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I ran the AvgTrueRange Indicator on my chart with the 'Phil Lane System'
posted Friday.
The 'Phil Lane System'.... just to set the ground work. Combines both
elements of Chuck LeBeau's web site 'Tool Kit' located at
http://traderclub.com/ This is the first time I have seen someone
take the time to code in the ATR Volatility trigger and the Chandelier
Exit, and this works very well on SPX data. I suppose that 'code
vendors' will claim that they use it 'all' the time....I have not seen
an evidence of this ..yet.
Maybe I haven't seen their code. It's not a big issue with this Do-it
-yourselfer.
What is important, is that we have a working sample of this in
code...... obviously with a little effort other studies and enhancements
can be written around those two features.
Back to the ATR... this indicator seems to run out of sync with the
price data. Price goes up (in swings) and the ATR trends downward.
Next chart...Price charting is going downward (in swings) and the ATR
is trending upward..... occasionally ATR moves in the same direction as
the price swing. What gives????
I remember Timothy Morge and a few of the longer term list members
having a chat about something like this several months back.... but I
couldn't relate to the information back then. To day my eyes are Bug
Eyed at the finding. I don't know....... do you think the guy would
have enough time between diaper changes (every 2-3 hrs if I remember)
and bottle feedings ( about the same time frame) to give us a little
information on this. Or .....maybe.....someone else can take a shot at
this......
John
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