V. 19:6 (20-24): MetaTrends by R.G. Boomers
Product Description
MetaTrends by R.G. Boomers
Many of the tools of technical analysis are based on an interval of time. The question that always gets asked concerning such tools is, “What is the best interval?” So Just when you thought you’d seen everything in charting, along comes a new idea. what is it? All intervals! That’s right, use ’em all! At the same time! The technique is known as MetaTrends, and I’ll show you how they are formed.
THE TECHNIQUE
First, plot an ordinary graph of stock prices. For my purposes here, I use the Dow Jones Industrial Average (DJIA) from 1924, but you could use any time period.
Next, below the bottom of the graph directly under the first datapoint, place some color based on whether the shortest interval under consideration is going up or down. Use shades of green for degrees of uptrend and shades of red for degrees of downtrend — that is, the steeper the trend, the brighter the shading of color. If, for example, the one-bar interval is down, put a point of red there.
Many of the tools of technical analysis are based on an interval of time. The question that always gets asked concerning such tools is, “What is the best interval?” So Just when you thought you’d seen everything in charting, along comes a new idea. what is it? All intervals! That’s right, use ’em all! At the same time! The technique is known as MetaTrends, and I’ll show you how they are formed.
THE TECHNIQUE
First, plot an ordinary graph of stock prices. For my purposes here, I use the Dow Jones Industrial Average (DJIA) from 1924, but you could use any time period.
Next, below the bottom of the graph directly under the first datapoint, place some color based on whether the shortest interval under consideration is going up or down. Use shades of green for degrees of uptrend and shades of red for degrees of downtrend — that is, the steeper the trend, the brighter the shading of color. If, for example, the one-bar interval is down, put a point of red there.
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