ARTICLE SYNOPSIS ...Time-based techniques are effective and can be applied to intraday trading, but unless they are automated, they require a great deal of tending and tracking on the part of the trader. The Fibonacci and Lucas techniques, which we explored in the previous issue, can be mechanized (as seen in that article), but they will not continue to plot without further input. This is also true of William Erman's Ermanometry, which we will look at later in this article. Meanwhile, Thomas DeMark's TD Sequential can be automated without requiring further input, as we will see here....
ARTICLE SYNOPSIS ...It's fair to say that technical analysis has made its biggest strides in relation to price-based forecasting rather than time-based studies. Moreover, when time-based techniques are developed, they are applied to higher time frame charts. The result is that the intraday trading context has seen little exposure to time-based forecasting techniques comparable to higher time frame approaches such as the delta system, the spiral calendar, and Ermanometry....