Many investors believe that if the EMV values move up (each EMV value higher than the previous EMV value) for 4 consecutive bars in a row, a buying opportunity is created. Similarly, if the EMV values move down for 4 consecutive bars in a row, a selling opportunity is created. Investigator lets you test this theory, as well as allowing you to see if an EMV value is above or below a certain value. Investigator also allows you to combine EMV testing conditions with bar patterns and other indicator testing conditions.
First, select the time period and enter the number of bars and the number of bars ago value that you want to use for testing.
You now have two choices which you can choose to use individually or combined.
Number of Consecutive Ups / Downs
This will test to see if consecutive EMV values are higher or lower than previous EMV values. For example, if the entered value is 4 (the default value) and the Num Consecutive Ups checkbox is checked, this condition would be true if the past 4 EMV values were 2.3493, 3.6396, 7.5493, and 11.8530. It would not be true if the values were 2.3493, 7.5493, 3.6396, and 11.8530.
The other option you can choose is Above or Below. The program default is 10. You can also select the Just Crossed? parameter.