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Strategies & Market Trends : KEEP IT SIMPLE TRADING
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To: mistermj who wrote (151)1/25/2004 7:52:50 PM
From: Michael Watkins  Read Replies (1) of 321
 
The swing chart uses a proprietary algorithm developed by the founders (I am one of them) of TrendVue.com ( trendvue.com ) - formerly IntelligentSpeculator.com - which uses price alone to determine when a swing has ended and a new swing begins.

It may look similar to "ZigZag" and other such swing plotting approaches but it is quite unique.

How much? Free. We are about to unleash eSignal and Tradestation versions of TrendVue Classic Swing to the public. The algorithm remains private but the tool may be freely used. www.trendvue.com will have details in the not distant future. Teresa Lo, my partner, has an interesting article in the Feb issue of Technical Analysis of Stocks and Commodities magazine (www,traders.com) which discusses the approach. An abstract can be found here: traders.com

I'm a former "systems" trader myself and have some feel for the thinking that you must be putting into your KIST approach.

Trading every swing direction doesn't back test very well all on its own - not in my experience anyway - but if you trade only the direction of the prevailing trend, you might find your results jump off the page. The trick of course is to detect when a trend is in play, and when it is not.

You might try looking at what the weekly trend is (are the swings higher highs and higher lows or not) and then trade only swings in that direction.

Certainly when you look at the weekly chart it becomes a bit easier to detect whether a trend is in place or not.
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