most consistent oscillator
- Thread starter dafong
- Start date
Love these threads on indicators... it's like reading about the evolution of man. The cynics, the sceptics, the disillusioned, the searching, the failed, the creative, the narrow minded, the clever and the successful for a myriad of reasons who proclaim their faith is the only true faith, and feel the need to trash any thinking that doesn't agree with their personal discoveries and convictions.
If we had weapons some would start a war just to prove the depth of the belief that I am right and you are wrong.
I have a good mastery of a few indicators and have proven them all to be totally reliable. I think probably all indicators are reliable at what they do best, if you understand what this is and thus when it is not talking.
In TA everything works. Lots of great tools in the hands of craftsmen or labourers. Take your pick, take the time and effort to master a few and enjoy the rewards.
Oh, and if you have the choice of making a friend or an enemy, in trading as in life, make a good choice
If we had weapons some would start a war just to prove the depth of the belief that I am right and you are wrong.
I have a good mastery of a few indicators and have proven them all to be totally reliable. I think probably all indicators are reliable at what they do best, if you understand what this is and thus when it is not talking.
In TA everything works. Lots of great tools in the hands of craftsmen or labourers. Take your pick, take the time and effort to master a few and enjoy the rewards.
Oh, and if you have the choice of making a friend or an enemy, in trading as in life, make a good choice
Quote from yoohoo:
Love these threads on indicators... it's like reading about the evolution of man. The cynics, the sceptics, the disillusioned, the searching, the failed, the creative, the narrow minded, the clever and the successful for a myriad of reasons who proclaim their faith is the only true faith, and feel the need to trash any thinking that doesn't agree with their personal discoveries and convictions.
If we had weapons some would start a war just to prove the depth of the belief that I am right and you are wrong.
I have a good mastery of a few indicators and have proven them all to be totally reliable. I think probably all indicators are reliable at what they do best, if you understand what this is and thus when it is not talking.
In TA everything works. Lots of great tools in the hands of craftsmen or labourers. Take your pick, take the time and effort to master a few and enjoy the rewards.
Oh, and if you have the choice of making a friend or an enemy, in trading as in life, make a good choice
Damn great post, yoohoo . . . well stated. I'm humbled.
CCI just shows you how far away price is from a simple moving average. I never saw how this was useful for trading.
What's that? I loaded it on my chart and got nothing. Then I loaded something called McClellan Summation Index and got like a super slow MA looking thing.
Where do I find this?
Bullish Percent Index (BPI)
The Bullish Percent Index (BPI) is a popular market breadth indicator that is calculated by dividing the number of stocks in a given group (an exchange, an industry, etc.) that are currently trading with Point and Figure buy signals, by the total number of stocks in that group. Bullish Percent levels that are above 70% are considered overbought, whereas levels below 30% are considered oversold. Strong buy signals occur when the Bullish Percent Index falls below 30% and then reverses up by at least 6%. Conversely, promising sell signals occur when it goes above 70%, and then reverses down by at least 6%.
It is important to note that the Bullish Percent Index is not something that can be applied to a single stock but rather an index that is calculated for a group of stocks.
The most popular version of this chart is the NYSE Bullish Percent () which is mentioned prominently in Thomas Dorsey's book, Point & Figure Charting, however it is important to remember that the Bullish Percent index can be calculated for any grouping of stocks.
Because the NYSE's Bullish Percent Index is so closely followed, each day we also publish the list of NYSE stocks with P&F buy signals as well as the list of all stocks in the current NYSE "universe". Those lists can be found on our NYSE BPI Components page.
Traditionally, the Bullish Percent indicator is charted on a Point and Figure chart (example) using a 2 point box size. However, the indicator can also be charted and studied using standard charts (example) as well.
Tom youâre familiar with what I have written about indicators, how they assist PA, what their attributes are and how to best use them, so do what I described and start by writing out what information all indicators provide, and then do lots of homework to see how CCI functions to reveal these characteristics.
Remember if you are not hot at reading PA then you canât see how an indicator can improve anything. Donât start with the indicator expecting it to tell you when to trade. Thatâs sloppy unless you are very experienced at designing amazing indicator solutions. You need to have a problem to solve, somewhere that PA was unclear or fooled you, chopped you out, moved too fast, bored you with tiny movements for ages etc. Whatever the problem is you want to find out how an indicator can help solve the puzzle.
CCI will work best in different ways for different traders. I know one trader who was very successful taking PA retests when CCI triggered his key level. He would go long on falling price with a very high success rate and counter trending was his best ploy.
Another uses moving averages with the zero line to catch pullbacks. Another uses extremes and divergences with PA to judge the energy in a potential move. Another uses CCI to scan multiple timeframes for key set ups.
What do I think of using SMAâs on their own or with CCI? If thatâs you thing and you can make it work go for it. I have my approach and youâll have yours. I have a specific approach beginning with a well-defined problem and a structured approach to finding a solution. Youâve seen how SMAâs can be used to project future S&R rather than be used as a lagging indicator. What will be your use, your discoveries? Itâs back to my mantra â everything works. And Iâve discussed trends, chop and lots more so Iâll leave you to dig a bit deeper because like solving any trading problem, digging is part of your personal solution.
Remember if you are not hot at reading PA then you canât see how an indicator can improve anything. Donât start with the indicator expecting it to tell you when to trade. Thatâs sloppy unless you are very experienced at designing amazing indicator solutions. You need to have a problem to solve, somewhere that PA was unclear or fooled you, chopped you out, moved too fast, bored you with tiny movements for ages etc. Whatever the problem is you want to find out how an indicator can help solve the puzzle.
CCI will work best in different ways for different traders. I know one trader who was very successful taking PA retests when CCI triggered his key level. He would go long on falling price with a very high success rate and counter trending was his best ploy.
Another uses moving averages with the zero line to catch pullbacks. Another uses extremes and divergences with PA to judge the energy in a potential move. Another uses CCI to scan multiple timeframes for key set ups.
What do I think of using SMAâs on their own or with CCI? If thatâs you thing and you can make it work go for it. I have my approach and youâll have yours. I have a specific approach beginning with a well-defined problem and a structured approach to finding a solution. Youâve seen how SMAâs can be used to project future S&R rather than be used as a lagging indicator. What will be your use, your discoveries? Itâs back to my mantra â everything works. And Iâve discussed trends, chop and lots more so Iâll leave you to dig a bit deeper because like solving any trading problem, digging is part of your personal solution.
Maybe paintbarfactory's Squeeze? I've talked to a few people who use it and would recommend it.
Note that it's totally different from the TTM Squeeze (the bollinger band and keltner channel one) that everyone is familiar with.
I think it's an oscillator as it oscillates about the 0 line.
Note that it's totally different from the TTM Squeeze (the bollinger band and keltner channel one) that everyone is familiar with.
I think it's an oscillator as it oscillates about the 0 line.