|
PureBytes Links
Trading Reference Links
|
Alan,
Let me begin by stating that Dr.Alexander Elder
is not my friend, relative nor am I associated with him in any way.
If I were you, I would not be calling
Dr.Alexander Elder a shyster or conman.
Firstly, I suggest that you write four or five
books, come up to his level, and then call him a shyster.
Secondly, the MACD was devised by Gerald Appel,
and not Dr.Elder.
Thirdly, there are several of Dr.Elder's maths
converted to indicators. Force Indicator is one which comes to my mind
straightaway.
Fourthly, it is not his fault that you have not
heard of him. You are just advertising your ignorance. He too has not heard of
you.
There are several people on board this group who
help Metastock users stuck in a jam. Everyone here has certain special skills
and many come forward to offer assistance without any expectations of any
rewards, except an acknowledgement of their contributions.
You seem to be young, by the flow of your
comments. And a relatively new user of MS. For
your necessary information, even Metastock's MACD is not
exactly what Appel has written it like, because of MS's
handling of its maths, and taking legitimate "shortcuts".
So do not think that MS is the ultimate math
tool.
My very humble suggestion will be to please
temper your tone of posts, and you will receive a lot. Later you also will be in
a position to offer something back to the group.
DusantChief Architect<A
href="">http://www.candlestrength.com/
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=alan_davidson22@xxxxxxxxxxx
href="">Alan Davidson
To: <A
title=equismetastock@xxxxxxxxxxxxxxx
href="">equismetastock@xxxxxxxxxxxxxxx
Sent: Wednesday, March 31, 2004 3:03
AM
Subject: Re: [EquisMetaStock Group]
Weekly MACD histogram
Roy,Thanks for your
excellent advice. As a newbie, it's difficult for me to know what to
believe and what not to believe on the internet. That's why I wish I
could analyse any formula that I find - such as the weekly MACD in my
post.I found the weekly MACD histogram formula at:<A
href="">http://www.paritech.com/education/technical/custom/indicators/macd.aspI
have already posted your reply on their Metastock forum, so hopefully they
will remove their formula from their site, or at least try to justify
it.There's a fiendishly complicated formula for weekly MACD at:<A
href="">www.users.bigpond.com/prominex/MetaStock/Roy-63.txtI
suspect that the Paritech formula is trying to calculate MACD for Friday's
closing prices only. I verified this by plotting all the individual bits
and pieces as separate indicators, because I'm too inexperienced to
understand the formula. (If you know anyone who understands the bit
between the {start} and {end}, could you ask them to explain it. It
doesn't matter whether they agree with it or not. At least I'll
learn something.) I suppose it makes some sense: the daily
MACD formula is based on daily closing prices, so the weekly MACD formula
is based on Friday's closing prices. Presumably, if there were a
monthly MACD histogram, it would be based on monthly closing
prices.I agree with your comment that the Paritech daily MACD is
"slightly off". I found this description of the daily MACD histogram
in a book by someone called Dr. Alexander Elder (why do all conmen and
shysters call themselves "Dr"):Page 129:1. Calculate the
12-day and 26-day exponential moving averages of closing
prices.2. Subtract the 26-day EMA from the 12-day EMA to obtain the
fast MACD line.3. Calculate a 9-day EMA of the fast MACD line to
obtain the slow Signal line. Plot both lines to obtain the classic MACD
indicator.4. Subtract the Signal line from the MACD line to obtain
an MACD-Histogram.The "MetaStock canned version", as you call it,
is bound to be superior, because at least I've heard of Equis :-), but
I've never heard of Dr. Alexander Elder.Thanks for your
help.Regards,Alan--- In <A
href="">equismetastock@xxxxxxxxxxxxxxx,
"Roy Larsen" <rlarsen@x...>
wrote:> Alan> > > > > I found the
following formulas for daily and weekly MACD:> > Don't take
everything you find on the net as being accurate or even close to what
they purport to> be. The daily MACD below is OK although slightly off
the MetaStock canned version. The "weekly MACD"> is not even close.
Ask yourself how a weekly formula can show 5 different values during one
week,> none of which are anywhere near accurate.> > If
this works for you then great, but a weekly MACD it is not.> >
Roy> > > Daily:> > ( Mov( {start}C{end},12,E ) -
Mov( C,26,E ) ) - Mov( ( Mov( C,12,E ) -> > Mov( C,26,E )
),9,E )> >> > Weekly:> >
Mov({start}If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1))> >
{end},60,E)-> >
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E)-> >
Mov(Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),60,E)->
>
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E),45,E)>
>> > As a newbie, I'd be grateful if someone could help me to
understand> > the bit of the weekly formula between the {start}
and {end}> > comments.> >> > I know that this
will correspond to the "C" between {start} and {end}> > in the
daily formula.> >> > I understand what "Peak"
does.> >> > I don't understand what "DayOfWeek" is
doing.> >> > Regards,> > Alan>
>> >> >> >> >> >>
>> > Yahoo! Groups Links> >> >>
>> >> >> >>
>------------------------ Yahoo! Groups Sponsor
---------------------~-->Buy Ink Cartridges or Refill Kits for your HP,
Epson, Canon or LexmarkPrinter at MyInks.com. Free s/h on orders $50
or more to the US & Canada.<A
href="">http://www.c1tracking.com/l.asp?cid=5511<A
href="">http://us.click.yahoo.com/mOAaAA/3exGAA/qnsNAA/BefplB/TM---------------------------------------------------------------------~-> Yahoo!
Groups Links<*> To visit your group on the web, go
to: <A
href="">http://groups.yahoo.com/group/equismetastock/<*>
To unsubscribe from this group, send an email to:
<A
href="">equismetastock-unsubscribe@xxxxxxxxxxxxxxx<*>
Your use of Yahoo! Groups is subject to: <A
href="">http://docs.yahoo.com/info/terms/
Yahoo! Groups Sponsor
ADVERTISEMENT
Yahoo! Groups Links
To visit your group on the web, go to:http://groups.yahoo.com/group/equismetastock/
To unsubscribe from this group, send an email to:equismetastock-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
|