Yes, but a chop in one timeframe can look like a trend in another. It's good to look at more than one time frame if you want to have more profitable trade setups of the same kind.
Rt , the hit rate is so bad that one might be interested in developing a system to fade it. Do you get a chart with signals on it when you test? If so, could you post a couple? thx Steve
Here is a chart of the signals for MSFT. It would be of no value to try the current system as devised on 10 minute data, since the factor of 1/2 % would need to be changed to work with the smaller moves in the 10 minute data vs. 30 minute data. As mentioned this is a trend following system and when the prices chop, it does poorly.
Thanks for your time and trouble 43 systems down maybe the next one will be the one No just kidding, though really, thank you all for your replies. Andy