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Most patterns can not be scanned for or tested with the tools available to
the trader. If you restrict yourself to a few stocks, as some here seem to
do, you can step back to pre-computer days and read patterns. But try that
with 100, 1000, 10,000 stocks. In pre-computer days, We used weekly data, 10
week ma, patterns, rarely using indicators. Heck we didn't have data except
hand inputs, there wasn't a hand calculator until the 1970s. I remember
buying a Bomar for $300 with the power of a $3 one today. That replaced the
slide rule.
I know all the classic patterns, I don't trade them.
Richard Estes
-----Original Message-----
From: michael.arnoldi@xxxxxxxx <michael.arnoldi@xxxxxxxx>
To: metastock-list@xxxxxxxxx <metastock-list@xxxxxxxxx>
Date: Sunday, December 07, 1997 3:32 PM
Subject: an old friend i call "ultimate indicater"
>eventhough this indicator is based on the zig-zag system and works as
>hindesight, it sure keeps me on the right side of a trade (arrows formed
>by experts / symbols on my charts - using different numbers after
>optimizing each stock) Alert(TroughBars(1,L,opt1)=0,0)
> Alert(PeakBars(1,H,opt1)=0,0)
>
>and for explorations:
>
>BUY:
>Alert(Alert(TroughBars(1,L,5)=0,0),4)
>SELL:
>Alert(Alert(PeakBars(1,H,5)=0,0),4)
>these formulas are for exploration purpse only.
>i will try it out in real life with day to day data, to see if the
>results are valid.
>
>note: my most recent exploration signals are:
>BAY buy 12/3 (hindesight)
>CNC sell 12/2 (hindesight)
>
>mike
>
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