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The Market thermometer is not to be used as a buy/sell signal.
According to the author it should be used to guage the level of
activity in the markets.You dont want to buy in runaway moves so
market thermometer shows when the markets are lazy or consolidating.
If your following a trending stock, use market thermometer to follow
the channel line. When the stock reaches the lower channel signaling
a trade and Market thermometer is under the EMA for more than 3-4 bars
Chances of a breakout from consolidation is possible and should be
watched. Thats it in a nutshell.
Thanks to all who responded with formulas and ideas.
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