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Hello RB,
It's been a while since I used his Floor Trader Tools that included
the cycle identifier. But I can say I stopped using them. I hate
black-box indicators and always found Roy's explanations be so vague
as to not give my any sense of what the indicator is telling me. He
did say it is not stochastic-based as his former partner Bressert
does. Like so many indicators, don't put much faith in
after-the-fact charts. His indicators signal a turn but then
"turn-off" if price doesn't do what it is supposed to. Unless you
mark them yourself, you never know how many/where false signals were
generated.
So in effect what you get is a signal that says "this may be a turning
point based on whatever goes on inside this indicator." I think you
could do that with any number of simpler, open-code, no-cost
indicators. E.g., various reversal bar patterns occurring after a
minimum of X bars from previous swing high or moving average
oscillator signals.
I didn't find the indicators very worthwhile.
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
--
Thursday, November 28, 2002, 1:54:02 PM, you wrote:
R> If anyone has and uses Roy Kellys Cycle Identifier, I would like to know if
R> it shows the turning points a few bars before they happen, a few bars after
R> they happen, or while they happen?
R> Are the turns shown in time to trade them?
R> How accurate would you say they are?
R> What kind of inputs does the user put in the format indicator box?
R> Any oher info about them from users would be very helpful. I am thinking
R> of maybe ordering it from Roy.
R> Thanks,
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