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Next Day's High & Low Price Target
Arne Gronfeldt Indicator
To: metastock list <metastock-list@xxxxxxxxxxxxx>
Subject: Arne Gronfeldt Indicator
From: Philip <pschmi02@xxxxxxxxxxx>
Date: Mon, 09 Jun 1997 11:39:32 -0400
Resent-Date: Mon, 9 Jun 1997 10:10:19 -0600
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Greetings,

I ran across an indicator attributed to Arne Gronfeldt by a system seller named John Riley (System 2000). I'm not about to buy his system, but the the indicator he describes claims to project the next day's High/Low. Has anyone had any experience with it?

For the next day's Low:

1. add today's H + L + C, then divide the sum by 3
2. multiply the total by 2
3. from that figure, you subtract today's High.

For the next day's High, the formula is the same, except that in step 3 you subtract today's Low.

I haven't tested this indicator extensively, but I dropped it on July sugar, and it looks like the fast track to the poorhouse. Have I just wasted 45 minutes of mine time - and 45 seconds of yours??

Philip

Next Day's High & Low Price Target

{Next Day's High Price Target}
(( h+2*l+c)/2-l);
((2* h+l+c)/2-l);
(( h+l+2*c)/2-l);

{Next Day's Low Price Target}
(( h+2*l+c)/2-H);
(( 2*h+l+c)/2-H);
(( h+l+2*c)/2-H)

Source / From: TOP
http://purebytes.com/archives/metastock/

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