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Philip and I discussed this indicator privately yesterday, and he has
some very valid points here. I have to admit to making some slight
modifications to it, so the one that I use is not the "official"
version as sold by "Street Smarts" publishers, but the concepts are
the same as explained in the book. I prefer to translate concepts into
code using my interpretation, rather than others. It just gives me a
better "feel" for what it is doing.
But this does require further investigation. I was wondering if
anybody on this list is a subscriber to Linda Raschke's fax service.
I'd like to obtain a history of her calls with this indicator to
compare
it to mine.
In regards to the indicator displayed on the chart, keep in mind that
it is a 200 minute chart, not a daily. Were you looking at it on a
200? If not, I'd suggest trying it and see if it is still "jumpy". To
be honest, I just put this indicator on the chart a couple of weeks
ago. I'm trying to see how it fits in with the other "cycle"
indicators that I use. So far, the jury is still out, but I see some
potential.
I would be interested in more discussion on this too!
Bob Hunt
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"Nixon(MLS)" wrote:
>
> Bob,
>
> You wrote,
>
> >The "pressure" being applied to yesterday's
> >market by the 2 Day ROC Sell signal was downward in direction.
>
> Further to my email of yesterday and as I said I am no expert on this one as
> I don't really use the the Street Smarts 2 day ROC Indicator in my trading
> other than as background info and even then only occasionally. Having said
> that I still disagree with your interpretation of the "signal" if signal it
> be. You were calling for a sell yesterday but the 2day ROC had just
> flipped up so is unlikely to flip down again without a further up move which
> is what we saw yesterday. Today is more likely to be a flip down day but
> you have to look at the number which will cause the Indicator to flip which
> today is 122-06. Sometimes when you look at where this flip number is that
> the market could still be substantially higher and the ROC could still flip
> down. In addition having looked at your gif chart your 2 day ROC does
> seem to be incorrect as it seems a lot more 'jumpy' than the version I got
> from the publishers of Street smarts.
>
> I would be interested to hear from anyone else using this one who could give
> a little more guidance on it's interpretation.
>
> Just food for thought.
>
> regards
>
> Philip
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