This is simply a system that is sold under the name "Reversal Magic" along with a couple of other techniques. I think when you use it routinely you will find that it is best to combine it with other types of studies, rather than use it in a "vacuum."
Bill ----- Original Message ----- From: bilbo0211 To: [email protected] Sent: Saturday, June 28, 2008 10:21 PM Subject: [amibroker] Re: Predicting future turning points. Hi Dennis, I think you missed the point of the CIT indicators. This is strictly a time based indicator it is not a S/R point. It points to a specific bar on which the trend should change direction. The point where the 'trend' lines cross is usually not very close to the price. It usually points to the exact bar where price changes trend. That is why I said "it must be tapping into some underlying market symmetry or cycle". Look at the 3 examples drawn on the current NDX daily chart pointing exactly to 3 pivot high bars (black lines) on the file I just posted in the files section (changeInTrend1.png). Bill ------------------------------------ Please note that this group is for discussion between users only. To get support from AmiBroker please send an e-mail directly to SUPPORT {at} amibroker.com For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG: http://www.amibroker.com/devlog/ For other support material please check also: http://www.amibroker.com/support.html Yahoo! Groups Links ------------------------------------------------------------------------------ No virus found in this incoming message. Checked by AVG. Version: 8.0.101 / Virus Database: 270.4.3/1524 - Release Date: 6/28/2008 7:42 PM
