Andre I'm using TC2000 and Supercharts. TC2000 is great. Great price and you can transfer the data over to Supercharts (or Many others as well). I found it VERY easy to learn and it grows with you. I've been using it for a couple years now (used to chart by hand!) and I keep finding new ways to use it. You can write your own formulas etc.
Supercharts is good too. It cost alot more and was harder to load and learn, butI still find it valuble. It is more "intelligent". If you set certain parameters it will alert you to whatever hypothetical situation you set up- does some of the busy work.
The new version also defines Candlestick formations which I find the most valuble of all. I used to spend lots of time trying to interpret all the different formations, but Supercharts identifies them for you. A real time saver. I'm a BIG Candlestick fan, it's uncanny how well it predicts.
When you say a "wrong indicator" I am assuming you're talking about the "contrary indicator" and yes I do use it -ALOT. Yes it can be used on an individual stock. It just measures the "herd mentality". If the herd is bullish, maybe time to start being bearish and vice versa.
Its just an "indicator" though, a "piece" of the puzzle. I use about a dozen indictors to try and put together the puzzle. Trying to predict with just one indicator is like an archeaologist with one piece of pot shard. You can read all kinds of wrong things into it depending on your own biases. Thats why I like Technical Analysis-it takes alot of the emotional crap out of it. I used to agonize over whether it was time to buy/sell etc. Now I have a system and just follow it.
Not that I ignore fundamental analysis, obviously if someone finds a cure for cancer,all the charts in the world don't mean squat. So charts don't always work with things like oil, gold and biotechs unless they are "mature" companys like chevron, barrick gold, amgen etc. and behave in a more predictable fashion. Long answer, but hey, you asked:)
Hope this helps
Keep in touch (try the TC 2000, 29.95, 30 day free usage and money back guarantee.)
Jeff |
