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The MACD is a SETUP indicator.. not an entry indicator. Unless you are using
it to CONFIRM the trend change when it does a solid crossover, slope change
and heading across mid-line. This overbought or oversold condition is part
of finding
setups along with other volatility indicators. You are supposed to
anticipate with it.. not use as a final signal. So, it should be used for
what it is useful for.
Yes the StochRSI or other derivative of indicators might be interesting.
HOWEVER, using simple indicators and methods like support and resistence
and channel lines is not contra-indicated just because OTHERS use them. The
fact that others use them make them useful to the herd mentality of price
moves.. The secret is to be a little ahead of others.. both on entry and
exit, but ESPECIALLY on exit. My opinion.
R
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