StockFetcher Forums · General Discussion · You favorite values...<< 1 2 3 >>Post Follow-up
Stocksight
33 posts
msg #46985
Ignore Stocksight
9/16/2006 4:01:33 AM

"Price Oscillator(3,10,16) -> obviously similar to a MACD"
------------------------------------------------------------
alf44,
Is this the PPO calculation via Quotetracker? I don't see anything comparable on SF. The SF APO, PPO and DPO only accept two parameters.
Thank you



alf44
2,025 posts
msg #46990
Ignore alf44
modified
9/16/2006 5:29:47 PM

Stocksight,

You posted...

-----------------------
"Price Oscillator(3,10,16) -> obviously similar to a MACD"
------------------------------------------------------------
alf44,
Is this the PPO calculation via Quotetracker? I don't see anything comparable on SF. The SF APO, PPO and DPO only accept two parameters.
-----------------------

No !

It's not quite the same calculation.

Typically, a MACD is the difference between 2 Exponential MAs [say a EMA(3) minus an EMA(10)]...the "fast" line...then a 16 period EMA of that 3 minus 10 is calculated and used as the "slow" line of the MACD indicator ! The difference in the 2 EMAs is expressed in points.

The typical PPO is calculated much like the above MACD except that the difference between the 2 EMAs [(say a EMA(3) and an EMA(10)] is expressed in percentages.

But...basically the MACD and the PPO appear identical on a chart and are for all intents and purposes...identical indicators.

I always laugh when I go to message boards where some poster has posted a chart (something I wish we could do here at SF but can't) and he/she has the chart accompanied with no less than 15 indicators. Almost always there will be a PPO and a MACD of the same parameters. HELLO ! Why do you need 2 "identical" indicators...and...why do you need 15 indicators in the first place ? But I digress !

Now...back to the other part of your question...the APO and the DPO ! To be honest I have not tried either of these. The APO does appear to be similar to what I use but as I have never played around with it I'm just not sure.

I just wrote MY OWN criteria to create "MY Oscillator" !

The 3/10/16 Price Oscillator I use in my SF filters is calculated as follows:

-------------------------------------

set{myOSC, MA(3) - MA(10)}
set{myOSCtrend, CMA(myOSC,16)}

and...to draw it on an SF chart you will need this:

draw myOSC
draw myOSC line at 0
draw CMA(myOSC,16)

-------------------------------------

Here's a simple filter for illustrative purposes only to show the 3/10/16 Oscillator:

Fetcher[set{myOSC, MA(3) - MA(10)}
set{myOSCtrend, CMA(myOSC,16)}

Show all stocks where Price is between 24 and 25

draw myOSC
draw myOSC line at 0
draw CMA(myOSC,16)

chart-time is 3 Months
]


--------------------------------------

As you may notice I am using Simple MAs instead of Exponential MAs in the calculation. That is the ONLY difference in this "3/10/16 Price Oscillator" and a standard "3/10/16 MACD" !!!

Bottom line...there's not a hellava lot of difference. A standard MACD will work just fine...and in the case of QuoteTracker (which you mentioned) I use a 3/10/16 MACD because I'm not able to designate the Moving Averages "Simple" ! I'm forced to use "Exponential" Moving Averages.


Regards,

alf44



poindexter
21 posts
msg #47006
Ignore poindexter
9/17/2006 4:19:33 AM

^^^^

It's not your oscillator. It's Linda Raschke's oscillator from "street smarts". Give credit where credit is due.


Stocksight
33 posts
msg #47010
Ignore Stocksight
9/17/2006 1:37:20 PM

alf44,
Thank you for the thorough explanation and examples. It was very helpful and saved me hours of LBR etc. research. I appreciate the contribution and the willing sharing your trading strategy.
Sincerely,
SS


alf44
2,025 posts
msg #47008
Ignore alf44
modified
9/17/2006 3:38:31 PM

I label it "my oscillator" because it is in "my filters"...and the StockFetcher set statements used to define it were written by ME !

I certainly didn't "invent" it !

For the record, it ain't Rashke's oscillator either !

The 3/10 Price Oscillator has been around for a hundred years...and was around LONG before "Street Smarts" !

Also, much of what LBR does herself...she adapted from George Douglas Taylor's 3 day cycle stuff and Toby Crabel's (NR4s/NR7s etc...) Range Contraction/Expansion stuff !

"poindexter"...if you go back and read my posts you will notice that most of what I try to do is based on LBR's work. My Range Contraction/Range Expansion filter was inspired by LBRs work. I have repeatedly given her credit and have even said here in these forums that LBR is the closest thing to a "trading mentor" I have. I have been following LBR since the early 90s and have tried to read everything she has ever written...INCLUDING..."Street Smarts" !



Regards,

alf44



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