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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: F Robert Simms who wrote (2045)7/15/1997 11:32:00 PM
From: Bill Sandusky   of 3325
 
Bob,

Need to know which formula you're using with BradCCI. Have relabled all previous terms in hopes we'll all be singing from the same hymnal when discussing BNS. Brook said she posted the inputs and formulas with new names on her web page but I've not seen them. New names for the various indicators that make up the BNS are as follows:

RedLine Indicator - CycleTrader Proprietary Indicator
Chaikin Oscillator
AvgPrice
StdDev

Here's the three variations of AvgPrice:

AvgPrice - Includes parenthesis in denominator
AvgPrice1 - Removes parenthesis from denominator
AvgPrice2 - Removes entire denominator

Have started overlaying AvgPrice, AvgPrice1 and AvgPrice2 in a separate plot area as result of the ongoing discussions here to check effect of removing parenthesis, etc. Have found some interesting patterns as a result. All three indicators seem to "pinch" together at buy/sell points as an example.

Don't think I can really answer your question reqarding how high is high or how low is low for AvgPrice except to say that maximum levels tend to be reached when the RedLine indicator is maxed out at overbought/oversold levels. One can never be absolutely sure that the AvgPrice indicator won't turn back after moving off this high or low extreme. Remember, this is "work in progress" and there's still much to be learned.

Bullish conditions seem to exist when the AvgPrice (yellow) remains above or crosses above the (white) StdDev line but this is not always the case. Bearish conditions, on the other hand, seem to exist when the yellow line crosses below the white line. These conditions appear to be true about 75% of the time. But I've also seen just the opposite (unpredictable conditions) the remaining 25% of the time. In spite of all the inconsistencies, I remain encouraged we'll find something useful here. Appreciate your efforts to improve the system.

Sorry I couldn't do a better job answering your question.

Bill
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