Indicators Looks like EOT Allas | Trading Reviews and Vendors


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Indicators Looks like EOT Allas

  #14 (permalink)

Just starting out...
Vancouver, BC
 
Futures Experience: None
Platform: Ninja Trader
 
Elliott Wave's Avatar
 
Posts: 9 since Jun 2009
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caprica View Post
I don't get why people are fascinated with the indicator debate. Elliot says that this Alas Avg thing is not complex like Stepma. What does that mean or more important why does the complexity matter? It's almost like it is a prerequisite that only complex indicators are worth having.

Everyone needs to remember that indicators are all based on price in one way or another. Some of you guys have posted charts, Todd I think is the name that have two or more indicators that look nearly identical as such the zero line crossing is almost identical. CCI, ECO, these things use different methods but many times have similar results. Haven't you ever noticed all these fancy indicators look the same it's just a matter of how much lag there is built in to the indicator to affect smoothness vs an exact mimic of price.

Not to stray off topic but I just don't get the fascination with why one product is put down and other alternatives of the same thing are so welcome. In the end arent they all the same?

You're right, complexity doesn't necessarily matter for trading, but in a forum called "programmer's paradise", it relevant. If someone wishes to try and code an open-source alternative, they might appreciate a less complex reference point than StepMA.
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Some people believe that using some special proprietary indicator will make them a better trader and the way I see it, if it helps their trading psychology (more important than any indicator), then it does.

On the other hand, others like to fully understand the concept they are trading and the code behind it, that is their psychological 'edge'.

Whatever work's for you.

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