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Technical Analysis: Power Tools for Active Investors by Gerald Appel

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The Weekly Impulse Signal

We have been exploring a number of tools based on momentum readings and other market breadth-related data, some of which can be fairly subjective in their interpretation while others are quite objective in their signals. Subjective indicators, usually based on chart pattern recognition and interpretation, have their place in the lexicon of useful market tools, but they also present problems because of their subjectivity and are best employed in conjunction with confirming indicators and cyclical measurements.

In contrast to subjective indicators, objective, mathematically based indicators such as the Weekly Impulse Signal are statistically based, signals objective. Whereas not all signals generated by such indicators ...

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