Stocks & Commodities V. 24:5 (10-14): Letters To S&C by Technical Analysis, Inc.

Stocks & Commodities V. 24:5 (10-14): Letters To S&C by Technical Analysis, Inc.
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Stocks & Commodities V. 24:5 (10-14): Letters To S&C by Technical Analysis, Inc.

The editors of S&C invite readers to submit their opinions and information on subjects relating to technical analysis and this magazine. This column is our means of communication with our readers. Is there something you would like to know more (or less) about? Tell us about it. Without a source of new ideas and subjects coming from our readers, this magazine would not exist.



I would like to comment on Jacinta Chan’s March 2006 article on the z-test (“Trading Trends With The Bollinger Bands Z-Test”). I use the zigzag function for the basis of my intermediate trend-following model. As others have also commented in the pages of STOCKS & COMMODITIES, no matter how you structure your trend and trigger points, there is always a remaining question of the validity of the new trend. In other words, is the active tail real?

Many people have proposed various ways to validate this tail. However, the z-test is the most straightforward, and it seems to work just as well as the others, or maybe better. The MetaStock code I use for this follows...

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