Mactheriverrat
3,153 posts
msg #146192
- Ignore Mactheriverrat |
1/21/2019 1:55:11 PM
IMHO - If one can make $ off what they see be DMA , Guppy, RSI(2) , Bollinger band of any width or what ever one decides to use then more power to him or her I say.
|
Cheese
1,374 posts
msg #146193
- Ignore Cheese |
1/21/2019 1:59:35 PM
davesaint86 and snappyfrog
Thank you very much for selflessly sharing your clever ideas,
I want to highlight the seemingly demure appearance of crsi_bar cleverly coded by davesaint86
The underlying value of davesaint86's crsi_bar is the all important rsi(30) above and below 50
If we just draw the rsi(30), then it appears squished to its 50 line.
Hence, the clever coding of crsi_bar showing when rsi(30) is above or below 50 .
I hold the rsi(30) <50 >50 dear because it was Marty Chenard's retirement gift to his readers.
Some of you may have known Marty Chenard as a guru's guru of stocktiming fame.
Here is what Marty wrote:
http://www.stocktiming.net/?p=3711
February 5, 2018 By Marty Chenard
You can know if we are in a bear market or not
by looking at a 30 day RSI setting and the 3 key indexes (the SPX, the NDX, and the RUT).
A 30 day RSI is almost magical
because you can draw trend lines off of it
that will hold well on the individual indexes.
If we are in a Bull Market,
a 30 day RSI will have
a reading of 50% on each of the above mentioned indexes.
As deterioration starts to occur
one or more Indexes will have a reading below 50%.
If one or two have such a reading, then there is definitely deterioration going on.
If there are only two out of three indexes
with a below 50% reading on the 30 day RSI,
then there is definitely deterioration going on,
but 3 out of 3 changes the everything and we are then in a down trend.
Three out of three means that severe deterioration is happening,
and that a pull back or correction is happening.
If the reading is still above 50% on the indexes,
then a pull back or correction is occurring and a rebound is very probable.
I said very probable and not guaranteed
because it is up to the VIX level and whether or not we jump to a panic level.
(If panic sets in
then the panic emotions have to be relieved before the market can resume its trending).
|
Cheese
1,374 posts
msg #146194
- Ignore Cheese |
1/21/2019 2:12:34 PM
|
davesaint86
725 posts
msg #146195
- Ignore davesaint86
modified |
1/21/2019 2:16:03 PM
Thanks Cheese - Marty is where I learned this from. He has since retired. I want to add if one adds the columns rsi(30), rsi(14) and rsi(7) one can can get a sense of what is going on with their positions. If you see something like RSI(30) = 56, RSI(14) = 65 and RSI(7) is = 72, the position will be100% be in an uptrend.
|
Cheese
1,374 posts
msg #146199
- Ignore Cheese
modified |
1/21/2019 2:49:37 PM
Thanks again, davesaint86.
|
shillllihs
6,044 posts
msg #146208
- Ignore shillllihs
modified |
1/22/2019 8:43:49 AM
ron22
116 posts
msg #146177
- Ignore ron22 1/20/2019 4:37:50 PM
davesaint86 & cheese, I do not understand why you would use DMA(7,5) in this or any filter. I personally have seen DMA repaint on more than one occasion. Repainting makes any back test results incorrect. Right?
==============================================================
Yes Ron you are exactly correct about DMA. It does repaint and is useless in its organic form.
There are a couple reasons as to why some swear by it or any other indicator that they like and these are as follows:
1. They were tricked by it at first and do not want to look foolish if they go back on it so they will put up a front.
2. They believed that they figured out a round about way to use it but backtesting would be useful.
Not referring to Dave, his Conners offering was fantastic, just answering Ron on his question.
Perhaps DMA. is nothing more than faith based like Christianity and it gives folks a warm fuzzy feeling.
|
lorenzop
1 posts
msg #146516
- Ignore lorenzop |
2/10/2019 11:20:47 PM
Kevin already put this together - I added the 7th Connors TPS filter to Kevin's work.
https://www.stockfetcher.com/forums/Filter-Exchange/HIGH-PROBABILITY-ETF-TRADING-BY-LARRY-CONNORS-GET-YOUR/93830/-1/93838
|