Quote from cashmoney69: This is a weekly chart for NVEC. The CCI is giving reading of over 100 in the area I circled indicating that the stock is overbought, but the stock was trading sideways!.. Can someone tell me what this means? _________________________________ I do not use use CCI, however, what is clear is that the market was in a trading range(diplomatic term for an intense battle for control of market direction between bulls & bears) during that time period. $12 was serving as support & $18 was resistance. The bulls broke above resistance on 7/31/06, which coincided with a new trend in market direction.
Hey SG, Here's a copy of Jimmy Jam's AMABW, it's the little cousin to Oleg's WPR indicator. He said I could post it, so long as nobody actually used it to make money with it.
hahahaha - ROTFLMAO. BTW trader28, good work with your higer timeframe indicator work there. i wanted to post something simple though, so I figured a basic breakout indicator on a 5 minute time frame, with the entries being modified by a 40 simple moving average would do the trick. but i like your indicator, it's simple. simple is cool. best, jj
INDICATORS ARE FOR SUCKERS when it comes to trading. RSI(2) is great for STOCK SELECTION - timing tops and bottoms. But once the trade is on THROW AWAY YOUR INDICATORS and use horizontal lines.
Here dan05. I seriously don't think you should over complicate your system if it is working for you, but here is the thread. http://www.elitetrader.com/vb/showthread.php?s=&threadid=76297&perpage=6&pagenumber=1. JJ
Hi Jimmy, Thank.! I know what you mean. It is working really good. Still, I think it could be better. As you may know, the system has problems with trend days and news days. I'm trying to work on those issues.