cosmoe1 wrote:SignalBender wrote:You are more than welcome.
I think I'm starting to understand. I loaded Tro's TCD indi, Tro_Range indi, also a stochastic set at 6-5-4. I watched it for about 3 hours to see how it behaved. decided to take a buy on E/U and picked up 20 pips in less than 5 minutes. NICE.
Good work! Play with the Input called "AveBars." If you set that one correctly and learn as much as you can about TCD behavior, you should be able to augment your trading by adding the TCD Indicator to your box of tools.
Price has structure. That's TCD Lesson number 1. ATR measures only one dimension of the Price Structure. The TCDs fills out the picture and shows you WHY the structure is what it is. You can use this Indicator for a number of different things. You can zoom out fully and wait for what I call a Black Hole to appear on screen. If you are fully zoomed out, one side of the Indicator will spike and jet out well beyond the TCD Average (either Long or Short). This will typically indicate the need for a pull-back of some duration. This is NOT always an indication of a long-term reversal in direction - but it does not have to be for the stealth Trader. As a stealth Trader, you are interested in collecting pips, on a consist basis and using methods that are mathematically verifiable, quantifiable, measurable and historically reliable.
Remember, this Indicator has its limitations and it was created a very long time ago, when my system was still very young. I have since developed an entire system that goes well beyond TCDs, but the core TCD concept is still an integral component of the system. Even so, there are some very nice Tactical things you can do with this Indicator, after you learn how it behaves in multiple time-frames.