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Details Of Announcement

POSTED ON : 17 Dec 2008 (Wednesday), 12:27 GMT+ 8:00

TITLE : Triple Screen strategy now available on XPertTrader

DETAILS :

Dear ChartNexus user,

We are excited to announce that Dr. Alexander Elder's Triple Screen Strategy and Force Index indicator are available in the latest version of ChartNexus 2.4.1. 

Dr Elder, once a psychiatrist in New York City, is a professional trader and a world-class expert in technical analysis and also the author of two best-selling trading books, namely Trading for a Living and Come into My Trading Room. Dr. Elder developed the Force Index oscillator in addition to his world-famous Triple Screen strategy. 

The Triple Screen strategy combines trend-following indicators and oscillators to analyze all prospective trades in several time frames (weekly, daily) to reduce contradictory signals that tend to appear depending on the time frame analyzed.

The stock market follows three trends, which can be metaphorically represented as tides (long-term trends), waves (intermediate-term trends) and ripples (short-term trends). The Triple Screen strategy operates in three screens. The first screen determines the weekly long-term market trend and direction of the market tide with the help of trend-following indicators, usually the weekly Moving Average Convergence Divergence (MACD) histogram.

The second screen considers daily deviations (waves that go against the tide) from the long-term trend, as indicated by oscillators. Traders are able to concentrate on daily signals that point at the direction of the long-term trend. This presents buying and shorting signals in accordance to the weekly long-term trend. As such, the best of trend-following indicators and oscillators are integrated to make trading decisions.

The third screen of the Triple Screen identifies the shortest-term ripples that move in the direction of the market tide. This provides traders a technique to place stop orders (either sell-stop orders or buy-stop orders), enabling traders to minimize loss.

Alexander Elder's Triple Screening system is a powerful tool that incorporates a series of indicators into a comprehensive combination. It remedies the flaws of individual indicators whilst detecting the stock market's complexity, thus allowing users to cut loss and providing them a higher degree of profitability.

ChartNexus XPertTrader subscribers can now fully utilize the renowned Triple Screen strategy to screen for stocks. Non-subscribers can easily apply for a seven-day free trial at http://chartnexus.com/support/contactus.php#cform.


Always our best,
ChartNexus Team

You may download the official user manual for Triple Screen strategy to learn how to use XPertTrader to screen for the next signal.  Download it here

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