When reading a particular thread I usually save quite a few charts and print out posts. I also pay close attention to any new indicators to determine whether they really are 'new'. As an example, one indicator that is thrown about all over the web is the CCI which is just the price relative to an X period SMA (I've seen charts that have numerous CCIs and SMAs which proves that people are just fooling themselves).
In any case, I had a look at the CII and the EMA Angle indicators. The CII is pretty interesting and the 'signals' it gives off can be very useful when used with sensible MM techniques. The EMA angle indicator looked very interesting to me at first sight because I had been looking for exactly that for about 3 months before I saw it posted here. Upon testing different indicators to decide which one to use for longer term divergence, I discovered that this indicator paints the a picture very similar to MACD's histograms with default settings* do. This is true for EMA 30, 40 and 50; I haven't tested other periods. This is not to say that this indicator is useless, but rather to point out that if one is using a trading platform that doens't have the EMA angle indicator, one can just as well use the MACD histograms. The histograms for EMA angle and MACD differ to some extent, but they are similar enough to make MACD a viable option for detecting divergence (I guess we all knew that before, didn't we? MACD is the default tool for detecting divergence.).
*The default is 12,26,9. On the chart I posted I changed the color of 9 to 'none' so that the squiggly line isn't visible.
Chart attached (30 EMA angle; MACD 12,26,9; 50 EMA angle)
In any case, I had a look at the CII and the EMA Angle indicators. The CII is pretty interesting and the 'signals' it gives off can be very useful when used with sensible MM techniques. The EMA angle indicator looked very interesting to me at first sight because I had been looking for exactly that for about 3 months before I saw it posted here. Upon testing different indicators to decide which one to use for longer term divergence, I discovered that this indicator paints the a picture very similar to MACD's histograms with default settings* do. This is true for EMA 30, 40 and 50; I haven't tested other periods. This is not to say that this indicator is useless, but rather to point out that if one is using a trading platform that doens't have the EMA angle indicator, one can just as well use the MACD histograms. The histograms for EMA angle and MACD differ to some extent, but they are similar enough to make MACD a viable option for detecting divergence (I guess we all knew that before, didn't we? MACD is the default tool for detecting divergence.).
*The default is 12,26,9. On the chart I posted I changed the color of 9 to 'none' so that the squiggly line isn't visible.
Chart attached (30 EMA angle; MACD 12,26,9; 50 EMA angle)
If you don't risk, you don't ever have to lose.