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Chuck,
Your book "Technical Analysis of the Futures Market" is what the "Lonely
Planet" guide is to International travel. Thanks!
A better way to put my original question on Armageddon of oscillators and
indicators is to say that IMHO in daytrading with charts of 1-60 mins the
"stochastic pop" happens too often - (pretty disturbing if your trying to
trade swings) where the price action forces over bought / oversold and may
continue for some time ie that your "trigger" has gone off - maybe too
early?
So I would like each of my indicators/oscillators to pick up and signal
continuing market action outside the norm - like a poor weather warning and
commentary so you don't have to watch the skies all day. Maybe the solution
is to try and define the norm and then add a range of audible alerts to each
indicator which quantify the degree of extreme ? ie light showers, heavy
rain, flooding, tempest etc..
You mention rising ADX - do you find it at all useful in time frames below
an hour for say the S&P ?
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You wrote:
My favorite as most people know is the ADX rising. Other good entries are
volatility type entries, CCI, and channel breakouts. Except for the ADX,
most
entries require a two step process of a "setup" followed by a "trigger". I
think Charles Wright gave me that idea almost ten years ago and it has been
a
most valuable way of thinking about entries. I think his name still pops up
on this list from time to time. The setup defines the direction and
strength
of the trend and then the trigger is the precise timing mechanism that gets
you started in the right direction at the right time. If you follow this
setup
and trigger process a lot of indicators will start working.
Chuck LeBeau
traderclub.com
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