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When I tested Schaff, I found the signals to work well sometimes.
However, I also got a lot of signals that were very short lived, and
I also had some premature signals that took me out of trades way too
soon, or left me way too long.
I found that the Schaff formulas I had worked better on longer charts
like 60 minutes and EOD. That could be the input variables. I haven't
taken the time to see if there's a set that works better on short
time frames.
My experience suggested that the highlight formulas I posted worked
better with entry and exit signals generated with my indicator
formulas. However, I don't trade currency markets or futures so the
signals may be better there.
I mentioned an Aroon formula that I had written which works better
than the Schaff's for identifying trend changes. However, they only
work about 10% better which may not be important enough if they're
not generating entry and exit signals.
Another advantage to the Aroon formulas is they were consistent
across all time frames. That's a major advantage.
I'm not very knowledge about the Schaff Cycles. I have traded
Bressert and Bressert generates entry and exit signals at just about
the same points as my system, but it's very complex and mine isn't so
I stick with the simple. From what I have seen the Schaff Cycles are
not as accurate as Bressert's but I haven't done extensive testing,
just eyeballing.
That's about it.
JO
--- In Metastockusers@xxxxxxxxxxxxxxx, "Michael Bethell" <mdtmn@xxxx>
wrote:
>
>
> Hi Jo,
> You wrote;
>
> "Schaffer is so so,"
>
> "These are highlights for trends, not entry and exit signals."
>
> Regarding the other Doug Schaff indicator set. Do you have a view on
> them as
> An entry and exit triggers?
>
> They appear to be Doug Schaff's implememaattion of the Walter
Bressert
> tool box
> To currencies
>
> Thanks
> Michael B
>
>
>
>
>
>
>
>
>
> but here's a new and improved version of the
> highlights. If you're going to use them, they might as well tell you
> something you can use. I wrote some Aroon code for highlights
that's
> about 10% more accurate in spotting trend changes, but these are
> pretty good.
>
> These Schaff highlight are comparable to CS Scientific's highlights,
> which are very good considering they came with MS. These work best
> when used on time frames greater than 20 min. I haven't tried to fix
> them up for 5 and 10 minute screens. Maybe later.
>
> Highlight Green Up Trend
>
> Cycle:=10;
> SH:=23;
> LG:=50;
> MCD := Wilders( Typical(),Sh) - Wilders( Typical(),Lg);
> ST := ((MCD-LLV(MCD,Cycle)) / (HHV(MCD,Cycle)-LLV(MCD,Cycle))) *100;
> STC := Wilders(ST,Cycle/2);
> i:=Cross(stc,25);
> dn:=Cross(25,stc);
> x:=BarsSince(i)<=BarsSince(i OR dn)=0;
> X=0
>
> Highlight Red Down Trend
>
> Cycle:=10;
> SH:=23;
> LG:=50;
> MCD := Wilders( Typical(),Sh) - Wilders( Typical(),Lg);
> ST := ((MCD-LLV(MCD,Cycle)) / (HHV(MCD,Cycle)-LLV(MCD,Cycle))) *100;
> STC := Wilders(ST,Cycle/2);
> i:=Cross(25,stc);
> dn:=Cross(stc,25);
> x:=BarsSince(i)<=BarsSince(i OR dn)=0;
> X=0
>
> Remember to color your price line black. Compare this to the CS
> Scientific's to make sure you've got it. These should be just a
little
> better.
>
> Good luck writing an Aroon version that's 10% better than these two.
> These are highlights for trends, not entry and exit signals.
>
> Maybe someone can optimize these and share them. That would be nice!
>
> JO
>
>
>
>
>
>
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