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It different indicators are similar they will give similar answers. Tushar
Chande discusses this in "New Technical Indicators".
To check if your indicators are similar just plot them in the same window,
If they give the same signals, then they are the same.
Lionel Issen
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From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of drauosi
Sent: Monday, June 05, 2006 2:08 PM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group] Similar Indicators
Hi All,
I've read many books on techinical analysis that strongly suggest not
to use "similar" indicators as confirmation of a buy or sell signal.
For example, do not use moving average crossover with a MACD because
they both rely on moving averages of the closing prices. Does anybody
have a list of indicators that should not be used in this way? I've
searched the net but no luck so far.
I've also found that some "experts" call the RSI a leading indicator
and others call it a price following indicator. Can anybody supply me
with a list of the common indicators and whether they are leading or
price following?
Many thanks,
Jeff.
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