Posted by timebandit on 23rd of Jul 2021 at 04:12 pm
Here is the definition of PMOBUYALL they got back to me with:
Ticker symbol PMOBUYALL is the percentage of selected broad indexes
and ETFs that are on a PMO Buy signal. The PMO signal changes
for an index when the PMO value has passed through the 10-day
EMA of the PMO
no actually I consider a buy signal early like Tuesday on the
solid strong candle up day vs waiting for the laggy PMO to finally
move its ass - that's been part of my rules for a long time, when
the PMO is at zero but price is oversold and you get a solid strong
up day, you can consider going long early, see the rules on the
chart - been there for a few years
anyway the situation you have now kind of reminds me like what
teh indicator did in early Feb when where the PMO finally rallied
off zero but the market had rallied to new highs - then the market
rallied further and some some sort of wave 3 or 5 a few weeks later
before another correction
my point is when the market is in an uptrend - and the market
has pulled back and the PMO is at zero - waiting for the PMO to
finally respond is just too darn late - that's why I added that
large up candle rule because you are following price action vs only
using a laggy indicator. And I wouldn't bother using this for
entries anyway, best to use your other triggers, it's why I rarely
show this indicator
Posted by timebandit on 24th of Jul 2021 at 03:48 pm
That all makes a lot of sense. I remember seeing that black
candle on Tuesday night and wondering if it qualified as an up
candle. This discussion helps me understand the indicator better.
Thanks for that!
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Here is the definition of
Weird thing is !PMOBUYALL is pegged at zero during a ...
Posted by timebandit on 23rd of Jul 2021 at 04:12 pm
Here is the definition of PMOBUYALL they got back to me with: Ticker symbol PMOBUYALL is the percentage of selected broad indexes and ETFs that are on a PMO Buy signal. The PMO signal changes for an index when the PMO value has passed through the 10-day EMA of the PMO
Also, they gave me the
Posted by timebandit on 23rd of Jul 2021 at 04:21 pm
Also, they gave me the link to the page that describes the PMO oscillator. It was developed by the Decision Point folks...
https://school.stockcharts.com/doku.php?id=technical_indicators:dppmo
For what it's worth, PMOBUYALL
Posted by timebandit on 23rd of Jul 2021 at 11:32 pm
For what it's worth, PMOBUYALL buy signal today with ADX positive crossover and PMOBUYALL white candle
no actually I consider a
Posted by matt on 24th of Jul 2021 at 02:39 pm
no actually I consider a buy signal early like Tuesday on the solid strong candle up day vs waiting for the laggy PMO to finally move its ass - that's been part of my rules for a long time, when the PMO is at zero but price is oversold and you get a solid strong up day, you can consider going long early, see the rules on the chart - been there for a few years
anyway the situation you have now kind of reminds me like what teh indicator did in early Feb when where the PMO finally rallied off zero but the market had rallied to new highs - then the market rallied further and some some sort of wave 3 or 5 a few weeks later before another correction
my point is when the market is in an uptrend - and the market has pulled back and the PMO is at zero - waiting for the PMO to finally respond is just too darn late - that's why I added that large up candle rule because you are following price action vs only using a laggy indicator. And I wouldn't bother using this for entries anyway, best to use your other triggers, it's why I rarely show this indicator
That all makes a lot
Posted by timebandit on 24th of Jul 2021 at 03:48 pm
That all makes a lot of sense. I remember seeing that black candle on Tuesday night and wondering if it qualified as an up candle. This discussion helps me understand the indicator better. Thanks for that!