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Modeling the Market by John Ehlers

John Ehlers' article in this issue, "Modeling The Market = Building Trading Strategies,"
presents three new indicators. These indicators and their formulas for MetaStock are shown here.

Instantaneous Trendline

pr:=MP();
len:=20;
sma:=Mov(pr,len,S);
sl:=pr-Ref(pr,-(len-1));
ssl:= (sl+(2*Ref(sl,-1))+(2*Ref(sl,-2))+Ref(sl,-3))/6;
sma+(0.5*ssl)

Cyclic Component

pr:=MP();
len:=20;
a:=1-(Sin(360/len))/Cos(360/len);
hp:=(0.5*(1+a)*(pr-Ref(pr,-1)))+(a*PREV);
shp:=
(hp+(2*Ref(hp,-1))+(2*Ref(hp,-2))+Ref(hp,-3))/6;
shp

Modeling the Market

pr:=MP();
len:=20;
sma:=Mov(pr,len,S);
sl:=pr-Ref(pr,-(len-1));
ssl:= (sl+(2*Ref(sl,-1))+(2*Ref(sl,-2))+Ref(sl,-3))/6;
a:=1-(Sin(360/len))/Cos(360/len);
hp:=(0.5*(1+a)*(pr-Ref(pr,-1)))+(a*PREV);
shp:=
(hp+(2*Ref(hp,-1))+(2*Ref(hp,-2))+Ref(hp,-3))/6;
sma+(0.5*ssl)+shp

--William Golson
Equis International
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