Posted by robbief111 on 24th of May 2022 at 02:38 pm
More noodles. Thanks for sharing that idea! I tweaked it a bit.
Hope the chart is viewable...........
I used a smoother version of the SPY/UDN weekly close price
(not displayed) as: ZL = 2*FAVG8 - AVG8
That's 2 times a weighted average of 8 and subtracted an
average 8.
NOTES:
1. I don't know if this can be done in Stockcharts. I used
TC2000.
2. It's just an indicator, not a system.
3. It will not do well during a consolidation.
4. The bottom indicator shows when the smoothed RS line (ZL)
was > EXP3
Posted by timebandit on 24th of May 2022 at 03:01 pm
Wow, I like that!
I agree insofar as I use it: not a system. I should have said
that. I have simply been monitoring it, and yes, use it as an
indicator. I do believe the fellow who shared it with me uses it as
part of a system, but he did not get into that.
I suggest with anything like that - during trending times use a
whipsaw confirmation filter to filter out the noise - then don't
use it to confirm a new entry after a zig zag abc pullback has
occurred
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More noodles. Thanks for sharing
SPY/UDN Weekly Chart - someone showed me this a year ...
Posted by robbief111 on 24th of May 2022 at 02:38 pm
More noodles. Thanks for sharing that idea! I tweaked it a bit. Hope the chart is viewable...........
I used a smoother version of the SPY/UDN weekly close price (not displayed) as: ZL = 2*FAVG8 - AVG8
That's 2 times a weighted average of 8 and subtracted an average 8.
NOTES:
1. I don't know if this can be done in Stockcharts. I used TC2000.
2. It's just an indicator, not a system.
3. It will not do well during a consolidation.
4. The bottom indicator shows when the smoothed RS line (ZL) was > EXP3
Wow, I like that! I agree
Posted by timebandit on 24th of May 2022 at 03:01 pm
Wow, I like that!
I agree insofar as I use it: not a system. I should have said that. I have simply been monitoring it, and yes, use it as an indicator. I do believe the fellow who shared it with me uses it as part of a system, but he did not get into that.
I suggest with anything like
Posted by matt on 24th of May 2022 at 02:43 pm
I suggest with anything like that - during trending times use a whipsaw confirmation filter to filter out the noise - then don't use it to confirm a new entry after a zig zag abc pullback has occurred