Fat tails has a Noise indicator but only has certain areas of noise that does not identify all chop zones. Support and resistance shows areas of possible chop and price action going back and forth thru moving averages., where the MA is flat. Alot of people here like the VWAP to show general trend. Just like speparate indicators, nothing works all the time. Super trends is interesting, but using too many indicators over the price action, will only provide clutter. More becomes less.
ALso many bar tails on price bars, shows indecision and weak supply or demand.
I'm not using any indicators at all. Because indicators lag, you are late finding out about chop, consolidation, or whatever you want to call it. You are also late in identifying when chop/consolidation ends. I fought this battle for a long time trying to find an indicator or set of indicators that tells me what I want to know. Finally I gave up several months ago and took all indicators off my chart and put up 5 second and 1 minute charts. I initially started with just a 5 second chart and squeezed it together. That was helpful but I would get bogged down with the detail. So, I added the 1 minute chart to help me see a bigger picture and then at a point later added a 30 minute chart. Using this set up, I can see when these consolidation areas begin to form and when pressure begins to build up causing a breakout of that area. I'm still pretty new with this set up but am liking it a lot. Takes a good bit of time to get used to looking at the 5 second but the time I've spent at it has been worth it so far.
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