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Indicators Looks like EOT Allas

  #16 (permalink)

Elite Member
Arcata, CA
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: index futures, oil
Saroj's Avatar
Posts: 482 since Jun 2009
Thanks: 223 given, 400 received

Elliott Wave View Post
While I won't deny Allas average is quite useful, I certainly don't think its anything special. For those thinking its something complex like StepMA or NonLagMA, take a look at this screenshot I just made and tell me if you don't think it could be something simpler.

It took me a couple of minutes. Given more time I'm sure I could get the plots to match closer.

EOT's 'proprietary' AllasAvg Vs. a displaced Donchian channel. Which is better? (I'm sure similar results could be achieved with StepMA or NonLagMA, the secret in my opinion is the displacement)

Often I have found myself impressed with some 'special' indicator simply because its methodology is hidden, costs money and has a fancy website and some marketing behind it when the reality is, freely available indicators or even NT's built in ones can achieve almost the same results...

Elliott Wave, what is your displacement setting on the DonchianChannel(70)?

Thanks, Saroj

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