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Generally, with any indicator I will start with the default settings, no matter what the timeframe. If, after experimentation, I decide I like some other settings, I will always apply them equally to every other timeframe as well. So I have no settings that are different on 1-minute compared to 5-minute charts, for example.
For example, the default for MACD is 26/12/9 -- meaning, the difference between a 26 and a 12-bar EMA, with a 9-bar EMA as a smoothing average of the difference.
If you just put this on a chart, and then put up indicator plots with different settings stacked below it and compare them, you will quickly get an understanding of how they differ. Basically, if the EMA's are shorter, the resulting MACD plot will be less smooth and will change more quickly as price changes. So it will be more short-term. You could try it with longer EMA's than the default, and then it will be smoother and will respond to longer-term changes. The best advice is simply to plot a few variations and see which is most helpful to you.
As to the original question of which is best for a particular time period, just try it and see. Whatever gives you the most insight into price movements is best. For me, the particular timeframe of the chart does not change anything at all. I use the same settings on a 1-minute chart as on a 30-second chart, or a ten-second chart (yes, I use this), or a 5-minute chart, or a 60-minute chart, or a tick or volume chart with any setting, or with a daily or a weekly chart. The reason is that you are trading the bars on a particular chart, and any indicator that is derived from those bars gives some window onto the price action of those bars, and those bars only.... each chart is complete in itself, but you will find that the same things happen on one chart as on any other. If you took the time scale off a chart and tried to deduce what its time period was based on how price acted on it, you would not have a clue whether it was a 30-second chart covering a few minutes or a monthly chart covering several decades. But your MACD (or whatever you use) will work the same way....
The same ways of slicing up and analyzing the price movement, if you only focus on the chart and not on any outside events, will work the same regardless of timeframe.
So the answer to your question is that there is no "best" setting. Use what helps you make sense of the price movement and what lets you trade it well. Experiment to see what changes as you change the settings.
Most likely, you will find that your indicators will look the same on each timeframe, and there is no tuning of the indicator to match the chart timeframe that will make much difference.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
This is just personal belief but I think of markets price action irrespective of the timeframe, if indicator is giving good output on one timeframe, its fairly likely that it will give good output on other tf's of same script.
However, what I'm greatly concerned with is what settings work better in what volatility condition. An extremely high volatile instrument might clean you out with same settings that you made lot of money on same script before it became volatile. Here is cheat code hint: this is why generally trading based on just indicator signals can be inconsistent and takes lot of experience.
Don't mistake this as me saying "time is not important", it is! Just not the usual "timeframe" thing.
Just my 2c. I'm noob too so I'm often wrong, be warned.
Yo considero qque si vamos a dar comentarios que sean objetivos y que se agradezcan! esta comunidad es para crear un valor.
Saludos.
Mis mejores deseos a todos.