I'm adept of the KISS (keep it simple, stupid) strategy for almost everything... I've seen a lot of studies using several moving averages and they basically differ on the way they present the chart.
I've realized that BM's "Wave" (inspired on a websouth's indicator) uses the same concept as the GMMA Indicator. So, I'm wondering if the "Big Money" likes to use only two moving averages (instead of many).
The idea is: take the longest long and the shortest long moving averages and backtest them... that's what I did and I got impressive results...
Well, these results were obtained from the shares of the two largest (and heavily traded) Brazilian companies (Petrobras and Vale) using 60Min intraday data. I don't have access to intraday data of American shares, but I would like to know if the Big Money in the US behaves like it does in Brazil. It seems the Big Money really keeps it simple...