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Andrew,
I appreciate your comments.
I 've no books so.. I don't know enought about whait is already done
but I 've taken the idea of the Momentum formula and not from any
other price oscilator.
I 've put '-1' thinking a base line and FOR ME was a cosmetic
chose.
Thank U one more time for explain me the theory of others indicators.
:)
Pablo
AT> Hi Paolo
AT> The oscillator you are describing is simply showing the deviation of the
AT> close from an exponential moving average expressed on a percentage basis. It
AT> is similar to a number of oscillators described in the literature - e.g.
AT> DiNapoli's detrended oscillator, which is the close minus the MA. The only
AT> difference here is expressing the change on a percentage basis and using an
AT> EMA instead of a SMA. If you normalize the deviation by dividing by the
AT> standard deviation you get a Bollinger Band variant (close to %b) if you
AT> normalize by ATR you get what I call the Moving Average Deviation. It is
AT> used in many cases (e.g. DiNapoli) as on overbought/oversold indicator. You
AT> and every other user are, of course, free to use it in whatever way you
AT> like.
AT> With respect, the '-1' is not cosmetic. Mathematically, C/MA -1 is the same
AT> as (C-MA)/MA, i.e. the deviation of the close from the MA expressed as a
AT> percentage of the MA.
AT> It's great fun playing with indicators in MetaStock. And varying the
AT> formulae can be a good way to appreciate how they work. But you do often
AT> find that someone had the same idea already.
AT> Best
AT> Andrew
AT> -----Original Message-----
AT> From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
AT> On Behalf Of Paolo
AT> Sent: Sunday, May 21, 2006 8:26 AM
AT> To: equismetastock@xxxxxxxxxxxxxxx
AT> Subject: Re[2]: [EquisMetaStock Group] A Metastock Price Oscilator
br>> What parameters do you use with the Ultimate ROC?
AT> Dear Bill,
AT> the only parameter in this very-simple indicator is the 'number of
AT> periods' (days) of the moving average.
AT> By default it's 12.
AT> So the formula can be more simple yet:
AT> (CLOSE / (Mov(CLOSE,12,E) )) -1 ;
AT> The "-1" is just cosmetic :)
AT> "Andrew Tomlinson" <andrew_tomlinson@xxxxxxxxxxx> wrote:
>> Like any other oscillator, though, it can show overbought or
>> oversold conditions that are surprisingly persistent, so you should
>> always wait for price confirmation.
AT> Andrew: this indicator do not show overbough or persistent oversold
AT> conditions. It's very diferent to RSI or Stochastic oscilators.
AT> Thank U very much for your comments :)
AT> Pablo
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Pablo Bozzolo
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