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Momentum Trend Change Indicator
Those who know me have found out I vacillate between the VERY complicated
and the very simple. I have been following a few stocks (medium volatility, but good %% moves both up and down over
a 2-5 week time frame) and tracking them with about 15 templates on which most of the formulas that I have acquired reside.

I wanted to track those that did best and thosethat were not as effective. I also tracked those formulas that were latein showing turns in momentum vs those that caught the turn close on. In thisregard, I was looking for finding stocks at intermediate term lows and highs,NOT for indicators that identified stocks that had begun their run in anydirection and were destined to continue. As a result, I came up with a verysimple indicator that showed a HIGH degree of accuracy in "turn-calling",but it did NOT give me indication of the strength or duration of the newmove, only that it probably would occur.

I believe that I have finally discoveredthat any signal of a change in momentum will NEVER give you a sense of strengthor duration BY ITS VERY NATURE, and that only signals that identify stocksWITHIN a momentum trend (ie..already established) are able to do that. Mymomentum trend change indicator is derived from an intermediate trend indicatorI've used for some time in MSWIN 6.0...

PDI(34) - MDI(34)

My new formula is...........


Try it......I think you'll like it......and it's the same coding in WOW,
I believe..........

BW Chan

Momentum Trend Change Indicator

((PDI(8) - MDI(8)) - (PDI(21) - MDI(21))) + (PDI(13) - MDI(13))

 

Source / From: TOP
http://www.guppytraders.com

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