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Last Trough of MMA Convergence
Re: Elliott Oscillator

To: surfingrincon@xxxxxxxx, metastock-list@xxxxxxxxxxxxx
Subject: Re: Elliott Oscillator
From: Tjgarrison@xxxxxxx
Date: Thu, 19 Feb 1998 23:22:16 EST
Resent-Date: Thu, 19 Feb 1998 21:30:14 -0700
Resent-From: metastock-list@xxxxxxxxxxxxx
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Hello,

This is how far I have gotten creating an indicator that will allow me to search my data base and find stocks whose multiple moving averages (TASC Jan 98) are getting close to the same value.

The first indicator calculates the percent difference from all MA's from a middle MA. The second indicator indicates the value of the last trough of this indicator. I set my exploration on the Trough indicator and look for stocks with values <5.5. It has flagged some interesting stocks so far. I still need to continue to experiment with this indicator to determine its true usefulness.

Terry

Short/Long Term MMA Convergence

{This indicator sums the total absolute value of the differences between all moving averages used in the Multiple Moving Average (MMA) template. This metric should provide a buy AND sell signal when it reaches a relative minimum and starts to move up. }

{Short Term Moving Averages}
3ema := Mov(C,3,E);
5ema := Mov(C,5,E);
8ema := Mov(C,8,E);
10ema := Mov(C,10,E);
12ema := Mov(C,12,E);
15ema := Mov(C,15,E);
{ Long Term Moving Averages}
30ema := Mov(C,30,E);
35ema := Mov(C,35,E);
40ema := Mov(C,40,E);
45ema := Mov(C,45,E);
50ema := Mov(C,60,E);
{Cumulative Absolute Error, 30ema as baseline}
(Abs((3ema - 30ema)/30ema) +
Abs((5ema - 30ema)/30ema) +
Abs((8ema - 30ema)/30ema) +
Abs((10ema - 30ema)/30ema) +
Abs((12ema - 30ema)/30ema) +
Abs((15ema - 30ema)/30ema) +
Abs((35ema - 30ema)/30ema) +
Abs((40ema - 30ema)/30ema) +
Abs((45ema - 30ema)/30ema) +
Abs((50ema - 30ema)/30ema)
)*100

Last Trough of MMA Convergence

Trough(
1,Fml("Short/Long Term MMA Convergence " ),
2
)

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