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Bill,
I can also attest to the value of a coincidence of P and V movement marking important pivot points (not those daily R1,S1,PP thingies, but the real price pivot points that are marked by zigzag functions after the fact). I use them all the time. They can not be used alone, but when combined with S/R and trend lines, they are great at-the-second confirmations for pulling the trigger right at the peak or valley. Only problem is it can not be backtested except with a tick database and incredibly fast software and algorithms. You just can't beat the human eye yet for fast pattern recognition.
Dennis On Mar 14, 2008, at 5:17 PM, wavemechanic wrote: I did not mean to suggest that pivots were leading but rather those that use volume/price analysis (present vs. past) can pick up S/R levels. When things come together in the present relative to this analysis they move, as opposed to those who use more standard S/R levels (e.g., pivots, Fib, etc.) from what I have seen tend to get fooled more often. In this sense, volume/price analysis as they practice it is a leading indicator in that they are looking for a certain configuration but it is certainly not for timing purposes (when it happens it happens). I have watched this done with amazement but have not picked up all of the details that would permit me to use this method. Bill ----- Original Message ----- Sent: Friday, March 14, 2008 4:19 PM Subject: Re: [amibroker] Re: Leading indicators
Bill, I've never seen pivot points classified as a leading indicator so I didn't consider them in this vein. I just disagree that volume/price coming together is a good leading indicator for price appreciation per my previous comments. Just my opinion. I agree it can be the "hear and now" as long as one recognizes a sell-off or down turn when they see one as the volume increases in the ratio while the price is decreasing in the ratio. It's like A/D -- it can be a great hear and now providing you can get your head wrapped around the fact that an upward trend of the line does NOT mean automatically that price is increasing. This is why A/D is hard for a lot of people to read successfully -- they are so accustomed to an upward turning line meaning price going up. Judith
----- Original Message ---- From: wavemechanic < timesarrow@xxxxxxxxxxxxx> To: amibroker@xxxxxxxxxxxxxxxSent: Friday, March 14, 2008 2:56:35 PM Subject: Re: [amibroker] Re: Leading indicators
The volume traders that I know do not use volume increase/decrease in the "here and now" but rather relative to past volume/price values. I have watch them and find that their S/R generated in that manner is better than usual pivot, etc. techniques. However, when volume/price come together at those points they do act in the "here and now." Bill ----- Original Message ----- Sent: Friday, March 14, 2008 3:49 PM Subject: Re: [amibroker] Re: Leading indicators
While on the subject of leading, don't EVER forget that increased volume many, many times means a lot more SELLING than BUYING -- that's why I prefer a leading indicator such as a Multiple Line Stochastic that works of price changes only -- volume can come back and bite you if you go only for an increase being a "good" thing. Judith ----- Original Message ---- From: wavemechanic <timesarrow@xxxxxxxx h.net> To: amibroker@xxxxxxxxx ps.comSent: Friday, March 14, 2008 2:40:54 PM Subject: Re: [amibroker] Re: Leading indicators
Good point about momo indicators and divergence but it goes a bit farther. The velocity of the momo gives a good heads up regarding price movement and acceleration of major reversals. Not perfect by any means but very useful in one's bag of tricks. Bill ----- Original Message -----Sent: Friday, March 14, 2008 10:02 AM Subject: [amibroker] Re: Leading indicators
Some "Lagging" indicators "Sometimes" display "Leading"
characteristics.
Any half decent momentum indicator may display divergence on a
double top/bottom for example.
If I receive an entry signal at such a time my trading plan forces me
to increase my initial position size and any subsequent
pyramiding - obviously a result of my belief that the indicator is
leading price at this time.
I also utilise an advance/deline indicator to fine tune entries.
Say I'm looking at a long position on a pullback trade.
I'm waiting for signs that the is about market to turn back up.
I may have two red candles, but my AD line may well turn
back up on the last or sometimes both days.
You'd better believe I'm loading up for big game (position size wize)
if, on the following day, price turns back up also.
IMO the AD line is leading price.
So "Leading" indicators?
Well no ....but sometimes yes.
Regds and good trading
Gerard
--- In amibroker@xxxxxxxxx ps.com, Kethek Ogleng <budheng0402@ ...>
wrote:
>
> Dear Thomasz and Brian,
>
> I have explored indicators that I am aware of, but I have not found
single leading indicator. Eventhough I hv changed the parameters, ,
the indicators were all lagged. The fastest indicator that I am aware
of is Heikin-Ashi, but still it is not leading indicator. In the best
of your knowledge and experience, what are leading indicators
available for AB users (or at least faster that Heikin-Ashi) ?
Logically (for non-IT guy like me), the leading indicator must
contain price linear regression and volume components.
> I am aware that if someone had it, he or she must be a
multibillioner and wouldnt share with us. Ha ha ha
>
> Regards,
> Kethek
>
>
>
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