Hi Bob,
Why change it to 5? Increases the whipsaw effect IMHO. I use the ADX & +D1 -D1 to confirm the 5 + 21 day ema (or on my hourly time frame the 4+9+18 ema.) in conjunction with the Macd, Slo stock, CMF (for end of day) + the ever elusive candle & pattern recognition. All the above of course, with stocks that have a lot of volume. I think you have every right to be afraid hehehe...I'm always afraid Bob. Right now I'm afraid that I might miss the ensuing rally if I don't get positioned in the "right" stocks. That is why I dumped FN yesterday to buy some tech stocks.
Last week I was too early (by 48 hours !!!! sheesh) & underestimated the strength of the panic selling & hence was stopped out of YHOO & EBAY. Speaking of which, you said ... how about us doing more analysis of the TSE in accordance with the thread header, IMO the TSE is a proxy for the NAZ. (just pull up a chart & compare the 2 over the last couple of years & also note how completely directionless or rudderless the TSE is when it is open & the U.S. markets are closed ie: American holidays)
I can't recall an analysis by anyone on this thread of a purely American listed stock.
Regarding cross-listed stocks, I think that the T.A. intepretation would be much more accurate on a stock that has a lot of liquidity. For example check out the chart on TVX on the TSE stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14] & compare the chart to TVX on the NYSE stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14], now do the same with NT.to stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14]& NT on the NYSE stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14], & finally check out the chart of MCL.to & MCL on the NYSE.
What do you notice? Are their any subtle differences in the charts that may impact on an investment decision? Which one is more accurate?
Hey Bob, check out my post from yesterday Message 15653400 & read the links. What you will find is that others have a differing interpretation of Wilder's ADX. Personally I try to have an open mind about it's use & it's limitations, & I try not to get locked into a set of rules per se. After all, rules are meant to be broken <ggg>
Regards,
Peter
p.s. if the 5 day ADX works for you-- use it! |
