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I mentioned the book by Jesse Livermore in the last post. It is available online and you can go to this site for the link. There is also some interesting content at the site and it is worth the time to look around and do some clicking.
http://blessedfool.blogspot.com/2010/01/livermore-market-key.html
I have not seen any code for the Livermore Market Key for MetaStock. I find it useful though to keep his ideas of market stages in mind when I look at the charts. I did find an interesting MetaStock indicator at the
Jose Silva site.
http://metastocktools.com/
It is the "stepped output" indicator and plots price or indicator values in user-defined quantized $ or % steps. Thank you Jose Silva. I changed the reference to be an average of the open, high, low, and close versus just the close. I use either a 5% or 10% parameter. Not Livermore but provides a nice visual of support and resistance levels. Slideshow at the bottom.
The other book is the Psychology Of The Stock Market by Selden and is available online.
http://www.archive.org/details/psychologyofstoc00seldrich
This one is interesting since it was written in 1912 and human nature has not changed much, if at all.
Couple of slides with the "stepped output" indicator. These examples are clean ones, on many of the charts this indicator just looks messy. But then so does the price on those charts so it is best just to move on and look for something clean.
Thank you for your time.
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