StockChartX Technical Indicator Help

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Simple Moving Average

Overview
The Simple Moving Average is simply an average of values over a specified period of time.

Interpretation
A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator.

Parameters
Source
Periods


Also see Wikipedia - Moving Averages


Exponential Moving Average

Overview
The Exponential Moving Average is a type of Moving Average that applies more weight to recent values by adding a small percentage of the current value to the previous value.

Interpretation
A Moving Average is most often used to average values for a smoother representation of the underlying price or indicator.

Parameters
Source
Periods


Also see Wikipedia - Moving Averages


Time Series Moving Average

Overview
Time Series Moving Averages are very different from other types of Moving Averages.

The calculation is derived from linear regression forecasts instead of actual data values.

For that reason, the Time Series Moving Average can be much greater than or less than the underlying data if the linear regression trend has been increasing or decreasing.

Interpretation
The Time Series Moving Average can be used like any other Moving Average, to obtain a smoother representation of the underlying data.

Parameters
Source
Periods

Also see Wikipedia - Moving Averages and Wikipedia - Linear Regression


Variable Moving Average

Overview
The Variable Moving Average is similar to an Exponential Moving Average with the added benefit of being able to adjust to market volatility. For this reason, the Variable Moving Average may be useful in sideways moving markets.

Interpretation
The Variable Moving Average can be used like any other Moving Average, to obtain a smoother representation of the underlying data.

Parameters
Source
Periods


Also see Wikipedia - Moving Averages


Triangular Moving Average

Overview
The Triangular Moving Average is similar to the Simple Moving Average in that it averages the underlying data over a specified number of previous values.

However, the Triangular Moving Average differs in that it is calculated and averaged n-times. The actual formula is TMA = (SMA1 + SMA2 + SMA3 + SMA4 + ... SMAn) / n.

Interpretation
The Triangular Moving Average can be used like any other Moving Average, to obtain a smoother representation of the underlying data. It is important to note that the Triangular Moving Average is typically much smoother than other moving averages.

Parameters
Source
Periods


Also see Wikipedia - Moving Averages


Weighted Moving Average

Overview
The Weighted Moving Average is a type of Moving Average that assigns more weight to the most recent data points. The formula is P0 + αP1 + α2P2 + α3P3 + ⋅⋅⋅ + αnPn + ⋅⋅⋅

Interpretation
The Weighted Moving Average can be used like any other Moving Average, to obtain a smoother representation of the underlying data. It is thought that the Weighted Moving Average provides a better representation of market volatility than the Simple and Exponential Moving Averages.

Parameters
Source
Periods


Also see Wikipedia - Moving Averages


VIDYA

Overview
The Volatility Index DYnamic Average (VIDYA) indicator is a type of Moving Average derived from the coefficient of determination.

Interpretation
VIDYA can be used like any other Moving Average, to obtain a smoother representation of the underlying data. Because VIDYA is a derivative of linear regression, it quickly adapts to volatility.

Parameters
Source
Periods
R2 Scale - R2 scale to use in the linear regression calculation.


Also see Wikipedia - Moving Averages


Welles Wilder Smoothing

Overview
Developed by J. Welles Wilder, Jr. this indicator is similar to the Exponential Moving Average. It is rather slow to reflect changes in the underlying data when compared with other Moving Averages. This indicator is also used as the basis of Wilder's Relative Strength Index.

Interpretation
Welles Wilder Smoothing can be used like a Moving Average, to obtain a smoother representation of the underlying data.

Parameters
Source
Periods


Also see Wikipedia - Moving Averages and Wikipedia - Average Directional Index


High Minus Low

Overview
The High Minus Low indicator is quite simply a running index of the high price minus the low price.

Interpretation
This indicator can be used to obtain a view of price volatility.

Parameters
Source


Median Price

Overview
The Median Price is simply the running median of the high and low price data.

Interpretation
The Median Price is often used as an alternative for viewing price action.

Parameters
None


Also see Wikipedia - Median


Typical Price

Overview
Typical Price (also known as Pivot Points) is a running average of the high, low and close values.

Interpretation
Typical Price is often used as an alternative for viewing price action.

Parameters
None


Also see Wikipedia - Typical Price


Weighted Close

Overview
Weighted Close (also known as Weighted Pivot Points) is a running average of the high, low and close values.

This indicator is similar to standard Pivot Points, except more weight is given to the most recent values in the underlying data.

Interpretation
Weighted Close is often used as an alternative for viewing price action.

Parameters
None


Also see Wikipedia - Pivot Points


Volume Rate of Change

Overview
Volume Rate of Change is calculated by dividing the security's volume over the last n-periods by the total volume within the last n-periods window.

If the volume from the current day is lower than n-periods ago, volume ROC trends lower. The actual formula is ((Volume - Volume n-periods ago ) / Volume n-periods ago) * 100

Interpretation
The Volume Rate of Change shows whether or not volume is trending up or down. This indicator is often used to confirm price breakouts.

Parameters
Periods


Also see Wikipedia - Momentum Analysis


Price Rate of Change

Overview
Price Rate of Change is calculated by dividing the security's price over the last n-periods by the total price within the last n-periods window.

If the price from the current day is lower than n-periods ago, Price ROC trends lower. The actual formula is ((Close - Close n-periods ago ) / Close n-periods ago) * 100

Interpretation
The Price Rate of Change shows whether or not the security is trending up or down.

Parameters
Periods


Also see Wikipedia - Momentum Analysis


Standard Deviation

Overview
Standard deviation is a measure of variability used in statistics and probability theory. Standard Deviation is used in finance to show how much volatility exists in the underlying data.

Low values indicate that the security's price is very close to the mean, whereas high values indicate that the price is more volatile than normal.

Interpretation
Major highs and lows often accompany extreme volatility. High values of standard deviations indicate that the price or indicator is more volatile than normal.

Parameters
Source
Periods
Standard Deviations
Moving Average Type


Also see Wikipedia - Standard Deviation


Highest High Value

Overview
The Highest High Value is simply a running calculation of the highest high over the previous n-periods.

Interpretation
Highest High is most commonly used together with Lowest Low to identify support and resistance levels.

Parameters
Periods


Lowest Low Value

Overview
The Lowest Low Value is simply a running calculation of the lowest low over the previous n-periods.

Interpretation
Lowest Low is most commonly used together with Highest High to identify support and resistance levels.

Parameters
Periods


Linear Regression R2

Overview
The coefficient of determination R2 measures the proportion of variability in the price data. R2 is simply the square of the sample correlation coefficient between the price and the predicted price.

Interpretation
R2 is most often used to guage market volatility. High values indicate that the market is more volatile than normal while lower values indicate that the market is in a steady trend.

Parameters
Source
Periods


Also see Wikipedia - Linear Regression and Wikipedia - R2


Linear Regression Forecast

Overview
In statistics, linear regression is an approach to modeling the relationship between a scalar variable y and one or more explanatory variables denoted X. Linear regression forecast shows how far prices deviate from their predicted targets.

Interpretation
Linear regression forecast can be used as a type of adaptive moving average.

Parameters
Source
Periods


Also see Wikipedia - Linear Regression


Linear Regression Slope

Overview
In statistics, linear regression is an approach to modeling the relationship between a scalar variable y and one or more explanatory variables denoted X. The slope is b, and a is the intercept (the value of y when x = 0)

Interpretation
Linear regression slope is often used as trend following indicator.

Parameters
Source
Periods


Also see Wikipedia - Linear Regression


Linear Regression Intercept

Overview
In statistics, linear regression is an approach to modeling the relationship between a scalar variable y and one or more explanatory variables denoted X. The y intercept is the y value of the linear regression line when X equals zero.

Interpretation
Linear regression intercept can be used as a type of adaptive moving average.

Parameters
Source
Periods


Also see Wikipedia - Linear Regression


Time Series Forecast

Overview
In statistics, linear regression is an approach to modeling the relationship between a scalar variable y and one or more explanatory variables denoted X. Linear regression forecast shows how far prices deviate from their predicted targets.

Interpretation
Time Series Forecast can be used as a type of adaptive moving average.

Parameters
Source
Periods


Also see Wikipedia - Linear Regression


Bollinger Bands

Overview
Bollinger Bands were invented by John Bollinger in the 1980s. Bollinger Bands measure a high and low trading range using a calculation based on standard deviation.

Interpretation
The interpretation of Bollinger Bands varies greatly among traders. The most common method is to buy when the price touches the lower band and to sell when the price touches the higher band.

Parameters
Source
Periods
Standard Deviations
Moving Average Type


Also see Wikipedia - Bollinger Bands


Moving Average Envelope

Overview
Moving Average Envelopes are based on moving averages calculated from the underling price, shifted up and down by a fixed percentage.

Interpretation
When prices rise above the upper band or fall below the lower band, a change in direction may occur when the price penetrates the band from the opposite direction.

Parameters
Source
Periods
Shift Percentage
Moving Average Type


Also see Wikipedia - Moving Average


High Low Bands

Overview
High Low Bands consist of moving averages calculated from the underling price, shifted up and down by a fixed percentage of the median price.

Interpretation
When prices rise above the upper band or fall below the lower band, a change in direction may occur when the price penetrates the band from the opposite direction.

Parameters
Periods


Also see Wikipedia - Moving Average


Fractal Chaos Bands

Overview
The chaotic nature of stock market movements explains why it is sometimes difficult to distinguish hourly charts from monthly charts if the time scale is not given.

The patterns are similar regardless of the time resolution. Like the chambers of the nautilus, each level is like the one before it, but the size is different.

Fractal Chaos Bands can be used to examine these patterns.

Interpretation
When prices rise above the upper band or fall below the lower band, a change in direction may occur when the price penetrates the band from the opposite direction.

Parameters
Periods


Also see Wikipedia - Fractals


Prime Number Bands

Overview
Prime Number Bands calculates the nearest prime number for the high and low prices.

Interpretation
When prices rise above the upper band or fall below the lower band, a change in direction may occur when the price penetrates the band from the opposite direction.

Parameters
None


Also see Wikipedia - Prime Number


Money Flow Index

Overview
Money Flow Index is an oscillator indicator that ranges from 0 to 100. The calculation is based on a percentage of up and down days over an n-period sliding window.

An "up" market day is where the close price of a security closes higher than the previous close and a "down" day is where the close price closes lower than the previous close.

Interpretation
When values are over 80, the market is considered overbought. Conversely, when values are under 20, the market is considered oversold.

Parameters
Periods


Also see Wikipedia - Money Flow Index


Trade Volume Index

Overview
Trade Volume Index shows whether a security is being accumulated or distributed over period of time.

Interpretation
When the indicator is rising, the security is said to be accumulating. Conversely, when the indicator is falling, the security is said to being distributing. Prices may reverse when the indicator converges with price.

Parameters
Source
Minimum Tick Value


Also see Wikipedia - Money Flow Index


Swing Index

Overview
The Swing Index calculates the strength of a security by comparing the open, high, low and close prices with previous values.

Interpretation
The Swing Index is a component of the Accumulation Swing Index, which provides an alternative view of price action.

Parameters
Limit Move Value


Also see Wikipedia - Swing Trading


Accumulative Swing Index

Overview
The Accumulative Swing Index is a cumulative total of the Swing Index, which calculates the strength of a security by comparing the open, high, low and close prices with previous values.

Interpretation
The Accumulative Swing Index may be analyzed using technical indicators, line studies, and chart patterns as an alternative view of price action.

Parameters
Limit Move Value


Also see Wikipedia - Swing Trading


Relative Strength Index

Overview
The Relative Strength Index (RSI) is a technical indicator developed by J. Welles Wilder, which measures the velocity and magnitude of price movements within a security.

RSI is computed as the ratio of higher closes to lower closes within an n-period sliding window.

Interpretation
The indicator is most often used with a 14-period setting. Values greater than 70 may indicate that the market is overbought, while values less than 30 may indicate that the market is oversold.

Parameters
Source
Periods


Also see Wikipedia - Relative Strength Index


Comparative Relative Strength

Overview
The Comparative Relative Strength index is a computation between two input series. The values of one time series are divided by the other.

Interpretation
The first time series is said to be "out-performing" the second time series if the Comparative Relative Strength is trending upwards.

Parameters
Source 1
Source 2


Also see Wikipedia - Relative Strength Index


Price Volume Trend

Overview
Price Volume Trend (sometimes referred to as Volume Price Trend) is a technical indicator that compares price to volume. Price Volume Trend is closely related to the On Balance Volume index.

Interpretation
The Price Volume Trend generally precedes price movement. The theory is that well-informed investors are buying when the index rises and uninformed investors are buying when the index falls.

Parameters
Source


Also see Wikipedia - Price Volume Trend


Positive Volume Index

Overview
The Positive Volume Index measures the price trend for periods where volume increases from the previous volume.

Interpretation
Positive Volume Index is based on the theory that uninformed investors buy when volume increases while informed investors buy when volume decreases.

Parameters
Source


Negative Volume Index

Overview
The Negative Volume Index measures the price trend for periods where volume decreases from the previous volume.

Interpretation
Negative Volume Index is based on the theory that uninformed investors buy when volume increases while informed investors buy when volume decreases.

Parameters
Source


On Balance Volume

Overview
The On Balance Volume indicator is calculated based on a cumulative total of volume to show a relationship between price and volume.

Interpretation
On Balance Volume is generally higher when prices are moving with the dominant trend and for this reason, the technical indicator is most often used to confirm a trend.

Parameters
Source


Also see Wikipedia - On Balance Volume


Performance Index

Overview
The Performance Index calculates price performance as a normalized value or percentage over time.

Interpretation
If the index shows 50, then the price of the security has increased 50 percent since the start of the calculation. Conversely, if the indictor shows -50, then the price of the security has decreased 50 percent since the start of the calculation.

Parameters
Source


Mass Index

Overview
The Mass Index identifies price changes by indexing the narrowing and widening change between high and low prices.

Interpretation
According to the inventor of the Mass Index, reversals may occur when a 25-period Mass Index rises above 27 or falls below 26.5.

Parameters
Periods


Chaikin Money Flow

Overview
The Chaikin Money Flow oscillator is a momentum indicator that identifies areas of buying and selling in the market by observing price in relation to volume. This indicator is based upon Chaikin Accumulation/Distribution, which is based upon the premise that if a stock closes above its midpoint [(high+low)/2] for the day then there was accumulation. Conversely, if it closes below its midpoint, then there was distribution.

Interpretation
A value of 80 is generally considered overbought while a value of 20 oversold.

Parameters
Periods


Also see Wikipedia - Money Flow Index


Commodity Channel Index

Overview
The CCI was developed by Donald Lambert. The purpose of this indicator is to identify cyclical turns in commodities. The indicator is also frequently used with equities and currencies.

Interpretation
This indicator oscillates between an overbought and oversold zone of +100 and -100 respectively.

Parameters
Periods


Also see Wikipedia - Commodity Channel Index


Stochastic Momentum Index

Overview
The Stochastic Momentum Index, developed by William Blau, first appeared in the January 1993 issue of Stocks & Commodities magazine. This indicator plots the closeness relative to the midpoint of the recent high/low range.

Interpretation
The Stochastic Momentum Index has two components: %K and %D. %K is most often displayed as a solid line and %D is often shown as a dotted line.

The most widely used method for interpreting the Stochastic Momentum Index is to buy when either component rises above 40 or sell when either component falls below 40.

Another method is to buy when %K rises above %D and sell when %K falls below %D.

Parameters
%K Periods
%K Smoothing
%K Double Smoothing
%D Periods
Moving Average Type
%D Moving Average Type


Also see Wikipedia - Stochastic Indicator


Historical Volatility

Overview
Historical volatility is the log-normal standard deviation. Historical Volatility is based on the book by Don Fishback, "Odds: The Key to 90% Winners".

Historical volatility outputs an n-period index ranging between 1 and 0. The formula is Stdev(Log(Close / Close Yesterday), 30) * Sqrt(365)

Interpretation
Higher values indicate market volatility while lower values indicate calmness.

Parameters
Source
Periods
Standard Deviations
Bar History


Chande Momentum Oscillator

Overview
The Chande Momentum Oscillator (CMO) is an advanced momentum oscillator derived from linear regression.

Interpretation
Increasingly high values of CMO may indicate that prices are trending strongly upwards. Conversely, lower values may indicate that prices are trending strongly downwards. CMO is related to MACD and Price Rate of Change (ROC).

Parameters
Source
Periods


Momentum Oscillator

Overview
The Momentum Oscillator calculates the change in price as a ratio over a specified length of time.

Interpretation
Increasingly high values may indicate that prices are trending strongly upwards. Conversely, lower values may indicate that prices are trending strongly downwards.

Parameters
Source
Periods


TRIX

Overview
TRIX is a momentum oscillator that shows the rate of change of an exponentially averaged closing price.

Interpretation
The most common interpretation of the TRIX oscillator is to buy when the oscillator rises and sell when the oscillator falls.

Parameters
Source
Periods


Also see Wikipedia - TRIX


Vertical Horizontal Filter

Overview
The Vertical Horizontal Filter (VHF) identifies whether a market is in a trending or choppy movement phase.

Interpretation
VHF is most commonly used as an indicator of market volatility. It is also used as a component in other technical indicators.

Parameters
Source
Periods


Ultimate Oscillator

Overview
Ultimate Oscillator was developed by Larry Williams. The indicator is based buying and selling "pressure" represented by when a bar's closing price falls within the bar's true range.

Interpretation
The most popular interpretation of the Ultimate Oscillator is based on price and indicator divergence.

Parameters
Cycle 1
Cycle 2
Cycle 3


Also see Wikipedia - Ultimate Oscillator


Williams %R

Overview
Williams %R shows overbought and oversold levels by calculating the current closing price in relation to the high and low prices over the past n-periods.

Interpretation
The most widely used method for interpreting Williams %R is to buy when the indicator rises above 80 or sell when the indicator falls below 20.

Parameters
Periods


Also see Wikipedia - Williams %R


Williams Accumulation Distribution

Overview
Williams Accumulation Distribution shows a relationship of price and volume over time.

Interpretation
The security is said to be accumulating when the indicator is rising. Conversely, the security is said to be distributing when the indicator falls. Prices may reverse when the indicator converges with price.

Parameters
Periods


Also see Wikipedia - Accumulation Distribution


Volume Oscillator

Overview
The Volume Oscillator shows a spread of two different moving averages of volume over a specified period of time.

Interpretation
The Volume Oscillator offers a clear view of whether or not volume is increasing or decreasing.

Parameters
Short Term Periods
Long Term Periods
Points or Percent


Chaikin Volatility

Overview
The Chaikin Volatility Oscillator is a moving average derivative of the Accumulation/Distribution index.

Interpretation
The Chaikin Volatility Oscillator adjusts with respect to volatility, independent of long-term price action.

Parameters
Periods
Rate of Change
Moving Average Type


Stochastic Oscillator

Overview
The Stochastic Oscillator is a popular indicator that shows where a security's price has closed in proportion to its closing price range over a specified period of time.

Interpretation
The Stochastic Oscillator has two components: %K and %D. %K is most often displayed as a solid line and %D is often shown as a dotted line.

The most widely used method for interpreting the Stochastic Oscillator is to buy when either component rises above 80 or sell when either component falls below 20.

Another way to interpret the Stochastic Oscillator is to buy when %K rises above %D, and conversely, sell when %K falls below %D.

Parameters
%K Periods
%K Smoothing Periods
%D Periods
Moving Average Type


Also see Wikipedia - Stochastic Oscillator


Price Oscillator

Overview
The Price Oscillator displays a spread between two moving averages.

Interpretation
Buying usually occurs when the oscillator rises and selling usually occurs when the oscillator falls.

Parameters
Source
Cycle 1
Cycle 2


MACD

Overview
The MACD is a moving average oscillator that shows potential overbought/oversold phases of market fluctuation. The calculation is based on two different moving averages of the price data.

Interpretation
Buy and sell signals are generated whenever MACD crosses a signal line, the zero mark line or when the MACD line diverges from price.

Parameters
Signal Periods
Short Cycle
Long Cycle
Moving Average Type


Also see Wikipedia - MACD


MACD Histogram

Overview
The MACD is a moving average oscillator that shows potential overbought/oversold phases of market fluctuation. The calculation is based on two different moving averages of the price data.

Interpretation
Buy and sell signals are generated whenever MACD crosses a signal line, the zero mark line or when the MACD line diverges from price.

Parameters
Signal Periods
Short Cycle
Long Cycle
Moving Average Type


Also see Wikipedia - MACD


Ease Of Movement

Overview
The Ease of Movement oscillator shows a unique relationship between price change and volume.

Interpretation
The Ease of Movement oscillator rises when prices are trending upwards under low volume and falls when prices are trending downwards under low volume.

Parameters
Periods
Moving Average Type


Also see Wikipedia - Ease Of Movment


Detrended Price Oscillator

Overview
The Detrened Price Oscillator is used when it is desirable to remove long-term trends or outliers from price data.

Interpretation
This indicator is often used to supplement a standard price chart.

Parameters
Source
Periods
Moving Average Type


Also see Wikipedia - Detrended Price Oscillator


Parabolic SAR

Overview
The Parabolic SAR was developed by Welles Wilder. This indicator is always in the market (whenever a position is closed, an opposing position is taken).

Interpretation
The Parabolic SAR indicator is most often used to set trailing price stops. A stop and reversal (SAR) occurs when the price penetrates a Parabolic SAR level.

Parameters
Min AF
Max AF


Also see Wikipedia - ParabolicSAR


Directional Movement System

Overview
The Welles Wilder Directional Movement System is composed of ADX, DI+ and DI-. The indicators guage how much the market is trending, either up or down.

The higher the ADX line, the more the market is trending and the more suitable it becomes for a trend-following system.

DI+ represents a measure of uptrend strength and DI- represents a measure of downtrend strength.

Detailed information about this indicator can be found in Welles Wilder's book, "New Concepts in Technical Trading Systems".

Interpretation
A buy signal is given when DI+ crosses over DI-, a sell signal is given when DI- crosses over DI+.

Parameters
Periods


Also see Wikipedia - Directional Movement System


True Range

Overview
True Range is an indicator developed by Welles Wilder, which measures market volatility.

Interpretation
High True Range values may signal market bottoms while low True Range values may signal neutral markets.

Parameters
Periods


Also see Wikipedia - Average True Range


Average True Range

Overview
Average True Range is an indicator developed by Welles Wilder, which measures market volatility.

Interpretation
High Average True Range values may signal market bottoms while low Average True Range values may signal neutral markets.

Parameters
Periods


Also see Wikipedia - Average True Range


Aroon

Overview
The Aroon indicator is used to help identify if a stock is trending or not.

Interpretation
Trends are determined by extreme values (above 80) of both lines (Aroon up and Aroon down), whereas unstable prices are determined when both lines are low (less than 20).

Parameters
Periods


Aroon Oscillator

Overview
The Aroon indicator is used to help identify if a stock is trending or not.

Interpretation
Trends are determined by extreme values (above 80) of both lines (Aroon up and Aroon down), whereas unstable prices are determined when both lines are low (less than 20).

Parameters
Periods


Rainbow Oscillator

Overview
The Rainbow Oscillator is based upon moving average of multiple time frames.

Interpretation
The trend may reverse when values rise above 80 or fall below 20.

Parameters
Source
Levels
Moving Average Type


Fractal Chaos Oscillator

Overview
The chaotic nature of stock market movements explains why it is sometimes difficult to distinguish hourly charts from monthly charts if the time scale is not given.

The patterns are similar regardless of the time resolution. Like the chambers of the nautilus, each level is like the one before it, but the size is different.

The Fractal Chaos Oscillator can be used to examine these patterns.

Interpretation
Continuous zero values often indicate that the trend is about to reverse quickly and sharply.

Parameters
Periods


Prime Number Oscillator

Overview
This indicator finds the nearest prime number from either the top or bottom of the series, and plots the difference between that prime number and the price data.

Interpretation
This indicator can be used to spot market turning points. When the oscillator remains at the same high point for two consecutive periods in the positive range, consider selling. Conversely, when the oscillator remains at a low point for two consecutive periods in the negative range, consider buying.

Parameters
None


Also see Wikipedia - Prime Number


Elder Ray Bull Power and Bear Power

Overview
The Elder Ray indicator, developed in 1989 by Dr. Elder, measures bullish and bearish "power" by comparing the daily high and low to a moving average.

Interpretation
A buy signal occurs when Bear Power is negative but moving upward and Bull Power has recently increased. Conversely, a sell signal occurs when Bull Power is positive but moving downward and Bear Power has recently decreased.

Parameters
Periods
Moving Average Type


Elder Force Index

Overview
The Elder Force Index is calculated by the change in price from the previous to the current day, multiplied by volume.

Interpretation
Buy signals are generated when the two-day EMA of the Elder Force Index is negative and sell signals are generated when it is positive.

Parameters
None


Elder Thermometer

Overview
The Elder Thermometer indicator is described in Dr. Alexander Elder's book "Come into my trading room" on page 162.

This indicator measures the "temperature" of the market, indicated by greater or lesser intraday ranges.

Interpretation
"Cold" and "Hot" Elder Thermometer zones tend to precede major moves.

Parameters
None


Ehler's Fisher Transform

Overview
Ehler's Fisher Transform is an oscillator that is based on the principle that security prices do not have a Gaussian probability distribution function.

The Fisher Transform makes the probability distribution function nearly Gaussian, creating turning points that are sharply peaked for easier identification of trend changes.

Interpretation
A trigger line is typically plotted with Ehler's Fisher Transform. Buy and sell signals occur when the trigger line crosses over or under the indicator.

Parameters
Periods


Keltner Channel

Overview
Keltner Channel is a volatility based moving average envelope that shifts a moving average of the True Range indicator by a certain percentage upwards and downwards.

Interpretation
Prices may reverse sharply after exiting and re-entering either the top or bottom band.

Parameters
Periods
Shift Percentage
Moving Average Type


Market Facilitation Index

Overview
The Market Facilitation Index, developed by Dr. Bill Williams, shows prices changes as they relate to volume. The formula is (High - Low) / Volume.

Interpretation
When both the Market Facilitation Index and Volume increase at the same time, it can be said that market participants are becoming more interested.

Likewise, when both the Market Facilitation Index and Volume decrease, it can be said that market participants are losing interest.

Parameters
None


Also see Wikipedia - Market Facilitation Index


Schaff Trend Cycle

Overview
The Schaff Trend Cycle, by Doug Schaff, combines both Slow Stochastics and the Moving Average Convergence/Divergence (MACD).

Interpretation
Schaff Trend Cycle is interpreted similar to MACD. Buy and sell signals are generated whenever the indicator crosses a signal line, the zero mark line or when the indicator diverges from price.

Parameters
Periods
Short Cycle
Long Cycle
Moving Average Type


Also see Wikipedia - MACD


QStick

Overview
QStick was developed by Tushar Chande as a quantifier for candlestick charts. QStick shows the relationship of the open and close prices.

Interpretation
Positive values indicate that the majority of candlesticks have been white during the previous n-periods, while negative values indicate that the majority of candlesticks have been black.

Parameters
Periods
Moving Average Type


Also see Wikipedia - Candlestick Chart


Stoller Average Range Channels

Overview
Stoller Average Range Channels (STARC) is a volatility based channel system that shifts a moving average of the True Range indicator by a certain percentage upwards and downwards.

Interpretation
Prices may reverse sharply after exiting and re-entering either the top or bottom band.

Parameters
Periods
Shift Percentage
Moving Average Type


Center Of Gravity

Overview
The Center Of Gravity oscillator, by John Ehlers, shows a comparison of recent prices versus older prices within a sliding window.

The prices can be thought of as being placed on two ends of a beam that is supported in the center. The oscillator represents the balance point or center of gravity on the beam.

Interpretation
The Center of Gravity oscillator decreases when prices rise and increases when prices fall.

Parameters
Periods


Coppock Curve

Overview
The Coppock Curve, developed by Edwin Coppock and published in Barron's Magazine in 1962, is based on a 14-month and 11-month rate of change, smoothed by a 10-period weighted moving average.

Interpretation
The Coppock Curve generates buy signals when the value falls below zero and turns upwards from a low point.

Parameters
Source


Also see Wikipedia - Coppock Curve


Chande Forecast Oscillator

Overview
The Chande Forecast Oscillator calculates the deviation between the current bar's price and an n-bar linear regression forecast value.

Interpretation
The market is said to be trending when the Chande Forecast Oscillator remains either above or below the zero line for an extended time.

Parameters
Source
Periods


Gopalakrishnan Range Index

Overview
The Gopalakrishnan Range Index (GAPO) by Jayanthi Gopalakrishnan quantifies the variability of price data based on the log of the price range over an n-bar period.

Interpretation
GAPO helps to identify erratic and smooth markets.

Parameters
Periods


Also see Traders.com - Gopalakrishnan Range Index


Intraday Momentum Index

Overview
The Intraday Momentum Index by Tushar Chande is very similar to the RSI except it is based on the relationship between a single bar's open and close prices instead of referencing the previous bar's prices.

Interpretation
Values over 70 indicate an overbought condition while values below 30 indicator an oversold condition.

Parameters
None


Also see Wikipedia - Relative Strength Index


Klinger Volume Oscillator

Overview
The Klinger Volume Oscillator by Stephen J. Klinger is based on cumulative volume. The security's volume is added or subtracted based on the direction of the Typical Price.

Interpretation
It is considered bullish when KVO rises above zero if prices are falling. Likewise, it is considered bearish when KVO falls below zero if prices are rising.

Parameters
Signal Periods
Long Cycle
Short Cycle
Moving Average Type


Pretty Good Oscillator

Overview
The Pretty Good Oscillator by Mark Johnson measures the distance of the current bar's close price from a moving average, divided by the True Range.

Interpretation
It is considered bullish when PGO rises above 3 and it is considered bearish when PGO falls below -3.

Parameters
Periods


RAVI

Overview
RAVI (Rapid Adaptive Variance Indicator) by Tushar Chande, measures trend intensity. The formula is based on VIDYA (Volatility Based Index Dynamic Average), also by Tushar Chande.

Interpretation
Increasing values of RAVI indicate that a trend is forming, whereas decreasing values of RAVI indicate that the current trend is ending.

Parameters
Source
Short Cycle
Long Cycle


Random Walk Index

Overview
Random Walk Index by E. Michael Poulos is shows the variability of price differs from what would be expected by a random walk.

Interpretation
High values suggest that the price is trending while low values indicate that the price is not trending.

Parameters
Periods


Also see Wikipedia - Random Walk


Twiggs Money Flow

Overview
Twiggs Money Flow by Colin Twiggs is based on the Chaikin Money Flow index. The indicator warns of breakouts and provides trend confirmations.

The indicator is based on the observation that bullish markets are normally signaled by increased volume along with bar closes above the median of each bar.

Likewise, bearish markets are normally signaled by increased volume along with bar closes below the median of each bar.

Interpretation
Twiggs Money Flow signals accumulation when above zero and distribution when below zero.

Parameters
Periods


Also see Author - Twiggs Money Flow

 

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