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Strategies & Market Trends : Technical Analysis - Beginners
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To: Big Sky who wrote (7330)12/28/1997 10:06:00 AM
From: Chandler H. Everett  Read Replies (2) of 12039
 
Young Man......You seem to have captured much of the basic (I try not to use the word "fundamental") elements of TA, and I applaud your succinctness and willingness to share. You will find great help and friendship here. Because the nature of my business and personality cause me to look at time frames similar to yours, I hope we can share ideas back and forth in the coming year. I am hosting the third annual get-together of the TA group here in Cleveland this summer (date as yet unknown) and hope you will be able to make it. It will be the most rewarding and educational thing you do for yourself, not because I'm running it, but because of all the people you will meet. The sharing and help are based on the friendships made.

My prime Weekly template is as follows....see if you like it. The formulization is in MetaStock language, so I hope you can read it.

1. Set up the Price window with 13 week Bollinger Bands
2. Set up the next window with a 3 week +DMI and a 3 week -DMI, or PDI(3) and MDI(3) in MetaStock.
3. Set up the next window with the following Momentum formula:
((Stoch(8,3)*.05)+(Stoch(89,21)*.43)+(Stoch(55,13)*.26)+(Stoch(34,8)*.16)+(Stoch(21,5)*.10))....then put a 3 week moving average on that indicator

This gives me the fastest look at the weekly picture. +DMI moving above or below -DMI (they often bounce off each other) MUST be supported by the Momentum formula turning through its moving average.

Happy New Year to all.

Chan
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