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Larry,
Your indicator measures an aspect of volume that I have only looked at
qualitatively. That is, the cyclicality of volume itself. I know that
volume tends to peak just before tops and bottoms and your indicator could
show those peaks and make tape reading easier.
I have normalized the PVT() indicator and use it much like a regular price
stochastic with the same kinds of signals. PVT() is an on balance volume
type indicator described in the Equis manual. The formula for the fast
(signal) line of my stochPVT() is
Mov((PVT()-LLV(PVT(),19))/
(HHV(PVT(),19)-LLV(PVT(),19)), 5, S)
The formula for the slow line is a three day moving average of the fast line
and is given by:
Mov(Mov((PVT()-LLV(PVT(),19))/
(HHV(PVT(),19)-LLV(PVT(),19)), 5, S),3,S)
When these lines are plotted in an inner window, they give an indication of
whether volume is flowing in or flowing out of a stock. I use it for
secondary confirmation of my analyses. I have never tested or optimized it
so it may not be worth what you paid for it.
Dan
>From: "Larry & Paula" <larry@xxxxxxxxxx>
>Reply-To: metastock@xxxxxxxxxxxxx
>To: <metastock@xxxxxxxxxxxxx>
>Subject: Re: Volume Indicaters
>Date: Sun, 10 Jun 2001 19:59:53 -0700
>
>That's right but when they diverge and start heading back towards each
>other that looks like its when there's a change of trend.
> ----- Original Message -----
> From: Lionel Issen
> To: metastock@xxxxxxxxxxxxx
> Sent: Sunday, June 10, 2001 6:49 PM
> Subject: Re: Volume Indicaters
>
>
> When they are set to the same parameters, the stochastic oscillator and
>the stochastic momentum indicator appear to give closely similar curves and
>signals.
> Lionel Issen
> lissen@xxxxxxxxxxxxxx
> ----- Original Message -----
> From: Larry & Paula
> To: metastock@xxxxxxxxxxxxx
> Sent: Sunday, June 10, 2001 12:55 PM
> Subject: Volume Indicaters
>
>
> Greetings
> Long time lurker and have only asked a few questions in the past four
>years. How so ever I have been a little unhappy with the volume indicators
>that are available and so I tried something new, that is was new to me.
>
> One of favorite indicators is the Stochastic Momentum Index set at
>5,3,3 so I made one for volume. I like the way it appears to be working
>so far. I haven't used it long enough to know it inside out but there is
>some promise here.
>
> It can divert and can turn before tops and bottoms. Using it with
>Stochastic Momentum Index makes for an interesting study. Here is the
>formula, some of you wizards at there maybe able to help improve it.
>
>
>100*(Mov(Mov(V-(0.5*(HHV(V,5)+LLV(V,5))),3,S),3,S)/(0.5*Mov(Mov(HHV(V,5)-LLV(V,5),3,S),3,S)))
>
> And then I use a three day moving average from there.
>
> Maybe some one has a favorite custom volume indicater that they would
>like to share.
>
> Prosper and Good Health
> Larry
>
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