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I agree with David's assessment on the TIKI as it stands, but do this: Run
an RSI against it and use that as your indicator rather than the TIKI per se
(you won't read that in the books). It is still imperfect but I had a friend
who used it to verify the trade he was about to take. If the RSI on the TIKI
was strongly pointing the other direction, he wouldn't take the trade until
more information came in.
Jim Johnson cited the Larry McMillan book I read on the TIKI. I wouldn't
recommend the book for just the chapter on the TIKI unless you can get it
from the library or borrow it.
Sincerely,
Wes
>
>
> David:
>
> My take is the ticki is generally too noisy, while in
> strong trends it may not get to some arbitrary point
> (say -20) and you miss the move. But hey, if someone
> has a ticki system that beats the basic OB, or whatever,
> please post the results.
>
> Perhaps my comment "a complete waste of time" is too
> harsh, but I think there are better places to look.
>
> BW
>
>
> >From: "David Folster" <mr_bond@xxxxxxxxx>
> >To: "Bill Wynne" <tradewynne@xxxxxxxxxxx>, <softexcl@xxxxxxx>,
> ><ebonugli@xxxxxxxx>, <omega-list@xxxxxxxxxx>
> >CC: <rfurse@xxxxxxxxxxxx>
> >Subject: Re: OddBall as a market timing tool
> >Date: Thu, 21 Feb 2002 10:28:01 -0800
> >
> >Bill,
> >
> >I found TIKI had some value as a daytrading technique if you
> used it as an
> >oversold measure in a rising market and vice versa for a falling market.
> >i.e. If 5 minute SP > than 25 period MA and tiki = -20 or less, buy.
> >Didn't
> >define an exit technique but one possibility would be exit when
> you have a
> >profit and the majority of a 5 minute tiki bar is < 0. Possibly
> adding my
> >OB DB as a filter for longs/shorts would work better.
> >
> >Any comments?
> >
> >David
> >
> > > Raschke, Conners, Schwartz all talk about tick and tiki methodologies
> > > in recent books..... (IMHO a complete waste of time...the tiki systems
> >that
> > > is). Ned Davis and many others have been doing breadth (i.e.
> > > A/D) research for decades.
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