Reading a chart with a trading system
If I have to use one or two trading systems, that is how I prefer to view it
I like to see a clear chart first, focusing on trend, support/resistance levels.
Then I check below where price stands vis à vis most trading systems (note that I used the 13/50 EMAs crossover, but I could have used other pairs, 5/50, 50/200, etc …)
Then I use a key ingredient, price vis à vis its 200 EMA (overbought/oversold)
What is the PPO ?
The Percentage Price Oscillator (PPO) is a momentum oscillator that measures the difference between two moving averages as a percentage of the larger moving average.
Read about it here on the excellent chart service (Stockcharts.com)
Source: http://gicharts.blogspot.com/2013/07/reading-chart-with-trading-system.html
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