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What is a good Chop Filter??
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look for Damiani Volatmeter, there is a version of it posted here, it measures what is somewhat like signal to noise ratio and alerts you when the noise is too high.
Another effective technique is to use multiple timeframes, larger timeframes make ranging and consolidation periods much more obvious.
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Originally posted by sefstrat View Postlook for Damiani Volatmeter, there is a version of it posted here, it measures what is somewhat like signal to noise ratio and alerts you when the noise is too high.
Another effective technique is to use multiple timeframes, larger timeframes make ranging and consolidation periods much more obvious.
Another thing to try is the slope of a moving average. If the slope is between -10 and +10 for example, this indicates the market isn't very 'trendy'.
The problem with many of these approaches is that they are lagging and can sometimes filter as many good trades as bad ones.
A more 'predictive' approach could be looking at fibonacci levels on different time frames to see if the market is ranging between levels or is trending.
Overall I think the best technique would likely be one that combines lagging indicators, multiple time-frame confirmation and forecasting using fibonacci/support&resistance.Last edited by Elliott Wave; 03-22-2009, 08:59 AM.
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