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Jimmy.
muito bem (excellent!) as my Portuguese friends are fond of saying.
You are correct in stating that the concept was "invented long ago by
someone else" ... assuming we believe that such things are actually
"invented" as opposed to just being observed and noted.
the first public observations and notes that I am aware of were written by
Richard Wyckoff.
He noted that heavier volume with little price movement characterized
turning points in the market.
This is tantamount to a squat bar as "invented" by bill Williams.... only
Wyckoff's book was written in 1910 and I think bill's stuff started
appearing at best within the last 10 years..
like most of the great "inventions" peddled at seminars and/or in magazines,
there is little that is actually new in this game.
best
dan chesler
-----Original Message-----
From: Jim Osborn <jimo@xxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Monday, December 14, 1998 4:12 PM
Subject: Re: Squat
:"anatop" <anatop@xxxxxxxxxxx> writes:
:>Here is squat for what ever it is worth.
:>
:>{Paintbar: Squat}
:>Condition1 = Ticks[0] > Ticks[1] and MFI(Ticks)[0] < MFI(Ticks)[1];
:
:Um... close, but it's actually: ...and MFI[0] > MFI[1].
:That is, increasing volume AND increasing MFI.
:
:Ol' Bill claims to have invented the concept of MFI, but others
:have pointed out that the concept, in inverse form mathematically
:was really invented long ago by someone else (can't remember who).
:Still, the squat as an indicator that often occurs near turning
:points (what Bill opportunistically calls "fractals") does seem to
:have some value, with enough other stuff around it, and I did first
:hear about the idea from Bill Williams at a TAG lecture.
:
:As far as I can tell, that's the sum total of what Bill has to offer.
:There have been some absolutely scathing reviews of his $5K "course"
:here on this list. Having studied a bit of real chaos/fractal theory,
:I think I can say that Bill's offerings have absolutely nothing to
:do with that branch of mathematics. Just popular buzzwords at the time.
:
:Jim
:
:
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