Ref: Bill Wormald's book " Trends & TripWires "
A purely Trend Line trading metholodogy , Bill's work ( 2001) seems to me to be a continuation of Anderson's (1960) who picked up where Babson left off during the 1930s .
They all talk about Indexs/ Comd /Stocks trading in a series of Parallelograms .
Where Bill has added the idea all stocks fit into a set of predetemined angles but that each stock has it own set of fixed trading angles -- long and short term.
This is where the Wormald Grid and the Wormald Trend Tracker come in :
They are both clear 4A sized, clear rigid plastic sheets that have the predetemined trend lines finely printed on them --- the sheets can be used either for Paper or Moniter Graphs,--- I find graph paper easier to work with and more accurate though.
The book and the overlays are both needed to understand and apply the method : --- in the book he gives a short list of Ozz stocks and their L/T angles --- on his web site he goes into detail of how the method is applied .
The first chart in this series is a Andrew's Chart --- note NO indicaters of any kind --- pure PRICE ACTION .
I have added the D-G-H Line here to demonstrate the parall with the A-C Line
which is part of the original chart --- note the Median Line , this is similar to what Wormald calls the Spline Line .