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i calculated the daily range and
multiplied it by a factor and then added/subtracted from the preceding
day's close. unfortnately, price gaps, both up and down, would occur and
as result the calculated entry price levels would be exceeded on the
opening. consequently, i elected to use the opening price as my
reference level.
td rebo was never intended to be a system. it was a template and a
series of ideas from which other creators could improve and develop
their own breakout techniques. the concept is critical--the opening
price, the previous x number of trading days' ranges, the qualifiers;
such as a condition precedent (down close/up close, range 1 ago less
than all ranges 2-5 ago, etc).
despite
the fact that various ratios(.382 and .618 and .236, etc were discussed)
Dtrader wrote:
>
> -----Original Message-----
> From: Tom DeMark <tomdemark@xxxxxxxx>
> To: Dtrader <dan@xxxxxxxxxxxxxxxxx>; omega-list@xxxxxxxxxx
> <omega-list@xxxxxxxxxx>; thenoz@xxxxxxxxxxxx <thenoz@xxxxxxxxxxxx>
> Date: Friday, December 04, 1998 11:58 PM
> Subject: interjection----"td rebo" this has become addictive
>
> :that my specific relationships were the ideal and that is why i
> :encouraged the reader to experiment and with your computer technology
> :and background Dan this process should be a snap for you.
> :i hope this explanation clears up any confusion regarding writer intent.
> :best regards,
> :tom demark
>
> Tom.
> thank you for that concise summary.
>
> but i am still no closer towards understanding what TD Rebo is.
>
> You have never, as far as I can tell, explained the construction of this
> indicator. I only know that it took you 10 times longer to write about it
> than it did to write your first book.
>
> How can one "experiment" with something that is not defined..?? Or must I
> purchase the indicator first in order to experiment with it...??? (granted,
> your book did give us the "selection options" gratis).
>
> separately, for your enlightenment I have never claimed to have any special
> skills, esp computer skills. which makes me curious: what was your intent
> with all these personal comments re "background"..??
>
> best regards
> Dtrader
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