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Hi guys
Thanks for your emails. Rather than get into a discussion re favourite MA's
or cycle lengths, I wanted to develop my concerns about "approximations" and
"adaptives". First, I don't use approximations now because of the gradual
availablity of "adaptive" indicators. Secondly, I've become very wary about
"derivatives" of any kind and the need to know where I am at any time.
We need a whole new class of graphic indicators that are "viewing"
indicators, i.e., they tell you where the "derivative" is "at" and how it
got there.
Much like the problem that exists using MAE (Maximum Adverse Excursion) in
the System Tester. It's fine as it exists but I need to develop more graphic
indicators along with the code for testing and explorations.
I need to develop indicators that tell the day in the trade of the MAE
(i.e., Day 4); the average MAE for the last 20 trades etc. Also the same
indicators for MFE (Maximum Favourable Excursion). Plus indicators to
compare the move against the ATR for example. This is important for anyone
trying to develop"proven correct" time points, i.e., close of Day 4, mid-day
Day 6, etc.
I was glad to see the complexity of the "shark" indicator and explorations
etc. because one of the trigger levels I need to develop in the DBS (Dynamic
Breakout System) is the price bar set-up pattern level. Only occasionally
have I seen the code for price bar set-ups so well explained.
So, there are lots of areas that I'm excited about and I'm looking forward
to creative year, given the level of talent and expertise on this bulletin
board.
My best to all of you as we move into these new areas.
Walter
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