ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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catou1

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towerdog

To: catou1 who wrote (73983)	11/16/2022 5:09:35 PM
From: Sun Tzu	3 Recommendations of 97605

Hi Cat, The answer to your first two questions is: No, these are not anything like Bollinger bands. They are support and resistance lines. As such, they need to be flat, b/c that is what support and resistance is (for now). If/when I get the time to move to more complex indicators, I may consider if we I can draw fibs between moving trains. But for now, I am keeping it simple and going to with traditional meaning of support and resistance. #3 - I don't think I worded my work as being ahead of anyone. I am not trying to compare or compete with anyone. What I think I said (or at least meant to say), is that once I know my support and resistance levels, then I can draw fibs between them.and as the stock moves and hits those fibs, we can see the pattern form. If you think about it, this is not that different than Scott's harmonic system. The fact that the stock reverses course at different levels is suggestive of hitting support and resistance levels. The key difference is that Scott looks at those bounces and figures out where the support and resistance levels are and then projects the pattern, where as I first predict the support and resistance levels and then watch if the stock moves confirms them. A possible advantage to a fast trader is that having that awareness of where the potholes are can help you with an earlier confirmation of the price action. I am developing other tools to go with this faster (and potentially patternless) trading idea. #4 Thank you. I've been meaning to train an AI based on my tools to trade. This is going to take longer than I want. So I am developing a rules based system to suggest buy and sells to the trader who can then use his judgement. But that too is going to take a bit of time because there are so many things that a program misses that a good trader would not. So I am thinking to release the subtools while I build the overall system. Stay tuned and I will be highlighting some key features of my RSI vs regular RSI and maybe do the same for stoch and MACD (yes, I have versions of the most popular standard tools).

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