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Registered User
Joined: 1/7/2008
Posts: 11
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How do I determine the appropriate settings for things like RSI, TSV, Stochastics, etc?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The trainers can't give setting, interpretation or investment advice. I'll move this topic to the Stock and Market Talk forum so other traders will be more likely to see it and comment.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Renay;
Welcome. We didn't mean to ignore you. You'll need to give some info on what you would like to accomplish; your skill level and experience. Some things like that.
Also, if you have not yet, you should definitely visit some of the educational sections of Worden.com.
Please help us with a little more explanation about yourself and your goals.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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As tobydad stated Renay. The important thing is what you are
trying to accomplish.
For a short term trader a STOC with a period of 5 or 10 may
be acceptable. If you want to establish a long-term trend a
period of 100 to 150 may be useful.
(and so on)
Thanks
diceman
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Registered User
Joined: 2/5/2006
Posts: 1,148
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and why would renay need to change settings based on whether he's studying long term trends or short term trends?
why wouldn't renay simply keep the settings constant, and used them in different timeframes, i.e, a weekly chart for a long term view, or daily chart for an intermediate term view?
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Registered User
Joined: 2/5/2006
Posts: 1,148
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renay,
check out wordens nightly "charts with notes". see what settings worden's are using. tc 2000 also comes with default indicator settings. you may also check out some other charting sites on the web, and see what default settings they are using. start there and then study your charts history to see if the indicators are giving you the correct signals. if not, change the settings until the signals are correct.
and also remember indicators, by themselves, are some of the less valuable charting tools.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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"why wouldn't renay simply keep the settings constant, and used them in different timeframes, i.e, a weekly chart for a long term view, or daily chart for an intermediate term view?"
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Well that would be deciding what you need to do and doing it.
However my point was related to lengths in the same time-frame.
Even though you will be changing time-frames you still need to choose
initial values.
I wouldn't consider a 10day, 10week, 10 month
the same as a 100day, 100 week, 100 month.
Thanks
diceman
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Diceman,
Good to see you're still here. I started wondering. As always, good points well stated.
Funnymoney, you've made a good point in suggesting that Renay check out the Worden's chart with notes to see the indicators being used. This is a great on-going tutelage in chart use.
That's my new quick answer to this question.
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Registered User
Joined: 9/22/2005
Posts: 849
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It has been said (and I tend to believe) that all of the information available is in the chart (price and volume). By looking at the chart you can tell if both are tending to go down, up, or sideways and you can see how long the trend has been in effect by changing the zoom level.
Indicators can be useful in determining if the trend is about to change and in which direction. Two indicators I find useful are moving averages and their cross overs and Linear Regression both long and short term.
Keep reading the topics in this forum. I have gotten many nuggets of information about many things here, from new ways to use one of the indicators supplied with TC to some developed by those frequenting this forum as PCFs.
Remember that “The trend is your friend” and if you buy a stock when the rend is down, you are cutting your own throat
As usual, these are my thoughts and should not be taken s advice. You will see this disclaimer on almost all of the posts which describe how he treats a subject.
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Registered User
Joined: 1/7/2008
Posts: 11
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Thank you for your replies. I will read the Worden notes and study the charts.
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