ADX vs RSI

[traider]

ma cross over can show trend. Just work with Moving average and master them is enough

 

[SunTrader]

MACD - trend and momentum.

 

[formikatrading]

I think the operative word here is "almost" (as opposed to "totally"). If you can find the nuances where an indicator is actually useful, then you might have a helpful nugget of information.

No difference. Both are almost useless

 

[traider]

I think the operative word here is "almost" (as opposed to "totally"). If you can find the nuances where an indicator is actually useful, then you might have a helpful nugget of information.

What I meant is they can show momentum or mean reversion. But you must know what parameters to calibrate them with without overfitting. You can do similar things with moving averages. Just know one of them well so you know what parameters to use without overfit

 

[formikatrading]

All good, traider! Thanks for clarifying. I was just pointing out that I actually agree with your comment -- but it's those subtle ways that indicators can be useful that most people seem to miss.

What I meant is they can show momentum or mean reversion. But you must know what parameters to calibrate them with without overfitting. You can do similar things with moving averages. Just know one of them well so you know what parameters to use without overfit

 

[Handle123]

Never found ADX to have any reliable use, RSI best uses for me are for very long use on weeklies and monthlies. RSI on intraday, just do line on close and learn speed of price by angles. Buy low sell high, learn support/resistance, reduces trades, reduces risk and better shot of reward being larger than risk.

 

[MrAgi1]

I used to have hundreds of indicators.
I cut it down to zero.

how to determine when currency / forex is trending?

when there is major news / events, currency will move.
eg when there was Brexit thing, GBP would move.
of course, brexit thing is over.

currencies used to move with stock markets.
when the stock market was up, eur, gbp, aud would go up.

past few weeks, currencies hardly move.
about 10 years ago, currencies moved tremendously.
during those days, it was much easier to earn money by trading currencies.

look at today EURUSD.
it seems like it is trying to beat the record to achieve the smallest day range.

Does news trading still work? How do estimate how many pips an fx pair would move due to high impact news?