Pfizer Inc. (PFE) Chart using Doda-Donchian
By admin on Nov 28, 2010 with Comments 2
You can use Doda-Donchian indicator not only in Forex market but also in stock market. I'm giving you an example chart of Pfizer Inc. listed in NYSE.
The indicator gave Sell signal on 4th Nov. 2010 @17.33, when the price closes below the Doda-Donchian line and from there it moves downward daily. On last trading session, it closes on 16.47, resulting in about 5% profit in less than 1 month. The chart is still in its downtrend movement and will move further down.
The same indicator gave Buy signal in its last bull run (not shown in chart), but you can easily see that the price was trading above Doda-Donchian line in that period.
Share your doubts and feedback in below comments section.
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Nice trade… please explain, why you did not take the first signal six bars before! Price closed below an ran up again… stopped out the very next candle.
Thanks for your efforts!
Yes, that was the first sell signal. But just after that, the price closes above Doda-Donchian line and gave Buy signal. In other words, we can say that was a false signal. We can’t avoid such false signals in any indicator. The use of strict stop-loss is the only way to minimize such loss.
Hope it will help you.
Admin