After a long gap, I am posting
another AFL here. This AFL is known as Butterworth Trending system. The basic
purpose of this system is to identify buy or sell signals that carries a high
winning ratio. This AFL is most suitable for delivery-based trades and strictly
not for intraday trader.
Before deploying this AFL, I
request the trader to study the charts generated by the AFL. Because this
system is good as a trend indicator rather than a buy sell generator. Therefore
using this system along with another system to enter trade is advisable. Since
long-term goals are looked for with this AFL, I would suggest that use of
weekly or monthly mode in the chart patterns.
It is always better to use
another indicator along with this trading system. I also would like to suggest
another AFL - Stochastic Momentum Index (download from here) that can be used
along with this AFL. The suggested settings are look back of 35 smooth I of 3-
smooth 2 of3 and the signal also at 3. Combination of these two AFLs (plotted
separately on the chart window) could give out an early alert to the trader.
The trader must study the system well and develop a trading plan. If cleverly
used, this AFL is bound to bring in some profits.
I am not the creator of the AFL
mentioned here The AFL has been coded by R.Rajandran of Marketcalls, who is
doing an excellent service to the trader community. All credits goes to him.
Happy trading and good luck.
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