Evidence Based Technical Analysis (EBTA)
Objective VS Subjective analisys
Has anyone in this forum read anything related to OBJECTIVE TECHNICAL ANALYSIS?
For those of you who have spent many,many hours backtesting EA's and later finding out that in "real life" (or out of sample) the EA does not perform as "expected", you might find this article by Dennis Meyers (Ph. D.) very interesting and apropos.
http://www.meyersanalytics.com/publications/optsys.pdf
Life is too short (and not as $$$rewarding$$$) to only explore the subjective side of technical analysis.
Best wishes to all.
EBTA FOLLOWER
hi
Hello,
There are now several people (traders) who, like me, use EVIDENCE BASED TECHNICAL ANALYSIS, and utilize methods which can be statistically proven to work in "out of sample" conditions.
I can and will provide more information about what EBTA is, if indeed there is interest here.
For now, all I want is to find out if members of this forum have explored the avenue of trying to code into MQL4, the public algorithms presented over the past several years, by several of the leading researchers in the field of EBTA and Advanced Financial Engineering Mathematics (applied to algorithmic trading of stocks & commodities).
If so, I would like to later post here pointers to where some of these publicly (freely) available algorithms can be found, and perhaps, with the help of the members of this forum, they can be coded into MQL4 EA's.
As I mentioned before, the methods used in EBTA are only those that are objective and can be proven or falsified (statistically).
Many of the algorithms that I am talking about, have been coded into platforms like NEUROSHELL, TRADESTATION and the like, and cost more than a couple of thousand dollars.
Moderator(s), please feel free to indicate to me if this topic has been explored before, and point me in the correct direction.
Regards to all
EBTAFOLLOWERI never heard EBTA before ...Can you give me simple explanation what's EBTA ? How to use it ?
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Optimization and Curve fitting
There are so many scientists (you know, the ones following the scientific method) who work for the "big" banks, many of them as SW developers of high octane "EA"'s, that so many of you are trying to compete against.
Many of these people, scientists, develop rules and algorithms that are implemented as automated trading systems, which in turn are used by many professional traders, in large financial institutions.
Before I go any further.
One great place, that perhaps you have already encountered in your internet browsing, or by following my previous reply, is:
http://www.meyersanalytics.com
and one great paper there created many years ago is:
http://www.meyersanalytics.com/publications/tricked.pdf
Take a look, tell me what you think.
Best wishes.
EBTA FOLLOWER
PS: before anyone hints at it: No I am not selling anything, and I am not associated in anyway, shape or form with that web site, or any other web site, for that matter.
I never heard EBTA before ...Can you give me simple explanation what's EBTA ? How to use it ?
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Forex Indicators CollectionHello, and thanks for your question.
Before I continue, I must admit to everyone who might be interested, I do not read this forum until I get home from work, so please be patient.
TA
=TECHNICAL ANALYSIS
EBTA
=EVIDENCE BASED TECHNICAL ANALYSIS.
EBTA is basically all about applying the Scientific Method and Statistical Inference to Trading Signals.
There are relatively not many books about this, but one good one is by DAVID R. ARONSON (Wiley publishing), entitled EBTA.
Mr Aronson puts it very well when he defines in his book that, for TA to evolve, we must use the Scientific Method to extract useful knowledge from the market data at our disposal, and that the Scientific Method is the only rational way to determine which TA methods have PREDICTIVE power.
He goes further to explain that the Scientific Method is of course not guaranteed to extract "gold" from the market data at our disposal, however, not following the Scientific Method will very likely only produce fool's gold.
I find the research from Mr Aranson and Mr Meyers, among many others, very much in line with my way of thinking, and the reason I am introducing this to this forum, is because I think many here may agree with what they, and many, others propose about how TA must evolve in this era of automated trading.
I hope this helps, albeit preliminarily.
Best wishes.
EBTA FOLLOWER
I am very interested in different analysis techniques. I shall study the references and reply when I have a more informed opinion.
I have always wondered if the Martin Pring KST indicator could be applied to forex... http://www.pring.com/movieweb/daily_kst.htm
Quite effective in trading stocks.
Hi
Hi, I'll be more than willing to help program some ideas. PM me with suggestions.
great to see such thread.
lets try expanding our discussion. 
Nothing special about Meyers system, selling for only $395.00. Yes institution use his systems, but they are not good traders.
Hello,
There are now several people (traders) who, like me, use EVIDENCE BASED TECHNICAL ANALYSIS, and utilize methods which can be statistically proven to work in "out of sample" conditions.
I can and will provide more information about what EBTA is, if indeed there is interest here.
For now, all I want is to find out if members of this forum have explored the avenue of trying to code into MQL4, the public algorithms presented over the past several years, by several of the leading researchers in the field of EBTA and Advanced Financial Engineering Mathematics (applied to algorithmic trading of stocks & commodities).
If so, I would like to later post here pointers to where some of these publicly (freely) available algorithms can be found, and perhaps, with the help of the members of this forum, they can be coded into MQL4 EA's.
As I mentioned before, the methods used in EBTA are only those that are objective and can be proven or falsified (statistically).
Many of the algorithms that I am talking about, have been coded into platforms like NEUROSHELL, TRADESTATION and the like, and cost more than a couple of thousand dollars.
Moderator(s), please feel free to indicate to me if this topic has been explored before, and point me in the correct direction.
Regards to all
EBTAFOLLOWEREBTAFOLLOWER is this thread still alive
Hi EBTAFOLLOWER,
Is this thread still active?
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Hello,
There are now several people (traders) who, like me, use EVIDENCE BASED TECHNICAL ANALYSIS, and utilize methods which can be statistically proven to work in "out of sample" conditions.
I can and will provide more information about what EBTA is, if indeed there is interest here.
For now, all I want is to find out if members of this forum have explored the avenue of trying to code into MQL4, the public algorithms presented over the past several years, by several of the leading researchers in the field of EBTA and Advanced Financial Engineering Mathematics (applied to algorithmic trading of stocks & commodities).
If so, I would like to later post here pointers to where some of these publicly (freely) available algorithms can be found, and perhaps, with the help of the members of this forum, they can be coded into MQL4 EA's.
As I mentioned before, the methods used in EBTA are only those that are objective and can be proven or falsified (statistically).
Many of the algorithms that I am talking about, have been coded into platforms like NEUROSHELL, TRADESTATION and the like, and cost more than a couple of thousand dollars.
Moderator(s), please feel free to indicate to me if this topic has been explored before, and point me in the correct direction.
Regards to all
EBTAFOLLOWER