My charts (and yours too........)

[jagankris]

Dear Babu and Friends,

There are two ways of analysis one is the classical view and the other is the computerized using various indicators.

I am surprised most of the best analysts prefer the first i.e classical like wolf,Trendlines,Channels,chart Patterns,Candle stick patterns etc.

Can you please explain the advantages of the classical over the indicators.

TIA.

Best Regards,
JK

 

[4xpipcounter]

I think it is what you are personally acclimated to. The indicators I use have a mathematical premise to them, and that is my fortee.
Others don't like using them because they feel they are inaccurate, and very unreliable. The nice thing is the "classical approach never lags and it never repaints. After all if you draw a TL, it is going nowhere. It it also possible to backtest chart patterns, channels, TL's, etc.
I use the stochastics, but you can't backtest it, because it readjusts, so the user has to be careful. This is why I have a mix with that, the ichimoku cloud and my proprietary S&R's. It creates a balance for me.

Dear Babu and Friends,

There are two ways of analysis one is the classical view and the other is the computerized using various indicators.

I am surprised most of the best analysts prefer the first i.e classical like wolf,Trendlines,Channels,chart Patterns,Candle stick patterns etc.

Can you please explain the advantages of the classical over the indicators.

TIA.

Best Regards,
JK

 

[jagankris]

I think it is what you are personally acclimated to. The indicators I use have a mathematical premise to them, and that is my fortee.
Others don't like using them because they feel they are inaccurate, and very unreliable. The nice thing is the "classical approach never lags and it never repaints. After all if you draw a TL, it is going nowhere. It it also possible to backtest chart patterns, channels, TL's, etc.
I use the stochastics, but you can't backtest it, because it readjusts, so the user has to be careful. This is why I have a mix with that, the ichimoku cloud and my proprietary S&R's. It creates a balance for me.

Just regarding the repainting issue alone
It is the way of programming which makes the indicator to repaint/re adjust or not.
Ex - An indicator like Solar wind will repaint but the Fischer version of the same need not repaint.

 

[Romeo and Elliott]

In case anyone else is wondering what 'repainting' is...

http://www.forexfactory.com/showthread.php?t=175559

tc

 

[4xpipcounter]

Exactly, the mathematics associated with the indicator will cause it to repaint.I.e, An indicator that appears like a MA, and changes color with the direction. If within that one candle there is enough movement, then the indicator repaints.
This is what cracks me up. (Newbies, beware!) A lot of these guys that do not know how to trade will try and sell their indicator, then claim all the pips they got. It looks like the indicator behaved perfectly under all conditions. That kind of thing preys on ignorance. The common sense is if all we had to do was look at an indicator and just trade based on colors, it would be too easy. We all would be doing it, and the brokers would all be out of business.

Just regarding the repainting issue alone
It is the way of programming which makes the indicator to repaint/re adjust or not.
Ex - An indicator like Solar wind will repaint but the Fischer version of the same need not repaint.

 

[preethi21]

Today i bought Dredging corp 40 shares @ 423.15 RS Sl 405 risk/trade =1000
any suggestion about my entry?

 

[vinst]

read this indicator based re-painting on several forex forums and it completely baffles me. Any indicator needs the latest bar to be completed. Can the users ignore even this basic requirement and start taking trades with incomplete candles/bars ?

vin

 

[vinst]

Today i bought Dredging corp 40 shares @ 423.15 RS Sl 405 risk/trade =1000
any suggestion about my entry?

Preethi,
can u post a chart for dredging corp entry?

regards
vin

 

[Romeo and Elliott]

Today i bought Dredging corp 40 shares @ 423.15 RS Sl 405 risk/trade =1000
any suggestion about my entry?

If you could kindly provide the NSE code.
&
The reason (what in technicals/fundamentals indicated a buy) for picking it up.

 

[preethi21]

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