Product Review: Jurik Tools by Dennis D. Peterson
Jurik Tools are a set of indicators that can be installed on 17 different platforms, including just about every platform that has received a Stocks & Commodities Readers’ Choice Award in recent years: TradeStation, MetaStock, NeuroShell Trader, NeoTicker, and AmiBroker, to name just a few. The complete list of platforms can be found on the Jurik Research website by selecting “Platforms.” And there are more than just indicators. In MetaStock, for example, there are also screening setups and chart templates — in short, just about all you might want. The indicators are arguably the best at smoothing data, although that’s not all they do well.
By way of background, the creator of this product, Mark Jurik, approached the design of these tools in an analytical fashion by requiring that his indicators be shift- and scale-invariant. If the terms “scale” and “shift” are unfamiliar to you, don’t be embarrassed. This is one of those rare occasions when a technician has been successful putting forward performance criteria that help us understand the behavior of indicators.
“Shift” invariance means that if you were to add a constant to every close of a price series, the indicator would behave the same as before. “Scale” invariance means that if you were to multiply a constant amount to every close — say, going from a range of $20–30 to a range of $200–300 — the results would be the same.