MESA References

A first reference:

MESA Studies on Aspen Graphics, addendum to the Aspen Graphics Users Guide, Version 2.217.

This supplement not only offers a good explanation of what each study is and how to control it, but also a useful six-page illustrated guide written by John Ehlers, the pioneer and main promoter of market applications of MESA, that provides an excellent overview of what MESA is and how to trade with it. Virtually identical selections are also available in the Aspen Graphics manual version 2.2.227, pages 8-79 through 8-88, and pages 8-30 through 8-34.

A useful introductory supplement:

Cycle Analysis and Intraday Trading, by John F. Ehlers, reprint from the magazine Technical Analysis of Stocks & Commodities, published by Technical Analysis, Inc., Seattle, 1993.

This readable article, again from John Ehlers, introduces MESA in a slightly different way, with some useful discussion of Equitick charting, and comes complete with 10 illustrations. Also check out the goofy Aspen ad on the back page.

Depth for the enthusiast:

MESA and Trading Market Cycles, by John F. Ehlers (Wiley Traders Advantage Series, series editor Perry J. Kaufman, John Wiley & Sons, Inc., New York, 1992, 140 pages).

John Ehlers wrote this book as the authoritative source on MESA. The first part of the book lays out some of the background to the development of MESA techniques, their rationale, and various applications, and goes into more mathematical detail than will be interesting to most users. The last four chapters focus on actually using MESA studies and expand on the briefer explanations offered in the Aspen Graphics Users Guide addendum and the magazine article.

For the hard-core MESA maven:

The Ehlers article described above finishes with a short bibliography for further reading. Look for a 1992 article by Ehlers,

1991 Cycles in Technical Analysis of Stocks and Commodities

1984, four articles by Anthony Warren on maximum entropy techniques, which are ancestors of MESA, in the same magazine.

1983 book Volume Cycles in the Stock Market: Market Timing through Equivolume Charting, by Richard W. Arms, now available through Arms Equivolume Corp. in Albequerque, New Mexico, U.S.A., which lays out the rationale for Equitick and equivolume charting.