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This time I tested it and tweaked myself. So it looks muuuuch better then Lee's SP demo that you like to mindlessly critisize so much.
I tested it on 2 years of Dow data feeding chart with data week by week. It picks practically every turn major and small. It picked mid March top and last minor pop up in the beginning of May as well.
Fine tuning is the key. If you want to know the settings, they are :
Length: 1) 200 2) 100 3) 50
Width: 1) 3 2) 1.6 3) 1
Amplitude: 1) 0.5 2) 0.6 3) 0.6
Yes, sometimes price blows the channel, sometimes it doesn't reach it. But you have to consider time factor - cyclical turns of the bands. When time and price coinside, then it happens. When 2 cicles coinside bigger turn happens, when 3, even bigger.
Use other methods to calculate price targets.
Have fun,
Greg.
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