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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: Richard Estes who wrote (2833)10/13/1997 7:51:00 AM
From: Jan Robert Wolansky   of 3325
 
Richard, thanks for the good idea of system testing with or without certain indicators. I will readily admit that there is duplication among my indicators: a stock with an RSI(89) of 50 or more will usually have a PVT greater than its 40 day average. The reason I use PVT is that I have it cover the shorter time period to make sure I don't have a stock that's losing momentum. I added in the positive/negative indicator after I had entered a stock which proceeded to slowly go down. I examined it and saw that its positive volume index was less than its negative volume index despite having a high RSI(89). Chaikin money flow I have set for 21 days: again a strong stock will most likely pass this test; I have it in to make sure that the stock, despite having a strong trend over 89 or 40 days, hasn't started to wilter over the last month or so. By having as many indicators in my scan as I do, it wittles my database down to 5-10 stocks each night, which I then look at in more detail, eliminating all but one or two which I ultimately pick.

I will be the first to admit that my system can be improved, and look forward to additional discussions with you and Andy, and all the others who have much more experience than I have (Richard, you may recall some 6 months back that I used to focus on bottom fishing).

Thanks! Jan
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