Candlestick reliability vs AV & DB Message Board

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Strategies & Market Trends : Candlestick reliability vs AV & DB

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To: Frederick Langford who wrote (15)	11/23/2002 1:51:12 PM
From: Win-Lose-Draw	of 16

the experiment was a success, however the result was not especially useful. backtesting showed that DB/AV on individual stocks was not a good indicator. :-( in fact, it was arguably a better contrary indicator than anything else. the one ray of hope was a DB/AV definition limited to reversals around the midpoint. now i'm trying to think of the simplest way to backtest DB/AV across multiple timeframes for $Comp and $SPX. i might also do something like check DB/AV on top-10ish cap-weighted stocks: does the market move Softie or does Softie move the market? in addition, the major candlestick reversals weren't all the reliable, either. am thinking of doing another backtest that looks for the reversal signal AND a confirmation day, even though the signals are rated as having "high" reliability. i wish i had something happier to report.

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