Kevin_in_GA
4,599 posts
msg #92046
- Ignore Kevin_in_GA |
5/4/2010 1:12:25 PM
I build things like this all the time, but I don't trade off of this - i use it as a guide. Combining signals should result in a clearer view of overall market direction, but sometimes these send mixed messages.
All of these approaches are reasonably good at guessing market direction, but none are infallible.
I actually like the NYSE Summation Index (derived from the McClellan Oscillator) as a better means of showing market direction and timing. I can code it in SF, but require a premium membership to plot it on the charts (it requires too many nested user variables to get the calculation right).
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karennma
8,057 posts
msg #92051
- Ignore karennma |
5/4/2010 4:40:32 PM
Kevin_in_GA
- Kevin_in_GA 5/4/2010 1:12:25 PM
I actually like the NYSE Summation Index (derived from the McClellan Oscillator) as a better means of showing market direction and timing. I can code it in SF, but require a premium membership to plot it on the charts ..
======================================================
So, Kevin ... do you have the premium membership?
Did you code it?
If so, would you kindly post the url?
THANKS.
:>)
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Kevin_in_GA
4,599 posts
msg #92052
- Ignore Kevin_in_GA |
5/4/2010 4:45:32 PM
You can pull it up on stockcharts.com (the symbol is $NYSI).
I did code it, and can get the value in an added column, but for some reason cannot plot it out like I can for the other indicators.
I'll post the code for this when I get home.
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Kevin_in_GA
4,599 posts
msg #92128
- Ignore Kevin_in_GA |
5/5/2010 1:49:48 PM
Well, my summation index code does not generate the same values as shown in the $NYSI chart from stockcharts.com. Probably best for those who are interested to simply paste this link to the chart into their browser, and add it to their Favorites list:
http://stockcharts.com/h-sc/ui?s=$NYSI&p=D&yr=0&mn=6&dy=0&id=p67621060186
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chetron
2,817 posts
msg #92130
- Ignore chetron |
5/5/2010 2:08:17 PM
AND YOU DON'T LIKE TOMM'S SUMMATION INDEX, WHY?.........
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Kevin_in_GA
4,599 posts
msg #92132
- Ignore Kevin_in_GA |
5/5/2010 2:46:15 PM
The McClellan Summation Index is not summed over 100 days, but rather twenty, and this is not ratio-adjusted. Even when I do it in the same fashion and use the 20 day summation, it ends up different. There are two alternate ways to calculate it as well.
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chetron
2,817 posts
msg #92166
- Ignore chetron |
5/5/2010 8:09:45 PM
IT IS THE SAME WAVEFORM, ONLY THE SCALE IS DIFFERENT, THE UNADJUSTED USES ZERO AS THE CENTER LINE AND THE ADJUSTED PUTS ZERO AT THE BOTTOM.
ALL THE READING I HAVE DONE ON IT'S USE ALWAYS REFERS TO THE UNADJUSTED INDEX USE, IE: ZERO CROSS, BELOW -100, AND ABOVE 200.
BUT IT IS THE SAME WHEN YOU SUM IT BY 20 OF COURSE.
HTH
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Kevin_in_GA
4,599 posts
msg #92361
- Ignore Kevin_in_GA |
5/8/2010 7:38:53 PM
Obviously in case anyone hasn't noticed, the market seems to be in correction/downturn.
Note that the Four Horsemen filter I posted at the beginning of the week is reading negative on all four indicators, and has been doing so for the past few days - this has not been seen since March of last year. Keep an eye on these, because when used in conjunction they are very helpful in timing the market.
Hopefully this will be a buying opportunity for those sitting on the sidelines. I would wait for at least two of these to cross into positive territory (and stay there for a few days) before buying back in. For those who are more risk-tolerant, I would look at the VIX for my signal to enter (cross back inside the BB(9,2) from below on a white candle, preferably on higher volume than average).
Good luck to all.
Kevin
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jackmack
334 posts
msg #102421
- Ignore jackmack |
8/23/2011 4:42:04 PM
Kevin
I asked the other day if there was a way to put up a chart where you would be able to overlay the ETF's
in the PORTFOLIO SELECTION AND MANAGEMENT USING RISK/REWARD RATIOS thread in order
to see how they were moving in relation to one another (for us chartists out there).
Would it not instead be possible to just use the Four Horsemen to enable the search results for charting to
be indicated using your filter from that in order to give one a snap shot of each ETF and how they are moving
in time (since non correlated) to one another in order to see a potential change coming from the charts?
Please advise
Thank you
jackmack
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Kevin_in_GA
4,599 posts
msg #102442
- Ignore Kevin_in_GA |
8/24/2011 12:10:31 PM
Jackmack:
The short answer is "no" - unless you have an advanced subscription to SF (I don't). Even then I'm not sure that this could be done. That's why the ranking and 14 week performance columns are so useful. You don't need a visualization of all of the asset classes when your buy/sell decisions are made on only the top one, which is easy to see in the table format of the filter.
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