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Dans un courrier daté du 13/10/98 01:17:03 , vous avez écrit :
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Personally, I think the paintbar included in Superchart or Tradestation is
almost the same if not better, but only as an indicator, not for trade
decision making. Don't know about the
stops, because think its a personal matter depending on each individual
trader.
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Indicators that presents buy sell signal as paint bars often mislead the
public.
When plotting the paint bar, thsis done at the END of the considered bar bar,
so the signal is workable for the next bar only.
The fair way to plot a pait bar used as trading signal is to plot the
PREVIOUS color to the CURRENT bar.
But in this case the signal does not looks so good than with the "normal "
paint bar...
As a rule of thumb, be very careful with these so called systems that could
only be indicators with a one bar hidden delay for the uninformed user.
It's very easy for a serious developer to transform the paint bar code into a
true trading system code.
If this was not done, I think that you have the answer on the validity of the
pseudo signal, that is one bar late in real world ,and unable to be
backtested...
EL Paint bars and showme are normally used to highlight some conditions
directly on price data.
EL Systems are used to write true trading systems. Their arrows are not late
but for real (when you understand the TS philosophy).
Period.
I do not own ACTrend, and maybe their paintbar plot is correct if they
displace it
Sincerely,
-Pierre Orphelin
www.sirtrade.com
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