Funny, it was Goinglite's use of CCI that made me look at a deeper level at what I could get out of it. LOL after my last post I realised I missed the obvious one Going mentioned even though I don't use that. Going had a hot way to use CCI and I developed something completely different, but now I don't think he even uses CCI much if at all. His use of oscillators is now refined to the point he doesn't need to watch PA. What Going would say is the strength of CCI is useless to me and my use is pretty worthless to him. He had a problem to solve and I had a different one, so his solution and mine are totally different. That's why I can't say, here is the strength of this indicator. In my opinion it's the wrong approach. Every tool ever invented was designed to solve a problem and sometimes the problem is how to increase efficiency, but without a problem the tool's benefit is diminished. I can't believe that people try to backtest thru 80/20 etc. to determine the efficacy of an indicator. If you believe PA answers everything then there's no problem to solve and indicators can never increase your efficiency. You have topped out in an age of the computer where algos are taking over, but you will nevertheless always have your place and profits because most of the market is dumb money.
Well said. Oscillators are useless in and of themselves. However, oscillators can work just fine in the context of a complete methodology. You are right, I don't trade price action at all. I do use my own oscillators to tell me when to get in.