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J,
If you use one of the momentum indicators (RSI, StochRSI, CMO, ...) that you're
comfortable with, stay with it. Adding more of 'em doesn't add new information.
I used to follow a multiplicity of near identical indicators myself, but I
found out that I tend to zero in on the one that confirms what I wanted to do
anyway (especially dangerous for judging when to get out!)
I should think it best to take an indicator that measures someting different
like Volume (if you have those data). Also, how about using your oscillator for
getting a setup condition and a chart formation as your trigger (Micro-W,
Shark-Fins, Gaps, Outside Days or whatever).
Hope this helps. Happy Trading,
Jan Willem Roberts
j seed wrote:
> Ian,
>
> I like to use a CCI in the same fashion you are using the RSI. This was
> popularised by D.W.Davies at Tradertalk. He also wrote a TASC article about
> it in '95, I believe. One other option is a short term indicator along with
> a long term. I like to do this with the Williams%R. I believe Jim G. does
> this with a StochRSI.
>
> J.
>
> >From: "Ian Burgoyne" <iburgy@xxxxxxxxxxx>
>
> >Is anyone on the list able to suggest a really good short term momentum
> >indicator which gets you close to the tops and bottoms of short term
> >trades(3-5 day). I use a 3 day RSI smoothed 3 periods as suggested by
> >Walter
> >Bressert in a TASC article some time back which is not bad (see code
> >below).
> >I also use the CMO in the same way but both are too similar. I'm after a
> >second confirming indicator. Any suggestions?
> >Ian
> >
> >RSI code Mov(RSI(3),3,S)
> >CMO code Mov(CMO(C,3),3,S)
>
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