I will give your analysis some thought. I like what you are doing.
But I don't call people fools. I don't have time for name calling.
Up until that last statement, you were alright with me.
Maybe I need to move on.
The part of the trend line that is not extended into the future "lags" price.
A good use of lag is the part of trend line that is not extended into the future.
The "lagging" part of the trend line is the most important. Without that, you would have no basis to "extend" the trendline into...
The real reason why most people are against indicators is because they can't make money with them. Those folks should stick with pure Price Action methods.
Again, lag is not always a bad thing. Should I get rid of Trendlines because they "lag" price?
Just talked to Yoohoo. He stated that the volume needs to be added the candles. Im sure Sierra charts can have that done.
Btw, how can I make my candles pretty like that? :)
A satisfactory conclusion is not supposed to get reached :) That's the beauty of the market. Everyone has their own concept :)
I don't trade trend or direction. But I do respect those that do trade trend successfully.
Goingilte
I agree. I know many very fine price action traders. All they trade is price. Then I know some very fine traders that use indicator.
Trading is a personal thing. What really counts is finding what works for you.
Im a big fan of your thread. Again that's for sharing :)
Goinglilte
One advantage of indicators over price is that a lot of indicators measure
"momentum".
MOMENTUM always comes before PRICE.
A trendline break on a CCI, MACD Histogram, or even the RSI may often be earlier than just a trendline break on price.
Lag is a relative sort of thing. Some lag...
I might as well post a chart also :)
It's been a while :)
All the good stuff has been removed.
Indicators are not canned, so don't ask.
Setup is when OSC's go to ob/os together.
Entry is Touch of bands. Sometimes I will do open of candle as entry. But never a bar takeout or...
Very nice indeed :) Clear to me, at least :)
Nice color zones, I assume that the zones are a part of your private methodology. That's ok. It's a good example on how Oscillators can be used in a well worked out methodology.
The use of "Range Bars" in this methodology is also excellent :)...
Comparing his charts, it seems that there's 3 colors: blue,red, yellow.
Red = Bearish, Blue = Bullish, Yellow = Significant Momentum Change.
His Stoch's look good in this context.
Goinglite