that you could find anywhere in the world. My definitions were taken from
the course notes which have been written and refined by some very experienced
and well-qualified Technical Analysts over the years.
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size=2>
I do have some
references from the notes. The topic is 'Short Term Bar Chart Analysis'. Some of
these references may not deal with key reversals in particular, but I'm sure
some of them will. I include them all because I don't have all of them nearby to
check.
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size=2>
Elder,A
Trading for A Living chapter 3, section 18, pp
70-73
Gifford, E
Technical Analysis chapter 2
Hill, J R
Technical and Mathematical Analysis of Trends in the Commodity and Stock
Markets lessons 1 and 2
Hill, J R
Stock and Commodity Market Trend Trading by Advanced Technical Analysis
chapter 1
Krastins, I
Listen to the Markets chapter 1, pp5-8, chapter 2,
pp31-50
Murphy, J J
Technical Analysis of the Financial Markets chapter
3
Schwager J D
Schwager on Futures - Technical Analysis chapter 2, pp14-21, chapter 6,
pp83-103 and pp138-141
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I hopethe above
helps.
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size=2>
Kind
Regards,
Larry
Lovrencic
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size=2>
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<BLOCKQUOTE
>
<FONT face=Tahoma
size=2>-----Original Message-----From: Anthony Faragasso
[mailto:ajf1111@xxxx]Sent: Thursday, 29 November 2001
09:24To: amibroker@xxxxxxxxxxxxxxxSubject: Re:
[amibroker] PATTERN FORMULASLarry,This
formula is out of December 2001 technical analysis of stocks
andcommodities, Under Metastock: finding Key reversals, pg.
99.there formula is : L < ref ( L, -1 ) and c > ref( c,-1) and c
< hthis was based on an article by Massimiliano Scorpio : Finding
KeyReversalsArticle wording :" A key reversal up day is
represented by a bar where the low is lowerthan the previous low and the
close is higher than the previous closeand the close must also be lower
than the high."Do you have some reference material describing these
patterns andformulas. Please point me in the direction of some
reference.Is it possible there are a number of different formulas relating
to thesame pattern.I would assume that the formula in TASC would be
correct both by theauthor and by Metastock.Thank
youAnthonyYahoo wrote:> Anthony,Your key
reversal formula is not quite correct.The correct> formula is:
KRbuy=O<ref(C,-1) AND L<ref(L,-1) AND C>ref(H,-1);i.e. The>
bar must open below yesterday's close, today's low must be below>
yesterday's low and today's close must be above yesterday's>
high.Regards,Larry>> -----Original
Message-----> From: Anthony Faragasso
[mailto:ajf1111@xxxx]> Sent:
Thursday, 29 November 2001 03:19> To:
amibroker@xxxxxxxxxxxxxxx> Subject:
[amibroker] PATTERN
FORMULAS>>> 1. Key reversal
: (c > ref(c,-1) and (L < ref(L,-1) and (
c> < h
)));>>>>>>
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