StockFetcher Forums · Filter Exchange · THE "ELDER-RAY" PULLBACKS!<< 1 2 3 4 5 ... 10 >>Post Follow-up
klynn55
425 posts
msg #61903
Ignore klynn55
4/28/2008 7:00:31 PM

Riggs; metastock has an elder add/on that may have what you seek!

klynn55
425 posts
msg #61904
Ignore klynn55
4/28/2008 7:04:42 PM

riggs: amibroker has this:
AMIBROKER: Bull And Bear Balance Indicator

In "Bull And Bear Balance Indicator," Vadim Gimelfarb presents a new indicator that tries to provide good estimation of bull and bear power balance without having the drawbacks of similar well-known indicators such as Elder-ray (by Alexander Elder) and balance of market power (by Igor Livshin). Bull and bear balance indicator (BBB) can be easily reproduced in AmiBroker using its native Afl language.

Listing 1 shows ready-to-use code that can be applied in the AmiBroker Indicator Builder. As suggested by the author, the code first calculates bull and bear powers, then smooths them separately with a 20-day moving average, and then smooths their difference (bull and bear balance) with a 30-day moving average. The smoothing periods can be changed on the fly without modifying the code using the parameters window.


LISTING 1
/* Bull-Bear Balance indicator */
BullPower =
IIf( C < O,
IIf( Ref( C, -1 ) < O,
Max( H - Ref( C, -1 ), C - L ),
Max( H - O, C - L ) ),
IIf( C > O,
IIf( Ref( C, -1 ) > O,
H - L,
Max( O - Ref( C, -1 ), H - L ) ),
IIf( H - C > C - L,
IIf( Ref( C, -1 ) < O,
Max( H - Ref( C, -1 ), C - L ),
H - O ),
IIf( H - C < C - L,
IIf( Ref( C, -1 ) > O,
H - L,
Max( O - Ref( C, -1 ), H - L ) ),
IIf( Ref( C, -1 ) > O,
Max( H - O, C - L ),
IIf( Ref( C, -1 ) < O,
Max( O - Ref( C, -1 ), H - L ),
H - L ) ) ) ) ) );
BearPower =
IIf( C < O,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - O, H - L ),
H-L ),
IIf( C > O,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - L, H - C ),
Max( O - L, H - C ) ),
IIf( H - C > C - L,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - O, H - L ),
H - L ),
IIf( H - C < C - L,
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - L, H - C ),
O - L ),
IIf( Ref( C, -1 ) > O,
Max( Ref( C, -1 ) - O, H - L ),
IIf( Ref( C, -1 ) < O,
Max( O - L, H - C ),
H - L ) ) ) ) ) );
s1=Param("Smooth 1", 20, 1, 100 );
s2=Param("Smooth 2", 30, 1, 100 );
SmoothBBB= MA(EMA( BullPower,s1)-EMA( BearPower,s1),s2);
Caption = "Smoothed BBB ( " + s1 + ", " + s2 + " ) ";
Plot( SmoothBBB, Caption, colorBlue, styleHistogram );



macer
22 posts
msg #61915
Ignore macer
4/29/2008 3:30:37 AM

Thanks RIGGS, youíve made a convincing case for Elders book. I think Iíll check it out.

WALLSTREETGENIUS
983 posts
msg #61919
Ignore WALLSTREETGENIUS
modified
4/29/2008 8:38:32 AM

DELETED BY THEMIGHTYRIGGS HIMSELF

klynn55
425 posts
msg #61927
Ignore klynn55
4/29/2008 12:00:06 PM

Riggs; there are multiple coding preferences, metastock, tradestation, etc in the article , Stocks and Commidities,October 2003, Bull And Bear Balance Indicator .
i looked at the histogram, did not test, in and out of markets even with daily chart months at times, QQQQ, for instance histogram under zero from december 2007 till april 7, 2008, spy under zero , 11/12/2007 to 4/18/2007.

alf44
2,025 posts
msg #61939
Ignore alf44
modified
4/29/2008 2:44:53 PM

well...well...well...Riggs is alive...and actually posting here with a new sense of civility !

What a welcome change !

Gotta say Riggs...your posts here (on this thread) have motivated me to blow the dust off my ole copy of "Trading For A Living" and go back and re-re-re-read the Elder Ray stuff.

Keep posting your experience with this indicator and this filter.


Regards,

alf44

WALLSTREETGENIUS
983 posts
msg #61941
Ignore WALLSTREETGENIUS
modified
4/29/2008 3:30:31 PM

DELETED BY THEMIGHTYRIGGS HIMSELF

ludowillems
93 posts
msg #61963
Ignore ludowillems
4/30/2008 10:11:27 AM

I have also read and re-read "trading for a living" , I think anyone active on the markets should read it, espacially the chapters on traders psychology. This purchase was mony well spend.

ilcaa
15 posts
msg #62113
Ignore ilcaa
5/3/2008 5:46:02 PM

excellent filter...

any recommendations on proper exit specific to this filter...

money123
19 posts
msg #62114
Ignore money123
5/3/2008 6:51:19 PM

when is a good time to pull this scan up after before or during the market

thanks

StockFetcher Forums · Filter Exchange · THE "ELDER-RAY" PULLBACKS!<< 1 2 3 4 5 ... 10 >>Post Follow-up

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