Let's Talk Technical Analyisis (TA) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Let's Talk Technical Analyisis (TA)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: robnic who wrote (89)	12/12/2001 3:20:14 PM
From: MechanicalMethod	of 178

Yes close reversal of a bar that has thrust represents thrust exhaustion and rejection of the thrust. The technique is adapted from D's BR+TR pattern. Which btw don't have anything to do with tests of top or bottoms although the terms bottom reversal and top reversal sound like they could... they don't. He also calls BR+TR's cpr's for close price reversals. It's value comes from the thrust as an up or down bar combined with a contrary dir close. Since you like weekly charts check QQQ. 11/23/01 upbar during an upswing ...but it's a TR. 11/30/01 downbar... but it's a BR. 12/07/01 upbar. By the time the 11/30 downbar signaled downswing the pullback was nearly complete and close was indicating reverse up ... just like the 11/23 upbar exhausted the upswing as signaled by the close reversal... but only because it combined with thrust that extended a swing. The code I posted skips that 11/30/01 single downbar but only because the close was contrary to the thrust. I don't recommend skipping single downbars when close confirms the reversal.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next