There are literally thousands of trading systems and methodologies out there. It can be challenging to know which ones would be a good fit for your trading style. It’s always a good idea to have multiple indicators or systems that complement each other, rather than rely on one single signal. Getting “agreement” from several systems can bolster confidence in your positions, and give you greater clarity. One system I have found to be particularly useful as a confirming call is the “ETS 2.1 Trading System”.
ETS, developed by Michael Mermer, is a trend-based system, and has been highly rated from many sources. In fact, Futures Magazine rated it as one of the “Top Ten trading systems of all time”. On the developer’s website; traderssoftware.com, they boast some impressive calls in market direction, including a chart that shows how ETS called a clear “Sell” signal before the “Flash Crash”. ETS is also quite versatile. It works on a variety of instruments, including stocks, futures, indices and forex, and performs well for both daily and intraday charts. Personally, I like to use the Expert Advisor and Expert Commentary to help confirm a position and set profit targets. However, the best reason to have the ETS 2.1 system is that it is so easy to use! Here are a few examples:
Altogether the ETS add-on system includes an Expert, two Explorations, two Templates and five System Tests. There are optimizations available as well. ETS is a proven system and its one that I am glad to have in my trading tool set. This is one add-on that every MetaStock user should at least try. I think you will find it useful in confirming your positions and making you a more efficient trend trader.