arby347
87 posts
msg #64604
- Ignore arby347 |
7/1/2008 11:14:58 PM
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arby347
87 posts
msg #64605
- Ignore arby347 |
7/1/2008 11:16:45 PM
Oh, the little things in life are so important! Thanks FT for noticing.
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WALLSTREETGENIUS
983 posts
msg #64608
- Ignore WALLSTREETGENIUS
modified |
7/2/2008 12:15:50 AM
I'm pretty new at deciphering indicators as short term as the FI(2), so when reference is made to FI making a "new high" or "new low," what is the relative time frame those highs and lows are referencing? one week? one month?
_______________________
Thug -
The extreme highs and lows usally take place within 5-7 days. But remember, you dont want to see a new weekly high and low...you are looking for 1-3 month highs and lows.
HTH
RIGGS
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FuriousThug
256 posts
msg #64624
- Ignore FuriousThug |
7/2/2008 2:16:42 PM
How about this, Arby, for going the other direction?
FT
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FuriousThug
256 posts
msg #64625
- Ignore FuriousThug |
7/2/2008 2:22:02 PM
Hrm...actually the trend looks funny...what am I doing wrong to reverse this filter?
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arby347
87 posts
msg #64694
- Ignore arby347 |
7/3/2008 11:46:22 PM
FT, I think your reverse filter is OK. If you run it in other time frames like 3 mos ago and 1 month ago, you should see some or severe downside coming after the screens.
Maybe these screens should have new lines added for the MACD measures being below 0 for the up filter and above 0 for the reverse. Elder mentions that the best results come when the MACD comes up from the bottom and vice versa.
Obviously, our chances for these filters being useful increases if we are on the right side of the market. I still thing keying in on the MACD of the SPY could be used to helpp dtermine which of the two filters to use..
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FuriousThug
256 posts
msg #64717
- Ignore FuriousThug |
7/4/2008 1:27:42 PM
Arby:
I'm curious to know why you chose the ADX as your lvl 2 indicator (aside from the nice cosmetic squiggle you noted). It's not one of the primarily used indicators with this method (i.e., WR%, FI, Elder Ray, stoch). Personally, I like the ADX but sometimes can get a bit unwieldy...for me anyway. Too many squiggles and I start to lose control of my bodily functions...
Also, perhaps someone has insight on one recommendation I read for using the WR% on an at least 4-5 day setting (vs. 2-day which I've been playing with). I understand the results will be smoother, but is this going to give a signal too late in many cases?
FT
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arby347
87 posts
msg #64729
- Ignore arby347 |
7/4/2008 10:48:46 PM
I chose it because it seems to work for a precise turn around day on many occasions in my "manual" back testing. I am combining it with the bull/bear power. Maybe other indicators like you suggest would work better on the Level 2 of the Triple Screen. I just received Elder's Come into My Trading Room book and
think there are some things about this that were not in the TFAL book. I would like to use several indicators, but I do not want to lose too many stocks in the refinement.
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FuriousThug
256 posts
msg #64737
- Ignore FuriousThug
modified |
7/5/2008 12:24:42 PM
I'm getting a bit confused now. Ideally, in a first screen, you'd like to see (in the case of buying) the long term trend upwards. Where in your filter is the long-term trend being identified? I ask because going through my own manual backtesting turns up downtrending stocks which would have been ideal shorts...the opposite of what I wanted in a long triple screen.
Or maybe I am missing something entirely...are you using this as a trend reversal signal or as a pullback identifier expecting the long term trend to continue?
Trying to get a handle on this.
Thanks.
FT
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arby347
87 posts
msg #64751
- Ignore arby347 |
7/6/2008 3:56:53 PM
The weekly MACD histogram is for the Elder First Step of the Triple Screen. The EMA(9) is a little more intermediate, but we can also use an EMA(13)
I think a line should be added to the weekly MACD histogram like:
weekly MACD(12,26) historam < 0
to get the effect of this coming from a bottom and then reversing.
I have found that this filter going back in time when it coincides with the SPX being in a buy signal works weee for being long individual stocks. For example longs betweeen the 3rd week of March to May 20th worked well.
There is another thread that is discussing how to integrate the SPY and other indexes into a filter. I have not had much time to try their suggestions.
I have been on the road and my laptop has been acting up. I won't be able to devote much time until next week to this. FT (and others) I'll try to get online as much as I can.
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