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Anyone find any indicators of value? That you wouldn't trade without...?
Anyone find any indicators of value? That you wouldn't trade without...?
Ozquant
Brisbane Queensland Australia
Posts: 220 since Aug 2017
Thanks Given: 167
Thanks Received: 380
Any indicator/filter/measure that gives a binary/boolean result can be useful , unfortunately not many of the common generics out there are any good at this . Way too much grey or lag to be of much use . Indicators can be accurate ways to measure price attributes that can identify repeatable patterns that have a tangible probability attached . I find the best way to utilise indis is to ascertain exactly what i'm looking to measure and build/write/code something to define that measurement precisely . If it doesnt have a real tangible output its doesnt live on my charts . The only generic i use is ATR . If its subjective its not repeatable and testable .. i dont rely on faith , i need facts/evidence
Chart overlays refer to analysis tools that are plotted over the main candle charts (as compared to indicators plotted in separate windows, such as MACD and RSI). Moving averages, Bollinger band and PSAR dots are common examples of such overlays.
I prefer to see it all in one chart window so that I get the general cues all at once. I may explore Ichimoku Clouds analysis in future.
After trying what seemed like hundreds of different indicators i have settled on 2 moving averages and paint bars that reflect an adx value > than 35. These combined with using tick charts provides me the info I need to enter trades on pullbacks. It works very well for me. Finally!
It's not really crossover system. I have a short term EMA and a longer term WMA. When the EMA is below the WMA I know that the market is in a downtrend. The reverse if an uptrend. Then if the adx is over 35 I paint the bars green if an uptrend and then red if a downtrend. Once I have green bars or red bars I look for a pullback towards the EMA and then go long or short as close to the EMA as I can. And then just ride the resumption of the trend as far as I can.
but filter your search to those people who are very successful at this business.
Even then you might not be suited to "trade that style."
One can get in shape by training like Michael Phelps did:
Swim for 6 hours per day and eat 8,000 calories.
Most traders would follow half of Mike's routine: -- eat the 8,000 calories and watch Monday Night Football, LOL
LaissezFaire
Oslo + Norway
Posts: 224 since May 2016
Thanks Given: 224
Thanks Received: 104
Interesting. Thanks for sharing.
LaissezFaire
Oslo + Norway
Posts: 224 since May 2016
Thanks Given: 224
Thanks Received: 104
Does anyone know if there are any auto trend line/channel indicators that are worthwhile?
Specifically, I'd be interested in using them on fast tick/volume charts in addition to slower time based charts.
Currently drawing such lines by hand, but would be interested in an indicator both for automation and perhaps more objective rules for drawing them.
Does such a thing exist?
Ozquant
Brisbane Queensland Australia
Posts: 220 since Aug 2017
Thanks Given: 167
Thanks Received: 380
Its does exist on my Chartware but i cannot access the code for it . It seems to do a job job of it . Probably not a huge help unless you use it , the software is Prorealtime