Correct, but it's worse than that. Systems with alerts which QC thinks provide added value, only help shoot the users in the foot. It's a mathematical consequence. The developers invent many nonsensical devices like Donchian Channels, Bollinger Bands, stochastics, but they're all nonsense and lead to less than what a stock chart provides. The reason why is that they are derived from the same time series data. The underlying belief has to be that you get more out of the data than there is in it. They expect to get something for nothing. So QC designs to fulfill tom foolery that generates superfluous demand and pulls the system down.
This is just like MSFT giving all things to all people and ending up with bug ridden bloat which they never acknowledge publicly. They say, "we're only serving what people say they want". In business you don't give the people what they say they want. You give them what serves the business not what serves public indulgence, and guess what? They come to love you more than they would by feeding them worthless garbage.
But don't ever tell anyone that their MACD, OBV, or RSI, is totally useless. They have to believe in something. This isn't an era of science, but of witchcraft and tea leaves. Science? Their education precludes any such heresy. |
