Thanks. I'll have to pick up a copy of the book.
If my theory is correct it would not work as well in a less emotional market. For example with the 10 yr, where the impulse to buy on a rising trend would not be as high; but it would work quite well with gold.
Started to play with it a bit; It is deceptive when looking at a chart because it carries future information back in time 3 bars.
The lead portion of the network requires you to do a comparison with price 3 bars back in time.
Looking at Gold and TLT I do not see much of a difference.
One way to get an approximation of the lead portion of the network before the 3 period delay is to look for a negative three period ROC of the 3 ema.
The whole system together reminds me of PGO; Requires you pick your MALengths correctly for
the harmonics that appear in Price signal. Of course hormonics change as participants change....