Does trendline work?
- Thread starter GloriaBrown
- Start date
No idea how your 2-5 graphs help you to trade
https://elitetrader.com/et/threads/any-name-for-this.355118/page-2#post-5319285
Plenty that "don't work"? right here baby, lol.
https://elitetrader.com/et/threads/charts-for-no-reason.344272/
Last edited:
Can not prove that trendlines work or does not work because everybody will use it differently.
One of the common differences in use is when I see on posted charts...a trendline being drawn across different designation points from trader to trader or even used differently by the same trader from one trading day to the next trading day.
Simply, you can not backtest the trendline use. You can not do any quantitative statistical analysis on trendline use. The only thing you can do is analyze the trade performance results of the trader using trendlines.
I remember awhile back someone posted a simple chart and then asked people where they would place their trendlines to help trade tomorrow's trading session...there were +10 replies by different traders and each had placed different trendlines (different locations) for the same chart.
That's my point
wrbtrader
One of the common differences in use is when I see on posted charts...a trendline being drawn across different designation points from trader to trader or even used differently by the same trader from one trading day to the next trading day.
Simply, you can not backtest the trendline use. You can not do any quantitative statistical analysis on trendline use. The only thing you can do is analyze the trade performance results of the trader using trendlines.
I remember awhile back someone posted a simple chart and then asked people where they would place their trendlines to help trade tomorrow's trading session...there were +10 replies by different traders and each had placed different trendlines (different locations) for the same chart.
That's my point
wrbtrader