Excellent Indicators to daytrade the ER

Quote from Cazza La Randa:

Another interesting indicator should be the ADX

Take a look how it works fine with the Dax future, quite similar to the ER2
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HI Cazza,

do you still (paper?) trade the DAX with your system ??


Charly
 
Quote from Cazza La Randa:

This is an example

You can set all the parameters and time frames as you want

Avoid to trade in choppy hours

Best
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The chart looks good and clear. I can see it really good. Thank you for sharing.
 
Quote from Cazza La Randa:

Another interesting indicator should be the ADX

Take a look how it works fine with the Dax future, quite similar to the ER2
More...

I don't think the ADX reaches above 50 too often like you recommended in your image. Mine never does.

You said to take profits if ADX reaches above 50. My ADX stays around 25 to 30. Never goes higher. I have mine set at the same 14 as yours. I guess everybody's software is different. :confused:
 
You may have an adxr (averaged adx) rather than a raw adx.

If there are 3 inputs rather than 2 thats a dead give away (try setting the last one to 1 to create a real adx)

Also shorter timeframes (like 1min) will create higher adx values than 3m or 5m
 
Quote from SarahG:

I don't think the ADX reaches above 50 too often like you recommended in your image. Mine never does.

You said to take profits if ADX reaches above 50. My ADX stays around 25 to 30. Never goes higher. I have mine set at the same 14 as yours. I guess everybody's software is different. :confused:
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Mine doen't work either that way.
Pity - would love to have such a tool- thats all you/I need for trading.

Charly:(
 
I like the way you are thinking, price action is key IMHO. Can you post a chart or two showing a few of your trades and how your money management would show you consistent profits even if just taking random entries ?

Cheers :D


Quote from TheRumpledOne:

Who needs indicators?

Indicators are for suckers.

Indicators fool people.

If indicators really worked then we would all be rich because of them!

Pick a price, any price. Prices ending in 00, 25, 50, 75 usually work best on any instrument - PSYCHOLOGY.

Draw a horizontal line.

If price is about to cross above, go long.

If price is about to cross below, go short.

HINT: Don't go long on a red candle and don't go short on a green candle.

Sometimes, you take a small quick profit and sometimes you rake it in.

Trading is simple.

Indicators take you one or more steps away from the only thing that really matters... PRICE!

After you stare at the chart long enough, you'll understand what I am talking about.
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Would someone be able to post the
(or drop it via PM)

Linear Regression Indicator formular -
Tradestation version -

Thanks - highly appreciated

Charly
 
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