DislikedBut I read his thread and tried to integrate the things I find useful into my own trading strategy.Ignored
DislikedBut SwingMan's indicator is the best one can get re. drawing tops and bottoms which can be used for both reversal and breakout strategies. I compared them with my manual drawings on several instruments I have been trading and they are very very close.Ignored
Just as an aside -- even if manual-drawn vs indicator-drawn are a bit different -- who's to say which is better to use? Clearly indicator-drawn has the advantages of (a) quick, and (b) reproducible. For manual-drawn to be better it would need to be demonstrated in a trading environment along with an explanation. I've never seen that. The anti-indicator crowd (and "boundless thinkers") simply say it can't be done. I suspect the truth lies somewhere in between -- manual, discretionary trading can yield better results, but at the price of tedious drawing and watching a screen for hours on end. Automated (or partially automated) trading may yield results that are "good enough" -- but you can then spend all that free time walking your dog.
There is no effort without error or shortcomings (T.R.)