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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: Eliot A who wrote (3124)3/29/1998 5:04:00 AM
From: Mark   of 3325
 
Eliot A,
I am challenged, with my various limitations, but trying to make up for it with humbleness and exuberance<gg>.
Currently using Easy Language(E.L.)which is the formula editor for SuperChart by Omega Research. I am not qualified to make any other comment about it.
If you can accept DAHL'S primary trend as an approximation to slope of the underlying MA, then dahl as an indicator is depicting the rate of change in price. Now the problem is that only looking at dahl being positive (or negative), the price could be heading in the opposite direction for a while and dahl will remain in the positive(or negative) territory. There are a number of ways to correct this but each will introduce its own problems and some will even take away the goodness of dahl! By looking at the slope of dahl we can examine the rate of change of the trend, which might be an earlier clue as to what might be coming. There are other indicators with which I am not familiar yet, but the name implies something of the same concept as above. e.g. momentum...and other divergence indicators. So it could be that I am "reinventing..." but it is fun.:)
Now the second derivative is merely the extension of this same idea (yes, you recall correctly), here we are interested in point of infliction.(zero) When all three lines are looked at the same frame, they might indicate a top or bottom-a turning point. Please realize that I am just toying with these and have not checked to see the consistency or merits of this last concept yet. I don't believe in prediction and merely looking to establish the weight of the evidence. best regards, ST
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