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Strategies & Market Trends : Technical Analysis - Beginners
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To: Christopher who wrote (10330)5/26/1999 10:34:00 PM
From: Richard Estes  Read Replies (1) of 12039
 
Not offended at all, Chande points out that VHF is more reliable and responsive than ADX. I consider him the best of living TA innovators. He suggest putting a MA on VHF to smooth it when you use shorter periods. I use mid price with VHF rather than close. Most books including Chande, stress futures rather than stocks. I am a believer that while the old classics are available in most programs, they are not responsive to stocks.

The simple cross of 30 or .30 is the measure of trending to me in both indicators. It confirms a trend is in place, now what you do with it depends on other methods for entry/exit. Check WCOM for example on trading zones in both indicators.

In the 31 years of my connection with TA, I have read many books too. It is very important for one to do so. But if my mother suggested an indicator, I sure would test it.
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