Ah Bosco I love your posts!!! However most of them still confuse me somewhat. I've spent a lot of time recently commenting on the OGX chart when I should be devoting much more time to my short term trading system development and backtesting efforts. But when people mention new indicators and how they show this and that I can't help myself but fall into an investigative mode to see if there is in fact some value, from a short term systems point of view, in what they have proposed.
Can you provide your indicator setup paramaters please. ADX +_ADI is 20, that's ok. What about the lookback period for Twiggs Money Flow and the "Length" and "Momentum"settings for the Relative Momentum Index indicator. If you provide these settings I am quite happy to setup and post a chart so others can share in what you have discovered/proposed.
I haven't used the RMI indicator previously, but I subscribe to the "Technical Analysis of Stocks and Commodities" publication and it appears that Robert Altman introduced this indicator to the general public in the February 1983 issue of the TASC magazine. I'll download a copy of the article this afternoon. Hopefully it will explain exactly what the "Y"parameter you mention means as well.
Have you performed any backtesting or optimisation on these indicators as applied to spec stocks including OGX. I am happy to do this and post the results as well.
If anyone else is interested in further analysis of the effectiveness of the system Bosco has suggested and its application in spec stock 'bottom fishing' systems let me know as I am still wondering whether it is worth the effort. If I don't get any replies I won't bother following this up.
Add to My Watchlist
What is My Watchlist?