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1、TECHNICALANALYSISID’INGWHENTOBUYANDSELLUSINGTHESTOCHASTICOSCILLATORByWayneA.ThorpStochasticsworkbestThereisnosuchthingasauniversalindicator.Rather,differentconditionsdictatetheuseofdifferentindicators.withthosesecuritiesOscillators,whichareindicatorsthatmovebetweenzeroand100,ar
2、ethatarecurrentlyusefulinidentifyingconditionswhereasecuritymaybeoverextended—tradingwithinaoverboughtoroversold.IntheMayissueoftheAAIIJournal,wetookaparticularrangeandlookatonepopularoscillator,Wilder’srelativestrengthindex.Thisarticlemayproveusefulinfocusesonanotherpopularind
3、icator,thestochasticoscillator.identifyingbuyingTHECALCULATIONandsellingpoints.ButtheycanreturnThewordstochasticisdefinedingeneralasaprocessinvolvingarandomfalsesignals,variable.ThestochasticoscillatorwasfirstintroducedbyGeorgeLaneintheespeciallyduring1970s.Thisindicatorconsist
4、softwolines—the%Kand%Dlines—andcomparesthemostrecentclosingpriceofasecuritytothepricerangeinperiodswhenstockswhichittradedoveraspecifiedtimeperiod.areinastrongThefollowingformulashowsyouhowtocalculatethelatestpointontheuptrendor%Kline:downtrend.%K=[(Close–Lo)÷(Hi–Lo)]×100Where:
5、Close=LastclosingpriceHi=HighestintradaypriceoverthedesignatedperiodLo=LowestintradaypriceoverthedesignatedperiodTherefore,ifyouwerecalculatingafive-day%Kline,thefirstpointwouldbecalculatedusingthehighestpriceoverthelastfivetradingdaysandthelowestpriceoverthelastfivetradingdays
6、aswellastheclosingpricefordayfive(thelastdayofthefive-dayperiod).The%Dlinetypicallyisathree-pointmovingaverageofthe%Kline,andservesasa“trigger”lineforgeneratingtradingsignals.Inotherwords,youaddtogetherthelastthree%Kvalues,dividethissumbythree,andcontinuethisoverarollingthree-d
7、ayperiod.Youcanuseanytypeofmovingaverageyouwishwhencalculatingthe%Dline,includingsimple,weighted,orexponentialmovingaverages.[Formoreonhowtousemovingaverages,see“AnIntrotoMovingAverages:PopularTechnicalIndicators,”byWayneA.ThorpintheAugust1999AAIIJournal.]Likevirtuallyalltechni
8、calindicators,youcancalculatestochasticsoveranytimeper
