Advanced GET

[trendie]

I have just been on a 2 hour esignal webinar.

they did a presentation on Advanced GET.
one of the methods they showed was of a 14,3,3 Stochastics, but with a proprietary add-on called a "false bar".
the idea is to not take a signal when the "false bar" is showing.
( based on the idea that stochastics works in ranging markets, but unreliable in trending markets. the "false bar" tells you NOT to take a stochastic signal.
seemed quite good )

does anyone use Advanced GET ?

can anyone vouch for the False Bar add-ons effectiveness/profitablility ?

NB: they also had a pretty neat "ellipse" which seemed to identify potential areas of retracement, apparently based on Gann. They also showed a MOB ( Make or Break ), a potential take-profit point.

thanks.

 

[LevII]

Yeah yeah.

Will nobody ever understand that if this sort of thing worked its inventor's wealth would put Gates, Buffett and the Arabian oil Sheiks all rolled together into the shade.

If he is having to sell his brainchild for a few $$ then, presumably, it has not turned him into the richest man on the planet.

Wonder if it works?????????????????

 

[ZDO]

trendie,

I have had GET since late 80's before DOS beta ...

To be blunt: Indicator based eWave analysis is subject to the same pitfalls as all other indicator methods - 'recurrring', 'identical' indicator patterns can be created from a wide variety of underlying price action patterns. GET falls victim to this - less than most 'proprietary' packages but...
You said it best above "If the only tool you have is a hammer..."

re: False Bar
imo, (not a statistically founded opinion, btw) , the False Bar is sound.
It is based on range expansion versus time passed in the 'current' waves.
For me personally, for the reasons listed above (I think), False Bar sometimes gets 'mixed up' AND it also starts too early or too late to be relied upon, because False Bar calculations are fixed even when you change stochastic parameters(I'm pretty sure ). In general, I find there are other, more straight forward, ways to 'manage' for when an oscillator is pasted to the overbought (or oversold) wall.

Like with most all indicators in the world (and with False Bar, MOB, and ellipse in this case)
When the instrument and GET are singing the same song, in the same tempo, and in the same key these tools are beautiful and amazing.
When the instrument and Get are singing out of key, etc - like with other indicators in real life, it can get pretty ugly.

In summary - I have no regrets about having GET around, even though the only thing I use it for on a daily basis anymore is the GannClusters. It's obviously not for eWave non-believers and it's definitely not for 'real' wave counters - but for some it's very compatible to their needs and turns out to be a wonderful tool.

hth

zdo

 

[Trdr]

One has to have a clear understanding of EW to utilize AG's EW labeling — which doesn't label how I do, but does give me a second opinion.

Read: ‘Elliott Wave Principle : Key to Market Behavior' by Frost and Prechter as well as other EW authors.

Quoting AG's developer, Tom Joseph:
" About 65% of EW analysis is made up of complex rules which can be dissected in numerous ways. Ten analysts can easily come up with 10 different answers."


Both the Ellipse and MOB targets can be obtained using the fibo tool in most charting programs plus a Time target method. What makes AG so pleasing for me is its ease of use in creating visual targets.

I do think AG has its own trading methodology, different to MetaStock for example which is my realtime charting program and within which one can develop and use any trading method, so one has to learn the 'AG Method'.

"After struggling for a solution, I was finally able to build a simple model using the other 35% of EW analysis that is very clear. Further research showed that the 35% of the rules that are clear contributed to almost 80% of the profits that can be achieved by using EW analysis."
and previous from 'Mechanical Trading System'.