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I personally use Tom Josephs Get to analyze the Elliott wave to see if it is
more likely to go in a particular direction. I also use an MACD with 5,34
and smoothing of 34 on the HLOC/4 to determine change. It is quite good as a
lone indicator or in conjuction with bollinger bands. When the macd crosses
the 34 MA it is time to look at buying or selling. Not the holy grail but
what is. Tony
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Bill Saxon
Sent: Saturday, June 06, 1998 5:24 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: MA Envelope
Scott,
Bollinger says these signals should always be filtered to determine if they
are
continuation or reversal in nature by using a price indicator such as RSI or
MACD combined with a volume indicator such as On Balance Volume or Cash
Flow.
Of course, this doesn't always work, but what does?
Bollinger offers a free pamphlet on his Bands as published at TASC at his
web
site. I was going to send you the address but it has changed. Perhaps
someone
else on the List has it. You may be able to find the article at TASC's
site.
Scott Roycraft wrote:
> -----Original Message-----
> From: Tony Harring <greatsigns@xxxxxxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
> Date: Saturday, June 06, 1998 1:28 PM
> Subject: RE: MA Envelope
>
> |you should look at Bollinger bands. I use them and change the parameters
to
> |18 and 1.8 instead of default 20 periods and 2 standard dev. When it gets
> |very narrow it is due for a breakout in either direction. tony
> |
>
> How can you tell which direction? I have noticed that some of the time
when
> it moves
> outside the band it will pull back in forming a turning point. Other times
> it "slides" down
> or up the band continuing to make new lows or highs. About the only thing
it
> tells me is
> like you said -- when it gets narrow some thing is about to happen. But I
am
> constantly
> getting caught on the wrong side! There has to be something that can be
> combined
> with these bands to help in the direction of the break.
>
> Scott
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