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Here comes some generalizations:
You must first know yourself. To a degree, you set out some of your beliefs,
the S&P 500 and etc. If these thoughts were set down based on experience,
extensive reading and study, or buying the ideas of a person or group of
person, then your next step would be to measure by testing and looking back
to past times to see how well your ideas would work. Then you review the
results, is this what you expected? Does the plan/system provide you results
you want? Did you have an exit plan.?
A good system gives you a clear entry/exit, you must be able to trust it.
That trust comes from back testing and reviewing how it performed with many
stocks. Your system won't be mine or mine,yours.
Now you ask about consolidation and breakout. I feel the biggest value of
bollinger bands is when the bands narrow, price is in near balance with
buyers and sellers, it won't stay that way. A breakout one way or enough
should occur.
If you want to go long try this as an exploration on your stocks, it has
nothing to do with bbands.
Cola:
Ref(HHV(H,21),-3)/Ref(LLV(L,21),-3)<1.2 AND HIGH>Ref(HHV(H,21),-1) AND
VOLUME>Mov(VOLUME,180,S)
Colb: close
Colc: Volume
Filter: cola=1 and colc>100000
Start reading as many TA books you can get your hands on. Your testing may
show your system is not one you can trust.
Richard Estes
-----Original Message-----
From: Brian Hogg <bkhogg@xxxxxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Sunday, July 19, 1998 3:24 PM
Subject: Re: 13,34,89 MACD
>Hello:
>
> I'm a new Metastock user and find myself overwhelmed by the amount of
>information the program provides. Can anyone suggest a course of action to
>take to begin to put all the information into perspective. My belief for a
>trading system is to start with a top down approach... i.e. analyze the S&P
>500 indexes and zero in on an index that is outperforming the others. Once
>you identify the perspective index then zoom in on the batch off stocks tha
t
>comprise that index. This is where my problem begins. There are so many
>indicators and explorations to choose from that I find myself second
>guessing my next move. I'm not new to Technical Analysis, the previous
>system I used was a home grown version. Unfortunately it wouldn't grow with
>me. My best success came from identifying stocks in a consolidation pattern
>and catching the breakout in either direction confirmed by volume. Can
>anyone suggest how to accomplish this with Metastock.
> If there are any other Metastock virgins out there I would welcome the
>opportunity to share some experiences and perhaps gain a better
>understanding of the power of this program.
>
>Happy Trading
>
>Brian
>
>
>-----Original Message-----
>From: Richard Estes <rtestes@xxxxxxxxxxxxxx>
>To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
>Date: Sunday, July 19, 1998 11:09 AM
>Subject: Re: 13,34,89 MACD
>
>
>>
>>What are you missing? Not looking at it to see results.
>>
>>Mov(C,13,E) - Mov(C,34,E)-Mov((Mov(C,13,E) - Mov(C,34,E)),89,E)
>>
>>Plot as a histogram and use 0 trigger.
>>
>>Richard Estes
>>
>>
>>-----Original Message-----
>>From: Tom Strickland <tstrickland@xxxxxxxxxxxxx>
>>To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
>>Date: Sunday, July 19, 1998 12:31 PM
>>Subject: 13,34,89 MACD
>>
>>
>>>Bob Jagow mentioned the 13,34,89 MACD in a recent message. As a new
member
>>>to this mailing list, I haven't seen the previous discussions of this
>>>indicator. I wonder, is 89 the time length of the trigger line? Seems
like
>>>such a long time period would produce an almost horizontal trigger, not
>too
>>>much different from the 0 line. What am I missing here?
>>>Could someone clarify this for me?
>>>
>>>Thank you,
>>>
>>>Tom Strickland
>>>tstrickland@xxxxxxxxxxxxx
>>>
>>>
>>
>
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