I was just looking through the MLX threads and found your post. Not that many people talking about Guppy techniques on HC I don't think. Anyway I thought I might add a bit to the discussion.
Guppy doesn't actually use his CBL method anymore, not exclusively anyway. I think they use a method that accounts for volatility a bit better. I call it the ATR trailing switch indicator. Its drawn on the chart below as a thick black line and is a 1 ATR trailing long and (or) short stop that switches from long to short depending on the price action. The rules are to wait for a trailing stop switch followed by a price action confirmation in the following period (i.e. a higher High and Close for example). So you can see that at point "A" the switch wasn't confirmed and the direction that was down from 23/01 hasn't as yet changed.
I hope you can see how well this trailing stop volatility adjusted switch indicator works with MLX (up until now anyway).
I currently hold MLX and I am hoping that the next swing up starts soon. The switch indicator is coded in Amibroker Pro. Happy to share the code if anyone is interested.
MLX Price at posting:
87.0¢ Sentiment: Hold Disclosure: Held
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