(Intra Day) Delta Phenomenon

(intra day) Delta Phenomenon

Origin:omega-list
Written by:Patrick Mikula
Date found:3 oct 97

{DearOmegaList,
Belowisanindicatorwhichwillplotthecoloredlinesfortheintra
dayDeltaPhenomenon.IhaveprovideditintextandELAform.The
textbelowisactuallyintheELAfile,pleasereaditbeforeapplying
theindicatortointradaydata.
GoodLuck
PatrickMikula.}
{**************************************************************************
DeltaPhenomenonPatentPending?
BeingafinancialastrologerIhavealwaysfoundthemoontobea
valuabletriggerofmarketeventssoIwasnaturallyimpressedwith
WellsWilder'sbookTheDeltaPhenomenon.Theproblemmosttradershave
withthistradingmethodissimplythattheactualentryandexitpoints
areverysubjective.FormyownpersonaluseIprogrammedan
EasyLanguagesystemwhichmonitorstheintraday,dailyandweeklyDelta
Phenomenoncountsandcombinesthemwithsupportandresistancelevels,
thedirectionof2movingaveragesandsomecandlestickpatternsto
createafullymechanicalversionoftheDeltaPhenomenon.Ihad
plannedtoreleasethissystembuttheDeltaPhenomenonbookwrittenin
1991claimsthatithasapatentpending.IcalledtheDeltaSociety
Internationalseveraltimesoverthecourseofabout8monthsandthey
alwaysclaimedthatthepatenthadinfactbeengrantedbutrefusedto
providethepatentnumber.ThefactthattheDeltaSociety
InternationalclaimsthepatentwasgrantedmeansthatIwillnot
releaseanydeltasystemwhichplotsnumbersbecausethelock-innumber
countsarewhatmakestheDeltaPhenomenonthemethodthatitis.
Theindicatorbelowwillplotthefourcoloredlinesoftheintraday
DeltaPhenomenon.Thisisintendedtobeatimesavingaidfortraders
usingthismethoditisnottheactualmethod.Ifyouwantto
understandtheDeltaPhenomenonlock-innumbercountspleasebuythe
bookTheDeltaPhenomenonwrittenbyWellsWilder.
WARNING1:Ifthereare4ormoredaysmissinginarow,thisindicator
willnotplotthecorrectcolorline.
WARNING2:Thisindicatorplotsatrendlinefromabarslowtohigh
thenextendsthelineupwardanddownward.Ifthefirstbaroftheday
hasthesamelowandhighpricenoneofthetrendlineswillplot.
NOTE1:TheFstColorinputshouldbesettoanumberbetween1and4in
ordertoadjustthecolorsequencetogetitthewayyouwant.Asa
referencepointIbelieveSeptember18,1997isaredtrendline.
NOTE2:Ihaveprovidedashortlineoftextaboveeachsectionof
codetoexplainwhatthecodedoes.
NOTE3:Ifyouwouldlikeanindicatorsimilartothisonebutfordaily
orweeklychartsseemywebpagewereIhaveanastrologicaladdonfor
TradeStationandSuperChartswhichcanmaketherequiredlunar
calculations.
THEINDICATORCODESTARTSBELOWTHISLINE
*****************************************************************************}
{------BelowsetsuptheInputs,Variablesand
Values------}
input:FstColor(2);
Variables:Plotted(false),TLColor(0),Counter(0);
value1=DateToJulian(date)-DateToJulian(date[1]);
{------BelowtransferstheinputFstColortothevariable
TLColor------}
ifTLColor=0thenTLColor=FstColor;
{------BelowincrementstheTLColorbythenumberofdaysbetween
bars-----}
ifvalue10thenbegin
TLColor=TLColor+value1;
plotted=false;
end;
{------BelowreducestheTLColorwhenitmovesabove4------}
ifTLColor4thenTLColor=TLColor-4;
{------BelowplotsaRedVerticalLineonadaysfirstbar------}
ifTLColor=1andplotted=false{TLColor=1=Red}
thenbegin
Value20=TL_New(date,time,high,date,time,low);
Value21=TL_SetColor(Value20,Tool_Red);
Value22=TL_SetExtRight(Value20,true);
Value23=TL_SetExtLeft(Value20,true);
plot1(high,"delta");
Plotted=true;
end;
{------BelowplotsaBlueVericallineonadaysfirstbar------}
ifTLColor=2andplotted=false{TLColor=2=Blue}
henbegin
Value20=TL_New(date,time,high,date,time,low);
Value21=TL_SetColor(Value20,Tool_Blue);
Value22=TL_SetExtRight(Value20,true);
Value23=TL_SetExtLeft(Value20,true);
plot1(high,"delta");
Plotted=true;
end;
{------BelowplotsDarkYellowVerticalLineonadaysfirstbar------}
ifTLColor=3andplotted=false{TLColor=3=Yellow}
thenbegin
Value20=TL_New(date,time,high,date,time,low);
Value21=TL_SetColor(Value20,Tool_DarkYellow);
Value22=TL_SetExtRight(Value20,true);
Value23=TL_SetExtLeft(Value20,true);
plot1(high,"delta");
Plotted=true;
end;
{------BelowplotsaDarkGreenVerticalLineonadaysfirstbar------}
ifTLColor=4andplotted=false{TTLColor=4=Green}
thenbegin
Value20=TL_New(date,time,high,date,time,low);
Value21=TL_SetColor(Value20,Tool_DarkGreen);
Value22=TL_SetExtRight(Value20,true);
Value23=TL_SetExtLeft(Value20,true);
plot1(high,"delta");
Plotted=true;
end;
{ENDEASYLANGUAGECODE}

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