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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: Rob Kipp who wrote (1216)5/26/1997 12:04:00 PM
From: Clueless   of 3325
 
Rob -

I'm actually in the same boat. I just "stumbled" on that system and thought it was nice to dream. Lately I've been playing with OBV()... it's an accumlative stock value indicator.

In WOW OBV() uses today's close minus yesterday's close times volume. Since stock is actually traded during the day over a range of prices, the closing value is not very accurate.

I've tried several variations:
cum( (high-low)*volume )
cum( (close-wc())*volume )
cum( wc()*volume )
cum( (open-close)*volume )

All of them seem to be more accurate than OBV() or at least different.
They all give good entry points when plotted for crossovers on a short term mov() compared to a longer mov().

I've spent a good amount of time trying to determine what core information is best to base systems on(close, wc(), obv(), high, low, open...). It seems to me that the day's closing value is somewhat suspect as being THE key stock value indicator. I would think the opening price would be a more valid indicator (12 hours of thought and research has gone into the purchase). BUT those 12 hours of thought and research are probably based on yesterday's closing price..... I decided to start from the ground up.

I've also found manipulating SI posted systems by replacing "close" with the range of different values to be very interesting. Systems results for some stocks can be dramatically improved.

I only wish the INVALID SYSTEM were valid... we'd all be sitting pretty.

- Mark P.
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