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Strategies & Market Trends : TA-Quotes Plus
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To: Douglas Schneider who wrote (63)11/21/1996 12:06:00 PM
From: Bob Sage   of 11149
 
Doug,

Re: Exponential Moving Averages. I did some testing using the formula in Achelis book compared to QP and to DJMA+. QP does not agree with the other two. The differences are relatively small but enough to delay a crossover in some cases. To compensate I am factoring down the 40ema by 5% in QP scans where I am looking for 5ema crossing up through 40ema. This may include some stocks that have not actually crossed but they can be skipped when reviewing the charts in other s/w.

I sent the following to Gary at QP.

I am having a problem with the calculated values for ema's in scans. It appears that the calculation does not start back far enough and therefore misses crossovers of 5 and 40 ema's by a few days. We talked about this several days ago in regards to the problem when displaying short time frame charts and you said you would look into it. Any thing further?

Gary's reply

There are 2 things going on here.

1 - The ema calculation we used came from Martin Pring's reference
book. It clearly describes how to calculate an ema, the only problem
is that the way he does it is not the same way Metastock and indows
on Wallstreet calculate it.

I've changed the calculation to be the same as Metastock and WOW. I'll release it in a day or 2.

2 - The ema calculation is dependant on how many days are used to
calculate it. This is true for either method of calculation. On the chart program, the number of days on the screen are used in the calculation. In the scan program, the number of days used to calculate the ema is equal to the length of the ema. I.e. if you ask for a 5 day ema, then 5 days are used in the calculation. There is no way to change this in this release.

I'll let you know when the ema update is available. It's in and tested, but not packaged for delivery yet. It should be this week.

Bob
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