股票外汇技术分析英文版 (2).ppt

OSCILLATORS 3 different classes of signals OVERBOUGHT / OVERSOLD DIVERGENCE CHARTISM ON OSCILLATORS MAIN OSCILLATORS Oscillateurs without limits Oscillators with Limits Relative Strength Indicator STOCHASTICS HOW TO INTERPRET STOCHASTICS RELATIVE STRENGTH INDICATOR MA CD A LOW IN THE BRITISH EQUITY MARKET OCCURED AFTER THE RSI HAD ENTERED IN THE 30 ZONE. NOTICE HOW THE INDEX KEPT TRADING SIDEWAYS WITH THE RSI CONTINUING TO GO UP ! STOCHASTICS TAKES INTO ASSUMPTIONS THAT PRICES CLOSE NEAR THEIR HIGH DURING AN UPTREND AND CLOSE TO THEIR LOWS DURING AN DOWNTREND PRICES CLOSE NEAR THEIR HIGH DURING AN UPTREND… AS THE UPTREND MATURES, PRICES CLOSE LOWER THAN THEIR HIGH… THE GOAL OF STOCHASTICS IS TO DETERMINE THE LEVEL AT WHICH CLOSING PRICES START FURTHERING OUT FROM THE HIGHS IN A STILL RISING MARKET Stochastic indicators are composed of a first oscillator called %K which is then filtered by a second oscillator called %D C - Lx %K = 100 x ------------ Hx - Lx C : Closing price Lx : Lowest price in the last X days Hx : Highest price in the last X days K..wick (gives major signal) D..awdling….(more sensitive of the 2) D is a moving average of K STOCHASTICS CARACETRISTICS Better than the RSI because it takes into consideration the highs and lows and not only the closing prices Stochastics offer 3 types of levels : : Overbought / Oversold Overbought/Oversold signal with %D and slow%D crossing Trend indicators with divergences 1. DIVERGENCES 2. CROSSOVERS K WILL OFTEN CROSSOVER D BEFORE D CHANGES DIRECTION (normal as K is Kwicker) THE INDICATOR IS STRONGER WHEN K CROSSES D AFTER D HAS CHANGED DIRECTION. 3. WHEN THE K-LINE REACHES NEAR 100 WITH OVERBOUGHT READINGS IN OTHER INDICATORS AN EXTREMELY HIGH K-LINE WARNS YOU OF FURTHER STRENGTH ONCE THE INITIAL OVERBOUGHT LEVELS HAVE NEUTRALIZED. THAT S IT FOR TODAY !!!!! ONE NOTE OF CAUTION : IT IS PO