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I have not read Bill William's original work, but I do not think so.
He may have done a statistical study, but I am not aware of it.
In general I do not use fractals on their own, but in my experience
they work well when combined with other criteria such as momentum
indicators. If you have a favourite system already, try combining
fractals with it to define entry points and stop loss levels. For
example, if you use a simple slow stochastic, wait for the fractal to
confirm. Williams combined fractals with his Alligator /
Accelerator / Awesome oscillator system. (The Profitunity expert
included with Metastock Pro 7.2). This sytem works quite well. But
there may be more to fractal theory than I am aware of.
Often when you have an established trend, fractals are good secondary
enrty points if you missed the begining of the move. I often use them
for setting alerts to catch a second entry point.
I have an updated expert that I will upload together with a screen
snapshot so you can have look at it.
--- In equismetastock@xxxxxxxxxxxxxxx, "andrew_slemko"
<andrew_slemko@xxxx> wrote:
> Southern_man992000,
>
> just a quick question about your fractal indicators and expert
> advisor.
> Does each fractal indicator rank the same on a scale of 1 to 10? or
> is there a difference between signal strenghts from one indicator
to
> the next? Say one is strong (10) / mild (6) / and weak (4)? or are
> the all the same strenght?
>
>
> Andrew
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