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AWS_Consolidation for Metastock
atrader100
over 4 years ago
Metastock

Rating:
5 / 5 (Votes 1)
Tags:
trend, Consolidation, metastock

There are many camps divided around the use of trend trading systems.
Some say that trend trading systems are not reliable because they depend on whether you can effectively identify whether the security is either trending or trading sideways.
I agree. My answer to this common problem is my AWS Consolidation formula.
This formula is used as an additional filter for trend trading systems and is very simple.

Rules of use:

1. When the value is > 0.14 the security is regarded as trending and it would be advised to make trade entry decisions based on a trend following system.

2. When the value is < 0.14 the security is regarded as consolidating and it would not be advised to make trade entry decisions based on a trend following system.

I hope this helps.

Cedric Harris

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Indicator / Formula

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STD(Wilders( (HHV(L, 5) - LLV(H, 5)) , 10),30);

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