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Hi Preston,
Good, I'm glad that you have the attachment now.
I believed that I had attached it to the original post, but Yahoo Mail must have dumped it,
or else I didn't attach it correctly. Either way, my apologies for any inconvenience.
I found the "Traders Consortium" site which also looks good and I have posted a few things there as well.
Some of your readers may also be interested in that site.
With best regards,
from TonyM.
=============================================
----- Original Message ----
From: pumrysh <no_reply@xxxxxxxxxxxxxxx>
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Wednesday, June 20, 2007 5:13:05 AM
Subject: [EquisMetaStock Group] Re: Palmer Indicator
Never mind, I found it on Traders Consortium and uploaded it in the
files section as
Apple PalmerVolume Ind.jpg
Preston
--- In equismetastock@ yahoogroups. com, pumrysh <no_reply@xx .> wrote:
>
> Tony,
>
> Either you forgot to attach the chart or Yahoo dumped it.
> Better option would be to upload one to the files section.
>
> Preston
>
>
>
> --- In equismetastock@ yahoogroups. com, Tony M <t4tonym@> wrote:
> >
> > Hi Mark,
> >
> > Preston's formula does exactly what you asked for, so I'm not
> quite sure why you say that it's "not exactly what you were
looking
> for" ..... ??? However an alternative, longer and less elegant
> (but perhaps more "English language-like" ) coding of your concept
> might be:
> >
> > {$$$$$$$$$$$ $$$$$$$$$ $$$$$$$$$ $$$$ :-)}
> > HighestVolume45d: = HHV(V,45);
> > LowestVolume45d: = LLV(V,45);
> > VolRange:= HighestVolume45d - LowestVolume45d;
> > Palmer:= 100*V/(VolRange + 0.000001);
> > Smoothed:=Mov( Palmer,5, E);
> > BuyThreshold: =67;
> > SellThreshold: =33;
> > BuySignal:=100;
> > SellSignal:= 0;
> > SignalOutput: = If(Smoothed> BuyThreshold, BuySignal, If
> (Smoothed<SellThres hold,SellSignal, 50));
> > {Now display results: 100= (your idea of) "Buy", 50=Null, 0=
(your
> idea of) "Sell"}
> > Smoothed;
> > SignalOutput
> > {$$$$$$$$$$$ $$$$$$$$$ $$$$$$$$$ $$$ :-)}
> >
> > Attached is a chart for you showing Apple Computer (APPL) price
in
> the middle window and
> > in the bottom window the actual volume (dark red bars), your
> smoothed "Palmer Indicator" (bright red line),
> > and your proposed indicator (light blue line).
> >
> > What you can see is that the indicator response due to high
> volume (your proposed "Buy" signal) appears to make sense and to
> correspond to price turning points, either tops OR bottoms, but
the
> low volume response (your proposed "Sell" signal) really does not
> correspond to anything.
> >
> > This is because the big price action occurs when a lot of people
> (or a few people with very big orders) are in the market and the
> volume is high. Therefore I suggest that you re-examine your
> indicator, forget about the low volume threshold (because nothing
> much is happening then), try adjusting the high volume threshold
> value a bit, and use this high volume response not as a buy
> indicator (your original concept) but rather as an an indicator
for
> TURNING POINTS, which could be EITHER tops or bottoms.
> >
> > If you want to read an intersting book about using volume to
help
> your trading, you might try Donald Cassidy's book "Trading on
> Volume - The Key to Identifying and Profiting from Stock Price
> Reversals". (McGraw Hill publishers, 2002).
> >
> >
> > Happy trading,
> > Cheers,
> > TonyM
> >
> >
> > ----- Original Message ----
> > From: markumansky <no_reply@xxxxxxxxxx s.com>
> > To: equismetastock@ yahoogroups. com
> > Sent: Thursday, May 24, 2007 3:50:36 PM
> > Subject: [EquisMetaStock Group] Re: Palmer Indicator
> >
>
> >
> >
> >Preston,
> >
> >
> >
> > Not exactly what i was looking for but thank you for your
> suggestion
> >
> > and assistance. Its very much appreciated! !!
> >
> >
> >
> > Regards,
> >
> > Mark
>
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