Entering The Price Zone
ARTICLE SYNOPSIS ...In our last article, we introduced a new oscillator that
provides better guidance to buying and selling levels
for securities: the volume zone oscillator (Vz o). This
time, we introduce a similar, complementary indicator: the price zone oscillator (Pz o). See sidebar, "Price Zone
Oscillator," on page 29.
The formula for Pz o depends on only one condition: If
today's closing price is higher than yesterday's closing price,
then the closing price will have a positive value (bullish);
otherwise it will have a negative value (bearish)....