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Hi,
I've read the book from Dr Alexandra Elder called "Come to my trading room". I'm quite convinced that the MACD Histogram Divergence is one of the most strongest signal in TA. I've found the formula code for metastock as below but it does work. Please help!
MACD Histogram Divergence
This explorer looks for stocks exhibiting extreme divergence from the MACD Histogram. In his book "Trading for a Living", Alexander Elder argues that divergence from the MACD Histogram gives the strongest signals in the whole of technical analysis.
{Copyright Content Removed} Regards,
Toyogo Edited by moderator Monday, November 23, 2015 11:06:48 PM(UTC)
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Hey Toy-
Elder's work is copyrighted and cannot be published in this forum. However, you can get a set of his indicators from Equis Sales. Follow this link: https://www.metastock.co...roduct.aspx?c=2&p=71
Also, for the money, you might want to check out Jose's site. IMO, an even better deal. I use both products with complete satisfaction. Edited by moderator Monday, November 23, 2015 11:11:37 PM(UTC)
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Rank: Member
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Hi,
I've checked both products but equis does not come with explaination (such as chart example etc), I've spoken to Jose but he cannot provide very good trial for me to test the formula. Equis is about USD250 and Jose's one is about USD490. I really need only one but there is no sufficient information for me to decide which one to get. Pls advise if you know the pros and cons of both products.
Regards,
Toyogo
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Rank: Advanced Member
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Well, the plus to both systems is that the formulas are revealed. Elder's formulas are covered in his book, so you can follow his thinking. Jose's book is yet to be written. ;-)
Jose's stuff seems complex to my simpleton brain, but I like printing his stuff and putting it into a notebook, cause I feel more knowledgable just looking at his stuff. LOL!
Seriously, Jose's stuff is well thought out and thoroughly tested with statistics to back it up. That's impressive... at least to me. Plus, if I need something, I can talk to him anytime... he answers his email. I like that. Jose is constantly tweaking his stuff for max performance... you get free upgrades. I think the Elder work is done and new ideas are on the horizon... based on reading newsletters.
Anyway, price difference aside, I think you get a lot more with Jose's products. If you just want access to Elder's formulas, then I'd go that route (avail: www.elder.com). Jose's stuff is much more comprehensive. Now, if he'd just start having annual retreats on exotic isles, Elder would be a page in history.
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Rank: Advanced Member
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Location: Koh Pha-Ngan, Earth
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Toyogo, the MACDH Divergence formula from your post uses the MS Correlation() function, which looks into the future (using hindsight). This means that any current signals may not necessarily be there a few bars later.
The MACDH Divergence kit doesn't use any hindsight, so its divergence signals are 100% static over time.
G, I've got you down for invite Nr3 (after Patrick and Marilyn) to Koh Pha-Ngan's annual MetaStock/trading convention on the beach, probably sometime early 2007. Hammocks & wireless broadband will be included, so only bring your notebook & toothbrush. :)
jose '-) Edited by moderator Monday, November 23, 2015 11:11:16 PM(UTC)
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Rank: Advanced Member
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That's what I'm talking about... the full moon party!
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Rank: Member
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Hi,
I've been to Koh Samui, Phuket and Tioman, I heard of Koh Pha-Ngan - a great resort. I go to Tioman 2-3 times a year. Anyhow keep me inform of FMP, I will try to join if I'm available.
I've read Dr Elder's website, it seems he is really out there to make money from full-time coaching. I'll send a separate email to Jose for some chart data so that he can help me to test using the kit as he told me that he doesn't provide trial version.
Thanks Stockman for your comments.
Regards,
Toyogo
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