Well, you're probably 10 steps ahead of me. Im still learning how to program in Wealthlab. Have you thought about programming a time and/or price delay into your trendline generator? I've found the natural tendancy of the market is to pullback after a decent move, thus violating the original trendline. Incorporating a time delay or lag before generating the trendline would be effectivily similar to Grobs trendline recalbriation of point three - skipping the first point three entirely and connecting to only the second point 3. If you're not familar with Grob, don't worry, you'll have no idea what I just said. Its worth checking out. The net effect of adding a time delay or waiting until after a major pullback then reversal is a more viable and sustainable slope to the trendline that can better predict the movement while avoidng several short term violations.
Yes, Im pretty much of the same opinion. A real treasure. His confluence theory of price movement - the nexus of long, medium and short terms trends pinpointing the next area of significant movement - is particularly exiting. I still don't get exiting on the left side of the channel though. I haven't read all of his work. Perhaps I've missed it? But the idea of exiting on the left and morons exiting on the right still eludes me? I understand the justification - to preserve and lock in profits before a decline. But I dont understand how a trendline failure can be predicted at the left side after a full traverse from right to left. Since we dont know it'll fail when we're on the left side until its already gone to the right, and then failed. Know what I mean?
1/ Not just that , trendlines can identify dominant price levels 2/ I am light years ahead of Jack as far as trendlines go.. There is no paralel whatsoever.