I couldn't find any thread on this so I decided to start one.
Do you use technical indicators at all in your trading?
If yes, which ones and why did you choose them?
What are your rules to decide when to enter and exit the market with these indicators?
What else are you using to make your decisions: For example, news, economic data, nothing?
Thanks for your input.
Is there a way to include a survey in the thread?
I am just learning, I've experimented with some RSI indicators and MACD but the backtesting results to not seem to be consistently good. I'm starting to practice drawing support and resistance levels.
The following user says Thank You to josh892 for this post:
1) Indicators that focus on the choreography or Aesthetic aspects of price action (Trend Lines)
2) Indicators that focus on the Auction process (Market Profile)
3) Indicators that focus on Volume (Volume Ladder)
The following user says Thank You to trendisyourfriend for this post:
Also pay attention to the last post above because its critical to have a purpose for any indicator you do use in your trading . If you are accepting advice then before you employ an indi first understand market context and structure , the where (on the chart) to trade from and into . In other words if you decided to only buy at support when price is closing higher or sell at resistance when price is closing lower - then you decide what indicator defines a good entry according to your parameters .
That way you can avoid the headaches of struggling endlessly with "which indi is best" and "what setting is best" because there is no best .
The following user says Thank You to Eric j for this post: