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Bill,
Anyone using the signal, or thinking of using it might benefit from
looking a bit further (that is all I am saying).
BTW it is not a system as it doesn't have exits etc.
What I am pointing out is:
1) The 'trade', as coded by Gerard, is a close cousin of the
InverseRTM so additional commentary can be found under that heading.
2) The exact signals, as produced by Gerards code, can be obtained by
other simpler means.
3) Alternative ways of getting that signal are more efficient.
IMO it is not optimized as written at present.
Simplifying the code and cutting it lose from the CCI positions it
correctly within the framework of its trading philosophy and that
then leads to ideas that help towards optimizing the trade.
Getting rid of the CCI also fits nicely with my views that price
action is a superior 'indicator' to many of the price derived
indicators (CCI is highly over-rated by some?).
Since my friend Bob is counting my 'kernels of wheat' I made sure I
put one in there for him (I dehusked if first though).
brian_z
P.S
Since it is philosphy that distinguishes Mankind from the animals:
"One mans chaff is another mans mattress".
--- In amibroker@xxxxxxxxxxxxxxx, "fimdot" <fimdot@xxx> wrote:
>
> Assumptions and academic exercises aside, all that matters is
whether
> the system/methodology produces satisfactory results for the user.
> That's the bottom line and the rest takes second place.
>
> Bill
>
> --- In amibroker@xxxxxxxxxxxxxxx, "brian_z111" <brian_z111@> wrote:
> >
> > >Look in Files Section - Listing Dow Waves by Gerard Carey
> excellent.
> >
> > No disrespect to Gerard Carey but I don't rate this as an
excellent
> > TA study. It is the start of an interesting discussion and I do
> thank
> > Gerard for sharing it.
> >
> > As I pointed out to Gerard at the time, the Dow Indicator entry
> > signals are very similar to an Inverse Reversion To Mean System,
> > which is bread and butter in the industry.
> > They always look great on a chart with a longer than average
trend
> in
> > place (which obviously occurs less than 50% of the time).
> >
> > From memory, if you look at Gerard's example chart of the Dow
> > Indicator plotted on the ^DJI it makes 12 - 13 successive touches
> of
> > a bullish MA.
> >
> > My propostion regarding waves, or cycles, is that if you measure
> > their frequency, and magnitude, you can expect to get a lot of
> > variance and something approaching a bell curve if they are
> > distributed (either frequency or magnitude).
> >
> > So 12 - 13 successive touches of a bullish MA that continue on to
a
> > higher high is not something that happens all that frequently.
> > To provide some balance look at the same indicator on some other
> > charts, or better still backtest it to obtain a larger dataset.
> >
> > If we could predict when a stock, or any other instrument, is
going
> > into a long term trend (cf a short term trend) we wouldn't need
any
> > other indicators at all.
> >
> >
> > brian_z
> >
> >
> >
> >
> >
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "areehoi" <areehoi@> wrote:
> > >
> > >
> > > Look in Files Section - Listing Dow Waves by Gerard Carey
> > excellent.
> > >
> > > Dick H.
> > >
> > > --- In amibroker@xxxxxxxxxxxxxxx, "greenhorn1983"
<greenhorn1983@>
> > > wrote:
> > > >
> > > > --- In amibroker@xxxxxxxxxxxxxxx, "MarkK" <MailYahoo@> wrote:
> > > > >
> > > > > Was curious if anyone had written an ALF for Dow theory
> trades
> > as of
> > > > yet?
> > > > >
> > > > >
> > > > > MarkK
> > > > >
> > > >
> > > > i've also been thinking about it lately :)
> > > >
> > >
> >
>
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