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Hi, All:
A few ideas:
1. Thomas DeMark's Range Expansion Index is an attempt at solving
the problem of oscillators getting pegged at extreme values during
trends. See his first book for details. (I don't have the Metastock
code.)
2. Tushar Chande also has several relevant indicators: the Chande
Momentum Oscillator (CMO), StochRSI, and Dynamic Momentum Index, in
particular. See his books for details.
3. Martin Pring has had some interesting ideas:
* Look for the lowest momentum readings since the beginning of
an uptrend (& vice versa.)
* Look for mega overbought/ oversolds, i.e., multi-year highs/
lows in the oscillator readings (especially w/ high volume.)
* Look for extreme swings in the oscillator, i.e., moves from
very overbought to oversold (& vice versa) within a relatively
short period of time.
Finally, it's worth noting that in a strong trend non-range bound
oscillators will not get pegged: they'll simply keep rising/ falling
into even more overbought/ oversold regions. (e.g., Close - Moving
Average)
Hope this helps.
Cheers,
CAB.
non-range bound
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