Daytraders, When was the last time you stripped down to a naked chart and traded without indicators?

KCalhoun said:
The only thing on my daytrading charts are 1minute candles and volume. I also use the tape.

All that matters is price action.

I was going to say that "anybody using squiggly lines or indicators like vwap/ema for daytrading is a fcking moron", but I hesitated lol :D

Here's an example, sans text, just price and volume. Hint if you need indicators on charts for decision support you've already lost.View attachment 233722
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Great setup and trade.
 
On the same subject there is a book called "Naked Forex: High-Probability Techniques for Trading Without Indicators" by Alex Nekritin.
A so-so book in my opinion but that's another story.
 
I have charts where I don't even have price on the screen.

It's just Wilder's, LRMAs, and Kaufman's AMA.

Indicators are useless? Really don't get where you come up with this stuff.

VWAP is everything.
 
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I'm on the other side of the fence on this one... I started with chart patterns and naked charts but only became successful after I started using indicators.

Incorporating indicators into entry and exit decisions using thoroughly backtested rules added the objectivity that I needed. Every positive expectancy system I've ever created uses at least two indicators (ATR plus one other) and one strategy uses five indicators.

And I'm not ashamed...:)
 
Slope Trader said:
Incorporating indicators into entry and exit decisions using thoroughly backtested rules added the objectivity that I needed
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Granted, indicators do add objectivity to the trading process, but pure price action signals can also be generated with 100% objective rules too.

For example, buy 20-day breakouts, 3 day low stop (and vice versa for short positions).

See, no indicators, and yet the rules are clearly defined in this simple example.
 
Tradex said:
Granted, indicators do add objectivity to the trading process, but pure price action signals can also be generated with 100% objective rules too.

For example, buy 20-day breakouts, 3 day low stop (and vice versa for short positions).

See, no indicators, and yet the rules are clearly defined in this simple example.
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Great point. For example I look at prior day's trading range, depth of cups, and open range breakout, none of which use derived indicators.
 
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