Thanks for participating. Good to find out I am not the sole purveyor of DiNapoli's work. I use Tradestation. Been down the WOW, Metastock, Omnitrade route..can you say KaChing$$. I ended up with TS because I wanted to system trade and Metastock was frustrating me to that end (WOW has better scans), now I find myself doing the subjective side. Metastock is more refined and has all the gee whiz indicators, but even before the book I found myself going back to simpler trading. Mostly channel breakouts using price and my favorite indicator OBV. With TS I can do all of DiNapoli's variations of indicators and it also has a retracement drawing tool that will allow inputs of the ratios.
As far as system scans, the only alerts I have programed are weekly MACD and crossovers of the weekly Detrended Osc. with overbought and oversold levels that I have manually set for every stock (eyeballed horizontal lines). What was interesting was how easy it was to set those levels. Each stock had its own unique levels that were very consistent. But as far as scanning, I have found myself manually reviewing the weekly and daily charts. I set one window with the weekly data and the 25x5 MA, 3x3 MA, weekly MACD/Stoch, and Detrended Osc.. Another window window with daily data, 3x3,7x5,25x5 MAs, daily MACD, and the daily Detrended Osc.. I then flip through each chart showing both daily and weekly at the same time.
I like the practice and it helps me understand the Directional Indicators better. Like he said in the book, if it was easy to program every one would do it. This system is work, but I think for those who follow through it is for the better.
My new rallying cry: "Remember Context!" |
