PRICE DRIVERS!!!!! -- (As a contrary indicator)
If you could have just one indicator, which would it be?
- Thread starter JTrades
- Start date
I like to to look for:
a) trending-following setups, when price pulls back to an EMA.
b) counter-trend setups, when price is over-extended, and near the boundary of a Bollinger Band.
Hence, my favorite indicators are EMA and Bollinger Band. It is my understanding that trend-following setups are usually more forgiving. If I really need to pick one, EMA would be my choice.
Just my two cents.
a) trending-following setups, when price pulls back to an EMA.
b) counter-trend setups, when price is over-extended, and near the boundary of a Bollinger Band.
Hence, my favorite indicators are EMA and Bollinger Band. It is my understanding that trend-following setups are usually more forgiving. If I really need to pick one, EMA would be my choice.
Just my two cents.
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IMHO, almost any technical indicator can be made at least marginally effective with a really good rule set which addresses entry confirmation, profit targets, and stop- loss levels. My view us that some indicators work better ( and intuitively make more sense of and explain the structure of price action ) better for certain trades and markets than others. And it is a highly personal and preferential choice.
Point being, just choosing a singular technical indicator does not make a trade work. The bigger component might just be the rules you put in place to make that indicator work in the market on a consistent basis. After you do that, then you have to figure out what tweaks you have to make over the long haul to keep your edge.
Simple question, my answer at least is " may not matter as much as you think". Depends on how you use it.
Point being, just choosing a singular technical indicator does not make a trade work. The bigger component might just be the rules you put in place to make that indicator work in the market on a consistent basis. After you do that, then you have to figure out what tweaks you have to make over the long haul to keep your edge.
Simple question, my answer at least is " may not matter as much as you think". Depends on how you use it.
As was mentioned before it depends on time frame. Would be looking for an indicator that would cover price and volatility at the same time like (Relative Momentum Index) - by scan results it holds the first place on daily charts (1 day = 1 bar) at
http://www.marketvolume.com/technicalanalysis/rating.asp
http://www.marketvolume.com/technicalanalysis/rating.asp
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Repeating patterns can be helpful;
not a prediction, simply probabilities.
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PRICE
Indicators = sisters, brothers, Ma, Pa, friends, associates, gardener, cook, butler = thousands = not necessary
Eyes = Price ... reveals all without middlemen
BTI
Jack how are you feeling these days? Hopefully not too much pain. I wish you well.
I am interested to know the rational behind the 30min. Why not the 15m, or another other multiple of 5.
PS- I am interested to see a log, if you be so kind.
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