Industrial Deals Best Books of the Month Amazon Fashion Learn more nav_sap_plcc_ascpsc $5 Albums Fire TV Stick Health, Household and Grocery Back to School Handmade school supplies Shop-by-Room Amazon Cash Back Offer CafeSociety CafeSociety CafeSociety  Amazon Echo  Echo Dot  Amazon Tap  Echo Dot  Amazon Tap  Amazon Echo Introducing new colors All-New Kindle Oasis AutoRip in CDs & Vinyl Water Sports
Customer Review

151 of 165 people found the following review helpful
2.0 out of 5 stars Formulas are in Metastock, March 12, 2003
Verified Purchase(What's this?)
This review is from: The Encyclopedia Of Technical Market Indicators, Second Edition (Hardcover)
Add 2 stars if you don't care that the formulas are in Metastock shorthand, NOT in straightforward mathematical terms. I'm a programmer, looking for a book with the straight formulas for technical indicators. Here's what it says on the book, as quoted by amazon: "Simple, intuitive, easy-to-understand, and precisely defined formulas". Sounds great, so I buy it. NOWHERE does it mention that these formulas are in Metastock shorthand, which is NOT decipherable without Metastock, so I returned it. The book is very good at explaining the use of these indicators, but I'm very disappointed in the misleading marketing of the publishers and amazon.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
  [Cancel]

Comments

Track comments by e-mail
Tracked by 2 customers

Sort: Oldest first | Newest first
Showing 1-8 of 8 posts in this discussion
Initial post: Oct 9, 2007 3:21:32 PM PDT
Pen Name says:
You're a programmer? If I give you a requirement specification and an example in a high-level language, could you turn around and implement it in another?

In reply to an earlier post on Apr 9, 2011 8:10:00 PM PDT
Last edited by the author on Apr 9, 2011 8:33:43 PM PDT
X42 says:
A misleading question.

In this particular case, what if Metastock (the high level language example) uses a proprietry indicator with proprietry variable settings ? So what then ? Your stuck, thats what. Let me hit you with a direct example, the Leibovit volume indicator. How are you supposed to code this up ? (The Leibovit indicator is exclusive to Metastock AND proprietry code).

I totally agree with the negative review.

It only helps the author's bank account not to mention Metastock langauge only is used.

Why not Amibroker, Tradestation, Ninja Trader, Trading Blox, Wealth-Lab, Matlab, Java.

More importantly, why not psuedo code to make it truly universal ? Metastock only ? Fine if your a "one-line" system coder...

In reply to an earlier post on Jul 5, 2011 12:14:46 PM PDT
Cypherdude says:
It probably would have been better to include both Metastock AND TradeStation EasyLanguage. Metastock is missing certain features which TradeStation has. At the time The Encyclopedia Of Technical Market Indicators, Second Edition was written, 2000-2002, it wasn't clear which charting package was going to emerge the better one, Metastock or TradeStation. TradeStation is now the better package. Back in 2000-2, TradeStation was also expensive, at $2200. Perhaps the author did not want to pay this much to use the package. The author does include advertising links to a "Free Metastock trial" on his website: www.robertwcolby.com

The author should really rewrite his book to include EasyLanguage and better explanations of each of the indicators. He should also include better statistical analysis of each indicator.

In reply to an earlier post on Sep 9, 2011 1:23:56 PM PDT
Last edited by the author on Aug 17, 2012 8:39:26 AM PDT
A.B. says:
A misleading answer.

The original comment, in my view, meant that if you have the time to whine about which language or presentation code to use, you would be much better off trying to use the time to expanding your own skill sets.

What a bunch of crybabies; 135 in total? LOL.

Making it 140 now. LOL.

Updated on Aug. 17, 2012.
How wrong I had been! Make it 141 now. LOL.

In reply to an earlier post on Nov 6, 2012 2:25:46 AM PST
[Deleted by Amazon on Nov 13, 2012 8:17:17 AM PST]

In reply to an earlier post on Nov 6, 2012 2:26:14 AM PST
[Deleted by Amazon on Nov 13, 2012 8:17:17 AM PST]

Posted on May 28, 2013 9:05:22 AM PDT
Over 90% of the technical indicators mentioned in the book are available for free in the TD Ameritrade ThinkorSwim Platform. Simply open a brokerage account for free to download it so beginners can practice with paper money. No deposit needed and backtesting available for novices to test strategies out.

Posted on Feb 24, 2015 3:01:48 PM PST
Cypherdude says:
This review was written in 2003. Perhaps Amazon's product description page has changed since. Amazon's product description page now clearly states:
"To further your own independent research, Robert W. Colby has arranged for your benefit a discount on the same MetaStock® technical analysis software he used for this book. Call 1-800-882-3040 and mention "Offer Code COLBY" to purchase MetaStock® at a special discount price."

So Amazon does now state the author used MetaStock for his system testing.

This book was written in 2000. Yet, he already mentions Walk Forward testing from pages 10 to 26. This book is now 14-16 years old. It's a pity the author hasn't come out with a third edition which also has TradeStation code.
‹ Previous 1 Next ›

Review Details