THE ENCYCLOPEDIA OF TECHNICAL MARKET INDICATORS
Authors: Robert Colby and
Can a reviewer treat an encyclopedia or dictionary to the same scrutiny as a book? Thirty pages into The
Encyclopedia, I concluded the answer was no. Instead, I evaluated the book as it was meant to be
used—primarily to define terms and obtain information on specific topics.
The Encyclopedia is a must book for serious and would-be students of the market. It offers more than
definitions; it is a compendium of technical market indicators (110 by my count) and an I overview of
various methods for evaluating technical market indicators.
Referring at random to the entry for the Hurlan Index, one of the 100 technical indicators, I found a
definition, information about its origin and interpretation, the outcome of tests the authors performed on
the index using daily data from January 1962 to March 1967 and weekly data from January 1937 to
March 1987 and an assessment of the indicator. This information enables the reader to judge the
usefulness of the indicator for decision-making.