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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (9134)	2/2/1999 6:32:00 PM
From: keith massey	Read Replies (2) \| Respond to of 12039

TraderAlan, I agree that common indicators like 12-26-9 MACD are useful and often very often self-fulfilling. When I was talking about pre-programmed analysis I was referring to the built in analysis programs that come with a program that often don't even mention the indicators they are using. The just provide buy and sell arrows on the graph and give the set of indicators used to create the buys and sells a fancy name (often named after themselves). I also use a couple of Metastock scans to find basic patterns such as flags. However, as you already mentioned there is a lot of noise. With the Metastock scans I am using now I normally get 100 or so charts. When I flip through these only 20-35% have the true formation I am looking for. Best Regards KEITH