Cybernetic Analysis for Stocks and Futures: Cutting-Edge DSP Technology to Improve Your Trading (Wiley Trading)

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Product Description

Cutting-edge insight from the leader in trading technology
In Cybernetic Analysis for Stocks and Futures, noted technical analyst John Ehlers continues to enlighten readers on the art of predicting the market based on tested systems. With application of his engineering expertise, Ehlers explains the latest, most advanced techniques that help traders predict stock and futures markets with surgical precision. Unique new indicators and automatic trading systems are described in text as well as Easy Language and EFS code. The approaches are universal and robust enough to be applied to a full range of market conditions.
John F. Ehlers (Santa Barbara, CA) is President of MESA Software (www.mesasoftware.com) and has also written Rocket Science for Traders (0-471-40567-1) as well as numerous articles for Futures and Technical Analysis of Stocks & Commodities magazines.

Cybernetic Analysis for Stocks and Futures: Cutting-Edge DSP Technology to Improve Your Trading (Wiley Trading) Review

If I had the choice of picking just one book on TA, it would be this one!

The new technical indicators developed in this book are far superior to the traditional indicators like Exponential and Simple Moving Averages, RSI, Stochastics etc.

I don't have TradeStation, but the source-code for the indicators are well explained, so I translated TradeStation code to my Java based system in no time.

Basically the book deals with the marked using fairly advanced math for splitting the data in a trend-mode and cycle-mode. Traditional methods of smoothing the data using Simple/Exponential Moving averages are not bad, but they filter the data relatively poorly, so that there is a "leak" of higher frequencies into the result, giving the familiar whip-saws. To reduce the whip-saws, one is stuck with sometimes an unacceptable lag. For comparison, one of the technical indicators in the book, the Instantaneous Trendline, by applying more advanced mathematical filtering, cuts down on the whip-saws, but has virtually no lag!

This is just one example of the many new (revolutionary, I would say) ways of looking at marked data.

Of the oscillators I have implemented so far the Stochastic CyberCycle, but this togheter with the Instantaneous Trendline are themselves so good that I have dumped my usual EMAs, MACDs,

etc from my charts.

I'm really looking forward to the sequel of the book (if there will be one).

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