(this by the way, is the only other site I recommend. So I hope Mike does not mind the link. I am not sure what the rules are)
In any event multicollinearty is a statistical term for using different indicators to reveal the same information. In my particular case if you use the same time frame a CCI line fits almost exactly on top of a TSI line. I am getting exactly the same information. Not different information. It is important to know what each of your indicators is really designed to show and to make sure you are getting all the that you want from them.
As I am surely not the only person to make this error, I thought I would pass along the link and the concept.
I have made major changes in my charts because of it.
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Seeing the same thing in a lot of different ways does not add any value.
In addition to the data mentioned in the preceding post, price information based on time frames other than those of the chart master instrument can be very valuable (Visual MA's, etc).
"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
“Lack of proof that something is true does not prove that it is not true - when you want to believe.” -Humpty Dumpty, 2014
“The greatest shortcoming of the human race is our inability to understand the exponential function.” Prof. Albert Bartlett
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