Technical Analysis Indicatorrs for FOREX(2).pdf

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Forex Education - FXstreet.com.
Forex Education - FXstreet.com.
Tuesday, February 3, 2004
Website sponsored by:
Q&A SESSIONS
Analysing the majors By Gabriel Leiria
http://www.fxstreet.com/education/fxstrategy.asp (1 of 2) [4/02/2004 11:25:41 AM]
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Forex Education - FXstreet.com.
By Doug Schaff
FX-Strategy.com
Tel: 845-758-2935
71 Starbarrack Road
Red Hook, NY 12571
United States
My FX Login
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Forex Education - FXstreet.com.
Tuesday, February 3, 2004
Website sponsored by:
FXS-ADAPTIVE MOVING AVERAGE (FAMA)
By FX-Strategy.com
Name: FXS-Adaptive Moving Average
Characteristic: Trend Direction
Length 5 controls the measurement period for the average
Factor
2 controls the placement of the bands around the
average
Plots:
FAMA
Adaptive Moving Average
HiBand A band plotted above the FAMA
LoBand A band plotted below the FAMA
FAMA is a moving average that does not utilize a fixed number of bars in its
calculation. A 10 period simple moving average takes the sum of price over the
past 10 periods divided by 10. However, the nature of price varies as price either
trends or consolidates and this constant fluctuation of price development affects
the performance of the average.
FAMA is built to distinguish the differences between each type of price
development. By measuring price volatility, it automatically utilizes a different
lookback period to calculate the average. This normally translates into a faster
average during trending markets and into a slower average during consolidating
markets.
A pair of bands is added to FAMA to provide a channel that can be useful in
identifying trends and broad support and resistance during consolidation. The
bands are also adaptive by measuring the average variance of price from FAMA in
order to attempt to provide approximate support and resistance as implied from
recent price movement.
Usage
Q&A SESSIONS
Analysing the
majors By Gabriel
Leiria
http://www.fxstreet.com/education/a1.asp (1 of 3) [4/02/2004 11:26:07 AM]
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Forex Education - FXstreet.com.
To identify trends:
In the British Pound uptrend, above, not how price
broadly remained above FAMA and in this case, within
the HiBand also. It is also quite possible for price to
penetrate the Bands in the direction of the trend, which
merely demonstrates the strength of the move.
This latter effect is seen in the first decline from the
uptrend high as price penetrated the LoBand on several
occasions.
To identify resistance:
Once price has established a direction the bands often
provide a stalling point for corrections to the underlying
move. In the example above, after the initial decline
after the uptrend, price moved higher and rebounded
from the HiBand. The same was true in the bottom
right of the chart.
To identify consolidation: Consolidation often occurs in sideways, quite choppy
price action, without direction. The Bands around FAMA
provide an effective sideways channel in these
circumstances that can be used to sell at the high and
buy at the low. It must be stressed however, that other
forms of analysis must be used to support such trades
and the Bands should not be the only contributor to the
entry condition.
http://www.fxstreet.com/education/a1.asp (2 of 3) [4/02/2004 11:26:07 AM]
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Forex Education - FXstreet.com.
Note how in the long sideways move in the EURUSD in late summer to early fall in
2002, that price was contained by the HiBand and LoBand. Following the break
higher, price remained in the upward channel defined by FAMA and HiBand.
By Doug Schaff
FX-Strategy.com
Tel: 845-758-2935
71 Starbarrack Road
Red Hook, NY 12571
United States
My FX Login
Home
Add bookmark
Print
Send to a friend
http://www.fxstreet.com/education/a1.asp (3 of 3) [4/02/2004 11:26:07 AM]
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