Richard D. Wyckoff did not speak of the double divergence, It is spoke of by Robert Evans and is part of the Wyckoff Stock Market Institute Audio Lecutres.
The Technometer and Force indicators (commonly referred to as the Trend Barometer) were created by Toby Weary who worked for Wyckoff's understudy and successor Robert Stanslaw. Here is a PDF document going into detail about the OP, Force & Technometer....
http://www.wyckoffsmi.com/wp-content/uploads/2016/11/Directionnal-Indicators.pdf
They are proprietary indicators but they have been used by our students for the past 78 years. While Wyckoff SMI has never revealed the exact construction of the OP, Force, and Technometer I can tell you they are constructed off of Volume and Price and based on 5 minute data. Here is a little bit of our history pertaining to Richard Wyckoff and how the OP/Force And Technometer came into being.
Wyckoff wrote the original one volume text on Stock Market Science and Technique in 1931. The original Tape Reading course was written in 1932.
Mr. Wyckoff died in 1934. Ownership of the firm was transferred to Robert Stanlaws. Stanlaws was an engineer by training, but his first love was the stock market. He had worked with Wyckoff for many years and was an outstanding stock market analyst.
He was president of the company from 1934 to 1951. This was a particularly difficult time as, during the 1930's and 1940's, the stock exchange almost went out of business. During the depression and World War II, very few shares were traded and the New Your Stock exchange became a very quiet place. There were even antidotes about passing a football around the floor of the exchange, as there was nothing else to do.
Stanlaws held the organization together and made several extremely important contributions. In 1937 he expanded Wyckoff's single one volume course and it became a two-volume course. He was also responsible for vertical line chart studies and its coordination with the point and figure chart. It was also during his time that the Trend Barometer came into being. The Trend Barometer, now known as the Wyckoff Tools, was invented by Toby Weary in 1938
Initially there were two indexes. The speculative index, which was later renamed the Momentum index and Investment index which was later renamed the Force Index. The Technometer was added in 1941.
In 1951 Stanlaws died of a heart attack. Mrs. Stanlaws sold the company to Robert Evans, who at the time was the Midwest representative of Wyckoff Associates, Inc.
Mr. Evans led the firm from 1951 to 1967. Evans had purchased his initial course from Mr. Wyckoff in 1933. He had enjoyed an excellent relationship with both Wyckoff and Stanlaws.
In 1951, Mr. Evans moved the company from New York City to the LaSalle financial district in Chicago. Seven years later, Stock Market Institute moved again to Park Ridge, Illinois.
Bob Evans created the Evans Echoes lecture program. He also developed the Optimism – Pessimism Index and several teaching analogies including the Spring, the Jump across the Creek, the Fall Through the Ice and several other delightful analogies that have been extremely helpful to Wyckoff students over the years. He also developed the count guide which became an integral part of the investment decision-making process, as it forecast the distance a stock would rally or react after the move began.
Richard Wyckoff opened his investment teaching business in 1931. The firm's initial name was Richard D Wyckoff, Inc. It then became Wyckoff Associates, Inc. Later on the name was changed to Wyckoff Stock Market Institute. In the 1950's the name was shortened to Stock Market Institute. Fifty five years later, in 2009, the business was brought online as WyckoffStockMarketInstitute.com and now is known as Wyckoff SMI and can be found on WyckoffSMI.com
