Doug
The exhaustion engine is something developed in EasyLanguage for Tradestation, and produces a Radar Screen display for 3 timeframes (1,5 and 10 minutes).
It is based on a cyclic indicator called the MACCI, which is a 5 period moving average of a 6 period CCI.
The way it works is that when all 3 timeframes are showing overbought or oversold conditions, then the move is potentially exhausted. Overbought and oversold are represented by +/- 100. Instead of using Radar Screen this technique could be used on charts.
As for trend confirmation this again uses the MACCI in multiple timeframes. Being a cyclic indicator the idea is that when a number of timeframes are showing that their MACCi's are heading in a particular direction, then you have trend confirmation. In this context the MAcci is often used on charts, although it can be used in radar screens. The timeframes to be used will vary with your own trading timeframe, but even for scalping is is not unusual to be looking at timeframes from 1 minute up to Daily. e.g. 1,3,5,10,30,60 mins, Daily.
Radar screens are particularly useful when you are watching a number of stocks, say 10-40, alongside watching the market itself for general direction (Dow).
This forum has more or less died a death since the originator (Grey1) left, but there's plenty to look through if you are keen to learn. One note of caution though - whilst the forum is about technical trading, this cannot be used in isolation, as Grey1 would tell you. You have to learn to understand what is driving the market each day (market fundamentals/news/announcements) because the market is not always technical as far as indicators go. There are times to use technical methods and times to stay out of the market.
If I say much more I'll ending up repeating all that was said during 6 years and more of Grey1's posts !
Glenn
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