This longer time frame really shows how a trend and range can be easily defined by the moving average.
There are other clues in the longer ones, especially when they all agree.
I found them useful for selling a spike when I used to gamble on long calls and puts. But that upper band is the #1 reason I can't hold winnerz.
I hear stories about investors buying hot stocks and never selling, holding all thru the parabola and violent zigzag at the end. I don't know how...
You can't taper a ponzi, and the fed.gov interest expense is reaching the event horizon. No way out, aside from the elimination of all counterparties (force majeure)
Way back when I was studying pro trend followers, the ones who reoptimized periodically had much smoother equity curves than the old dinosaurs stuck on the idea the strat should run on any instrument with no arbitrary parameters (indicators, etc).
After 2009 the legacy guys couldn't seem to...
The flip side is you can't run an engine without fuel, not matter how good its compression is.
Do you really thing the brains behind the buy programs fueling these patterns are going to just let a bunch of retail traderz take their money?
The answer is one you provided years ago: double your money on the weekly bars first. Then you will see the chop coming on the daily and hourly bars when the momentum is coming out of the weekly. Even the lowly macd can do this. :)
I should clarify. Swing trading and putting on a position over several candles instead of one price plop mitigates the risk of a full stop hit with all the slippage. Target is the same (unlimited, since the strat is basically trend following stocks).
Imagine you're running a few billions and...
I learned this real quick when I had gold coins that had gone way up in value, but needed cash for rent. Ebay (or the coin store) minus commish, and you can do business again in the real world.
"Cash rulez everything around me" - some rapper
Level 6 - puts the bare minimum on the chart to show yes or no, should I get in or stay out.
Level 7 - does this with many time frames and shows it on a list with colors, so you only get in when everything lines up
(for swing and position trading stocks)