day-, week- or monthdata?
- Thread starter YozD
- Start date
Generally, the longer the timeframe, the more effective the indicator. But it all depends on the timeframe you want to trade and how you intend on using them. If you are daytrading, then obviously a weekly indicator isn't generally going to be a big help. Although if you are swing trading for a few days, a weekly indicator followed by daily price action or a shorter term indicator can be effective. So essentially the shorter the timeframe, the more you are sacrificing the effectiveness of the indicator. As with anything in trading, it is all a compromise and tradeoff. There are NO hard and fast rules with indicators. The goal is to find what works for you through testing and experimentation.
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When more of them agree the better;
multi-year is real important-bull or bear trend for example.
September tends to be down-red candle;
1978-2002-Active Trader magazine-OCT 03.
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'' In all labor there is profit'' - Solomon, trader king.
It is wise to not use the defaults of the inventors.
Use those recommended by contemporary writers.
If you follow the prior comments you can see why the people are having the concerns they areticulate. The markets in modern times usually are sufficiently faster for defaults of the designers, that "bridging" occurs on the bar durations of choice for trading or investing.
You will know when you have the proper indicator defaults by using the common test. Check your choices with contemporary writer's values.
Your short term trading is easy to adjust for. All the indicators on your list will work.
If you want agood plaeto keep notes on the values you come up with, use Technical Analysis from A to Z, by Achelis. the default in the book are out of date but the descriptions are great because they speak to what the designer intented.
You will soon choose a different trading approach (duration) once you see how the market works. Right now you are going through a process of getting things organized and a little farther down the road you will find that the duration you chose is not too swift.
Use those recommended by contemporary writers.
If you follow the prior comments you can see why the people are having the concerns they areticulate. The markets in modern times usually are sufficiently faster for defaults of the designers, that "bridging" occurs on the bar durations of choice for trading or investing.
You will know when you have the proper indicator defaults by using the common test. Check your choices with contemporary writer's values.
Your short term trading is easy to adjust for. All the indicators on your list will work.
If you want agood plaeto keep notes on the values you come up with, use Technical Analysis from A to Z, by Achelis. the default in the book are out of date but the descriptions are great because they speak to what the designer intented.
You will soon choose a different trading approach (duration) once you see how the market works. Right now you are going through a process of getting things organized and a little farther down the road you will find that the duration you chose is not too swift.