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Here's a couple of items that might interest this board:
In terms of ~2 days swings, the channel indicator, shows
that we have entered into an overbought situation or that
we're at the start of a steady uptrend. Secondly, the bbc
indicator also shows Overbought. The bbc attempts to track
those 1.5 to 2.5 day swings. The bbc range goes from ~6.0 to
~-6.0 and it is currently sitting at an oversold level and I
am waiting for it to turn sometime on tuesday or early
wednesday. The down turn may be weak, I cannot predict this.
A bit more on the channel indicator, it is based on the
Probability Channel indicator recently posted by BobR. I
modified it to generate channels on intra day charts. I used
the Hilbert Transform to make it a bit more adaptive. Email
me should you want easylanguage code for this
"Probability/Hilbert channel" indicator.
The buy/sell signals are based on the bbc turns. Because bbc
is a complex piece of code, I am not able to make this
indicator/strategy available, but I can post its status from
time to time as necessary. If the markets are swinging this
is an OK to good indicator that help me get in the right
frame of mind.
Regards,
Ernie
ebonugli@xxxxxxxx
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