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I may be late responding to this as I was gone this weekend. I use them
alot, they are based on fib levels but in a proprietary way (ie Tom does not
disclose), the way I use them is to go to a higher time frame then I am
trading and add the Webs, normally I use weekly bars to draw the webs as I
am a swing trader. then go back to the lower time frames and VEEEERY often
the web lines will act as support and resistance. The one thing that I do
not like about the WEB is that they are based on the last completed bar and
a bar is not considered complete until a new bar starts. The prob is that
first you must update all the charts that you use webs on afterr a new bar
(this is one reason I do not do it on the daily bars) starts this means for
me that instead of updating my charts over the weekend I have to do it first
thing on Monday. But it is a great tool to add to your thoughts about a
trade. The web lines can also be good Balance Lines that show strengh or
weakness.
-----Original Message-----
From: Acefuture [mailto:acefuture@xxxxxxxxxxxxxxxx]
Sent: Sunday, October 21, 2001 6:23 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] TJ's Web in Adv GET?
Does anyone have any idea of what the TJ's Web levels are which can be
displayed in Advanced GET? How are they calculated? What are they based on?
They appear useful and I would like to see if I could use them in
TradeStation.
Thanks,
Howard
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