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I use the detrended oscillator and momentum oscillators to guage
overbought/oversold extremes. They appear to be more reliable than the
Kaufman variation. But when you are in a highly trending market, if you
use these indicators (Kaufman's and the ones below) to exit trades, you
will be cutting your profits short if you position trade. They can be
useful for adding & lightening positions, or timing entry.
The URL to view the T-Bond chart using these indicators:
http://www.advsoftware.com/tbnddosc.gif
The source code for the Detrended Oscillator:
-------------------------------------------------
DetrendedOsc Indicator
Variables: DOsc(0), BuyLevel(0), SellLevel(0), AvgDOsc(0), StdDevDOsc(0);
DOsc=Close - Average(Close, 7);
AvgDOsc = Average(DOsc, 120);
StdDevDOsc = StdDev(DOsc, 120);
BuyLevel = (AvgDOsc - (1.5 * StdDevDosc));
SellLevel = (AvgDOsc + (1.5 * StdDevDosc));
Plot1(DOsc, "DOsc");
Plot2(SellLevel, "SellLevel");
Plot3(AvgDOsc, "AvgDOsc");
Plot4(BuyLevel, "BuyLevel");
The source code for the Momentum Oscillator:
-------------------------------------------------
Momentum Indicator
Inputs: Price(Close), Length(10);
Vars: Mom(0), AvgMom(0), StdDevMom(0), UpBand(0), LowBand(0);
Mom = Momentum(Price, Length);
Plot1(Mom, "Momentum");
AvgMom = Average(Mom, 120);
StdDevMom = StdDev(Mom, 120);
UpBand = AvgMom + (1.7 * StdDevMom);
LowBand = AvgMom - (1.7 * StdDevMom);
Plot2(0, "Zero");
Plot3(UpBand, "UpperBand");
Plot4(LowBand, "LowBand");
{Momentum Commentary}
#BeginCmtry
Commentary(ExpertMomentum(Plot1));
#End;
Regards,
James Taylor
TechTrading.com (site located presently at http://www.advsoftware.com)
-----------------
At 05:43 PM 12/18/99 -0600, Mark Brown wrote:
>Hello RealTradersList,
>
> http://www.markbrown.com/pker.htm
>
>--
>
>.oİş°¨¨°şİ[ WWW.MARKBROWN.COM ]İş°¨¨°şİo.
>
>
>
>
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