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Strategies & Market Trends : TA-Quotes Plus -- Ignore unavailable to you. Want to Upgrade?

To: deep_rough who wrote (8574)	2/4/1999 2:23:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 11149

I wouldn't want to be called a programmer any more than I would a lawyer. Please post your scan formula that takes 20 to 25 minutes. I am sure you have a problem in formula.

To: deep_rough who wrote (8574)	2/4/1999 5:53:00 PM
From: TechTrader42	Read Replies (3) \| Respond to of 11149

Gary: I couldn't disagree more with your statement that the QP2 scanning program is "strictly for the power user." Furthermore, it's not true that "all on this board who sing high praise have programming backgrounds." QP2 scans are generally not difficult to write, and there are many on this thread who have no background in programming and yet excel at writing QP2 scans. They've learned step by step, by reading help files, asking questions on this thread, looking at scans written by others, and working to improve their own scans. The ability to write scans that suit your own trading style and mindset is one of the most powerful tools you can have in technical analysis. QP2 makes it possible to write whatever scan you want, based on your level of experience in TA, and the scans are terrifically fast -- much faster than scans in Metastock, for example. For those with little experience in writing scans, there are plenty of help files on how to write simple scans. There's also a lot of information on this thread. Lots of scans have been posted here and at my Website. I don't think TC2000's data -- or service, for that matter -- are any more reliable than QP2's. TC2000 has had nights when data wasn't even available. Furthermore, questions have been raised about some of the formulas that TC2000 uses in its scans. Have you compared values for stochastics, for example, with those in Metastock? TC2000 uses what might be considered a simplified formula for stochastics. TC2000 no doubt has good reasons for using the formulas it does (even if it's only to increase the speed of scans), but in QP2 you can create scans with the formulas you prefer. Technical analysis, like any discipline, takes a lot of hard work and study. For those willing to spend the time learning how to write QP2 scans based on their trading styles, the rewards can be great. I don't think technical analysis, as a whole, is a discipline that does well with shortcuts. This said, QP2 is making an effort to making scanning easier. Gary Lyben has mentioned that a later release will have a simpler scanning program -- one that makes it easier for beginners to use, and yet preserves the power and flexibility of the program for more experienced analysts. Brooke