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Hi Preston,
Thanks for putting charts in a folder. That is real nice and neat.
As for the indicators I can't explain the technical part of them. And
so far that is mainly what is posted in this group. I do not have a
clue on how to build any and/or talk the language. Since I got
MetaStock I have wanted to learn, but I also have become disabled and
sitting and standing is painful. So learning is on back-burner for
now. But when I saw demo of indicators working real-time I decided to
get Lightning Strikes.
But here is my simple explanation of Lightning Strikes and the
indicators. There are 2 short-term (white, blue), 2 medium-term
(green, gray), and 3 long-term (red, purple, yellow) indicators.
Volume (gray and dotted histogram) and when present On Balance Volume
(pink) can be added. Also the 2 green horizontal lines are current
support and resistance. So when most of the indicators are touching
or near bottom green line, you know price is at/near support (for
that time frame).
LS works on any time frame except the tick chart is not recommended.
Also the longer time frames (daily, weekly, etc.) are to be respected
more than the shorter time frames
(1 minute, 15 minute, hour, etc.). And using a combination of times
frames at once can be very beneficial. Example (5min, 15min, 1hour,
4hour, and daily) can signal together for best
position to enter/exit.
There are several ways to trade LS. I briefly touched on the Driver
and 5 Event trades in message 26420 and on DJI 11-15-07 daily chart.
The Driver is when all indicators are touching either support or
resistance and will actually push through the green
support/resistance line. The green line will actually rise if support
is broken and drop if resistance is broken. The 5 Event is when the
Driver is ending and all indicators have hit top or bottom and red
has hit 2-3 times before crossing yellow, and then the yellow starts
turning up if at support, down if at resistance.
There are bounce trades from any of the indicators or combination of
indicators. Example from 11-15-07 DJI daily chart; the DJI on 11-13-
07 went up 300+ points. Notice how white was near top on 11-13-07,
then on 11-14-07 it hit top and price closed down, and white started
down. Today, 11-16-07 when the DJI was at low around 2:30 pm est. the
white, red, grey, yellow hit bottom and price bounced up from there.
But if you looked at end of day chart close you would not know that
happened if you had not been watching. That was a 100+ point move
from low to close. Another is look at DJI daily chart; on 10-10-07
the yellow, red, pink, and white are touching top. The next day DJI
closed down and except for yellow the indicators turned down. On 10-
12-07 yellow turned down. But remember trading a shorter time frame
would have gotten you in near high on the 11th, and 12th.
After several breaks in typing this I am very sorry but I need to
stop because I am hurting. In closing I will be glad to answer any
questions and if you want to see live you can go to free training
sessions. Or you can download recorded live training sessions from
website.
Burt
--- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxx> wrote:
>
> Burt,
>
> I have placed all your charts into a folder title "BURTS".
>
> Tell us about the indicators you are using.
>
> Preston
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "rbw1226" <rbw1226@> wrote:
> >
> > I believe the market is near major support area. If broken then
the
> > possible R word may be upon us. So I did charts for DJI, S&P 500
and
> > Nasdaq. I also uploaded chart for GLD. Basically for the 11-15-07
> > charts I only explained where I think support is for DJI. If DJI
> falls
> > through support or turns upward to complete wave 5, the others
> should
> > also. If any of you have other thoughts I would love to read them
or
> > see charts, indicators, etc.
> >
> > Burt
> >
>
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