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Leading indicators are hard to come by, for sure. Two things you can look at:
1. Joe DiNapoli is a S&P trader and differentiates between lagging (nearly all) indicators and leading indicators. He uses Fibonacci levels as a leading indicator in a unqiue way. He has written a book called DiNapoli Levels, which is well developed. This is not the way I trade, but well worth checking out.
2. Richard Wyckoff traded the markets in the US from the late 1800s to the 1930s. Not a modern computer/statistisical/trading systems kind of guy, so most all traders overlook this remarkable genius -- to their peril, I think. Truely, a wonderful resource for those who have not reviewed his material. In any event, I would catagorize his use of point & figure charting as a leading indicator. Everything this man wrote is pure gold, in my opinion. He was actually the first to write about technical anaylisis, inculding day-trading (in 1911!). His work continues through the Stock Market Institute in Arizona. You will find their telephone number (no web site, whcih seems appriopriate) through a google search.
Good luck. And, when you find the Holy Grail, please be sure to let me know!
Whit
Andrew Tomlinson <andrew_tomlinson@xxxxxxxxxxx> wrote: Williams %R is just an upside-down stochastic. Using them both is wasted
screen space.
-----Original Message-----
From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of stocks_bobby
Sent: Monday, June 12, 2006 6:31 AM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group] Best lead indiactor
Dear Group Members,
I am from India and trade in futures using metastock.I do Intra day trading,
that is I square of my position at teh end of each trading day.
Currently I am using stochastic oscillator(Parameters-6,5,3),w%R,and
MACD(Parameter-5).
Can any body advice me about any indicator which can lead the market- that
is an indicator which can tell me what is going to happen before it really
happens.
If their is an indiactor,kindly also give me it's parameters or formulae.
Hoping to hear.
Bye
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