Momentum Trend Indicator
Printed From: BullCharts Forum
Category: BullCharts
Forum Name: BullScript
Forum Discription: Technical discussion related specifically to the BullScript programming language.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=708
Printed Date: 18 May 2024 at 11:23pm
Software Version: Web Wiz Forums 9.69 - http://www.webwizforums.com
Topic: Momentum Trend Indicator
Posted By: Tanaka
Subject: Momentum Trend Indicator
Date Posted: 04 Jun 2011 at 10:50pm
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Howdy all, I was wondering if anyone could help me make a signal from this indicator: If(ma(C-Ref(C,-5),10,E)>(ma((Ref(C,-1)-Ref(C,6)),10,E)),1,-1) It would be handy for it to display above/below zero. Cheers, Tanaka |
Replies:
Posted By: maximo
Date Posted: 08 Jun 2011 at 12:27am
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Hi Tanaka,
This is a devious indicator. It waits for 6 future bars at which point it then draws the indicator.
This makes it look incredibly good on past results, but it cannot make a current signal due to this waiting for 6 future bars. ie. it's this part-> Ref(C,6)
The gap of 6 most recent bars when plotting the indicator makes this evident. Some might say this is clever, but others would call it hindsight.
If you were to make a signal from this, it would be 6 days old. Do you want to trade signals that are from 6 days ago?
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Posted By: Tanaka
Date Posted: 08 Jun 2011 at 7:49pm
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thanks maximo, I see what you are saying, LOL, knew it was too good to be true. Ow yeah, I don't need it to produce a signal because I can do it by getting the bull scan to look back X of days and then it produces results. thank you for the reply.
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