ETI IndicatorThe Ensemble Technical Indicator (ETI) seeks to combine numerous technical indicators into a single figure that reflects whether a stock is bullish or bearish. Specifically the ETI consists of the following indicators:
SMA 10
WMA 10
RSI
Stochastic Oscillator K%
Stochastic Oscillator D%
MACD
Williams R%
A/D Oscillator
Commodity Channel Index (CCI)
These indicators are converted to either -1 or +1, depending on whether the indicator's value suggests a bullish trend, or bearish trend. These values are then added up and summed across 20 timeframes to derive a single figure.
It is suggested that stocks -40 and below are oversold, while those that are +50 and above are overbought.
