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TA is no magic bullet. It can't predict the future. I've been trading
for many years and TA is of limited value.
There are only two things which might help you. You can use
trendlines. Trendlines take some experience, especially watching
stocks bounce around the trend line. Longer term trend traders use
trendlines as stops.
The second is the B & Q indicators. They are very good at determining
when a trend is over. They are based on some very sound time series
math. You can read about them here.
http://www.alticom.com/indicators/overview.html
and here.
http://store.traders.com/stcov221trin.html
Unfortunately Equis programmed these wrong. I see they finally took
the bogus code down.
Roy and I programmed these when I first learned about David's work.
Now Roy has written a new version using Dll's that's fast, accurate
and doesn't use any prev statements. I've found that the Q indicator
distinguishes between consolidations, small pullbacks, and end of
trend better than anything I've used.
It's worth the price of a subscription to Roy's newsletter alone.
You'll make back the subscription costs in two or three trades.
Brilliant code.
Good luck!
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