Quote from whitster:
"If an indicator by itself is less than 50% correct (which it is), then it is no more valid than a coin toss. But if an indicator in combination with other factors (price, fundamentals, etc) can be used as an aid to get you to 51%+ success, it is worthwhile."
here we go with the reification again...
sigh...
TRIN gives 100% of the time an indication of WHAT IT IS SUPPOSED TO GIVE - namely the above formula mentioned.
it's merely a RATIO. and the ratio is what it is. the problem is when people want to attribute MORE to the MEANING/PREDICTIVE qualities of the indicator. That is always problematic. with any indicator.
it is just as EXACT as price, or any derivative of price. TRIN can only have one value at any given moment in time. it is COMPLETELY objective.
but TRIN is not a "trading system". it is a formula that compares several things (advancers, advancing volume, etc.) in a specific way
to what extent that has UTILITY is another question entirely.
