My conditions

The higher swing in my indicator, with price failure vs 10/20 close let alone 10/13
is death. RSI system is close enough to a top below zero.

I cannot be long on this indicator alone but can next time it is down in it's channel.

There is not a completed wave in the channel because centerline was not tested.

The macd slope is unsustainable,
price damage that occurs in a bullish kissback move may be shocking. Because
the channel centerline will be way down there.

5 of 3 is probably in, everything I look at is lacking a W5.
This 4 can get complex and take time or head right for the channel centerline.
This is the least reliable and very dangerous place to be in a trading decision.

That green resistance line may be seen later in a larger degree 4, this is not it,
this down wave is not done in this channel yet.

Danger? What danger?.....It is dangerous if you are short......
A chart posted by selecto.....i added couple oscillators....The line is $NDX......
http://stockcharts.com/c-sc/sc?s=$NYSI&p=D&yr=0&mn=9&dy=0&i=p83436675849&r=9485.png

Edited by traderpaul, 02 November 2008 - 11:01 AM.

Tip: With the latest versions of StrategyDesk, you can detach your chart window, from the platform main window. That allows you to press Alt-PrtScn with the chart active, and save to the clipboard just the chart window (i.e., So you won't need to fill over your account number for the post). Also, the buy/sell markers indicate you have a strategy imbedded in your chart layout or workspace file. Nice work. I don't know about your count, but I think we're in a new channel, which is a horizontal trading range. The positive MACD divergence is telling us that the rate of decline has changed. I think you could create a Stochastic of your RSI+System oscillator which would automate drawing it's trendlines.

thanks, will look into it. I havent figured out how to make indicators of indicators in SDesk.

Tip: With the latest versions of StrategyDesk, you can detach your chart window, from the platform main window. That allows you to press Alt-PrtScn with the chart active, and save to the clipboard just the chart window (i.e., So you won't need to fill over your account number for the post). Also, the buy/sell markers indicate you have a strategy imbedded in your chart layout or workspace file.

Nice work. I don't know about your count, but I think we're in a new channel, which is a horizontal trading range. The positive MACD divergence is telling us that the rate of decline has changed.

I think you could create a Stochastic of your RSI+System oscillator which would automate drawing it's trendlines.

Just integrate your RSI+System equation into the formula of a Stochastic. Here's code for the Daily bar Fast Stochastic, plotted on the 5 minute chart. [codebox]{ *** begin- BT Stochastic[StocK,14,3,1,D,0,$COMPX], 5m *** } ( 100 * ( Bar[Close,5,0,$COMPX] - ( ( PriceRangeChannels[Lower,13,0,D,1,$COMPX] >= PriceRangeChannels[Lower,78,0,5,0,$COMPX] ) * PriceRangeChannels[Lower,78,0,5,0,$COMPX] + ( PriceRangeChannels[Lower,78,0,D,1,$COMPX] < PriceRangeChannels[Lower,78,0,5,0,$COMPX] ) * PriceRangeChannels[Lower,13,0,D,1,$COMPX] ) ) / ( ( PriceRangeChannels[Upper,13,0,D,1,$COMPX] >= PriceRangeChannels[Upper,78,0,5,0,$COMPX] ) * PriceRangeChannels[Upper,13,0,D,1,$COMPX] + ( PriceRangeChannels[Upper,13,0,D,1,$COMPX] < PriceRangeChannels[Upper,78,0,5,0,$COMPX] ) * PriceRangeChannels[Upper,78,0,5,0,$COMPX] - ( PriceRangeChannels[Lower,13,0,D,1,$COMPX] >= PriceRangeChannels[Lower,78,0,5,0,$COMPX] ) * PriceRangeChannels[Lower,78,0,5,0,$COMPX] - ( PriceRangeChannels[Lower,13,0,D,1,$COMPX] < PriceRangeChannels[Lower,78,0,5,0,$COMPX] ) * PriceRangeChannels[Lower,13,0,D,1,$COMPX] ) ) { *** end- BT Stochastic[StocK,14,3,1,D,0,$COMPX, 5m *** }[/codebox]

Edited by borland, 02 November 2008 - 11:44 AM.

The higher swing in my indicator, with price failure vs 10/20 close let alone 10/13
is death. RSI system is close enough to a top below zero.

I cannot be long on this indicator alone but can next time it is down in it's channel.

There is not a completed wave in the channel because centerline was not tested.

The macd slope is unsustainable,
price damage that occurs in a bullish kissback move may be shocking. Because
the channel centerline will be way down there.

5 of 3 is probably in, everything I look at is lacking a W5.
This 4 can get complex and take time or head right for the channel centerline.
This is the least reliable and very dangerous place to be in a trading decision.

That green resistance line may be seen later in a larger degree 4, this is not it,
this down wave is not done in this channel yet.

Hi AChartist, thanks for the the informative QQQQ chart and the heads up on the QQQQs.

Cheers,

Bob-C

Of course I'm probably wrong, a centerline test, would setup a rev head and shoulder. If it were to move out of this channel now and hit the green line, the next pullback to enter would be a test to the top of the channel. In any case, the odds are one should not buy until there is a macd kiss. Hi AChartist, thanks for the the informative QQQQ chart and the heads up on the QQQQs. Cheers, Bob-C [/quote]

Thanks AChartist.

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