Hello friends. I attended Dr. Clayburg's webinar, sponsoed by TTM, where he introduced the directional day filter. Here is the link to the webinar:
http://clicks.aweber.com/y/ct/?l=BDK...96LC3h43oVEZ8w
And here is other info about it that was emailed to me:
For the complete, online manuals for the Directional Day Filter,
the Market Direction Indicator and the TTM Real Time Target (RTT)
Indicators click the link below.
http://clicks.aweber.com/y/ct/?l=BDK...Z1keK.aymT7vhg
John Clayburg's Indicator Tips:
You will find links for manual for each indicator on the frame on
the left side of the chart. You will also find links there to a
number of charts which detail the use of these trading tools.
After studying these examples closely, it will be obvious that
there are many ways to interpret them from a trading standpoint.
I find that the most reliable method of using these tools is to use
the Directional Day Filter and the Market Direction Indicator to
determine the major trend of the day. If, for example, 45 - 60
minutes into the trading day the Directional Day Filter and the
Market Direction Indicator are pointing toward an uptrend for the
rest of the day, you can feel confident in taking a long position
at this point.
As you know, entering a trade is only the first half of the equation
- now you need a reliable exit strategy. That's where the Real time
Target indicator becomes useful.
In our previous example of a long position, one can reliably place
a profit target exit on the upper green line formed by the
indicator. The red line drawn below the price bars will serve as a
stop loss point.
My research shows that these price targets are hit on an average of
75 % of the time, making this indicator extremely useful as a
profit taking tool. On the days when the price target is not hit,
the opposite line provides a reasonable stop loss point.
This short discussion is only meant as an introduction to the use
of these indicators. You should first carefully study the manuals
(see link above) before formulating a trading strategy based on
these tools.