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Strategies & Market Trends : TA Science Projects & Experimental Indicators

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To: ftth who wrote (135)	6/1/1998 2:19:00 PM
From: HeyRainier	Read Replies (2) of 237

Dave, what's your read on overbought/oversold indicators, particularly the stochastics indicator? I've been debating for the past few weeks now if I should boot this little critter from my daily chart indicators (while still looking at the weekly reads) because I have not been getting reliable reads on this one. Upon further thought, it appears to be less useful at key breakout points on the charts, since that is a play I often like to capitalize on. Almost all the indicators I use are pretty much built from some concept I've repeatedly witnessed from the market, and hence, has been more effective for me because it seems to suit my trading and investment style a lot better. Aside from two OMGA proprietary indicators I use, the pre-packaged indicators within SuperCharts such as the stochastics indicator has been less effective for my purposes. I think it goes with the accepted rule that once an indicator becomes widely used, its effectiveness decreases in proportion to that widespread use. Any ideas on the validity of overbought/oversold readings from the stochastics indicator? I think it's time to put together a perhaps more reliable indicator. Regards, Rainier

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