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I posted my implementation of Walter Bressert's
double stochastic cycle 10 (and 5) indicators. In answer to use of them, I
plot both the 10 cycle (longer view) and the 5 cycle (short term) in one window
of a chart having several other windows with other indicators of my
choice. The "double" stochastic is a modification of the basic
stochastic. The double stochastic tends to move earlier than the
equivalent stochastic and hence is a good early warning overbought and oversold
indicator.
I would recommend the cycle 10 and cycle 5 be
used in combination with other indicators that address other conditions, e.g.
trending or not, tendency to cycle within a range in order to get a better
overall view of the stock as well as the market as a whole. For example, I
use the same set of indicators to look at the NASDAQ composite as I use for
stocks. The same indicators that I use of the multiple chart windows are
used in exploration to filter a fairly large database of stocks down to less
than 2% for serious consideration.
Chuck aka tatrader
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