Indicators/other ideas that help predict levels.

semperfrosty said:
Hi guys,

Hopefully the subject line makes sense.

I'm looking for tools or ideas to confirm whether levels will hold.

The levels I look at are either turning points or what I call 'accelerators'.

I was wondering,for anyone who successfully uses RSI,Stoch or MACD for example,how I could/should read these to add to my determination about said levels?

Other clues outside of traditional indicators welcome.

Cheers,
More...

Variations on Initial Balance. Sessions for time based, Footprints/volume profiling. OHLC, gap imbalances of various distinctions. Liquidity zones of various types; DOL, BSL SSL, REH, REL,..
Ranges; DR/IDR, DRCs, StdDivs..
BMs, BO,TIs
Measured Moves
Fibs

The tools you mentioned are derivatives of price/time and are a coarser view of market generated information. You would have to begin logging bar-by-bar to see the relationships.

A simple start is mapping out various swings in market structure in three timeframes.

A google search would pull up some of the others.

Starting a glossary and a question log is a good idea. Incorporating a PKM would make the process easier.
 
semperfrosty said:
Hi guys,

Hopefully the subject line makes sense.

I'm looking for tools or ideas to confirm whether levels will hold.

The levels I look at are either turning points or what I call 'accelerators'.

I was wondering,for anyone who successfully uses RSI,Stoch or MACD for example,how I could/should read these to add to my determination about said levels?

Other clues outside of traditional indicators welcome.

Cheers,
More...

I think S/R is mostly random. Why do you think people push for high r:r? Because it's unreliable, so they need to skew their results to make up for that.

You want to predict levels? Open a chart, hide the price, then draw random lines. I can guarantee you at least 50% of those lines will be significant with time.
 
He Spermforest, you heared about Google before? The internet is full of knowledge regarding your thread. You can also study my thread a bit(F.Factory). My game is all about your silly questions. Make sure you understand this topic well before you even think about real time trading :)
 
despichtt said:
He Spermforest, you heared about Google before? The internet is full of knowledge regarding your thread. You can also study my thread a bit(F.Factory). My game is all about your silly questions. Make sure you understand this topic well before you even think about real time trading :)
More...

Didnt knew you were that much of a freaking rooky lol

homo.jpeg
 
Last edited:
despichtt said:
He Spermforest, you heared about Google before? The internet is full of knowledge regarding your thread. You can also study my thread a bit(F.Factory). My game is all about your silly questions. Make sure you understand this topic well before you even think about real time trading :)
More...

despichtt said:
He Spermforest, you heared about Google before? The internet is full of knowledge regarding your thread. You can also study my thread a bit(F.Factory). My game is all about your silly questions. Make sure you understand this topic well before you even think about real time trading :)
More...

You're banned from Forex Factory.

I can imagine how useful that thread would have been! haha
 
semperfrosty said:
Hi guys,

Hopefully the subject line makes sense.

I'm looking for tools or ideas to confirm whether levels will hold.

The levels I look at are either turning points or what I call 'accelerators'.

I was wondering,for anyone who successfully uses RSI,Stoch or MACD for example,how I could/should read these to add to my determination about said levels?

Other clues outside of traditional indicators welcome.

Cheers,
More...

It somewhat depends to some extent on what markets you trade, what time frame you have in mind, and how aggressive/conservative you want to trade at the levels. Here are few tips:
  • You define a level with your own choice of tools, and then you just wait until the price gets to your level.

  • Then you can zoom into lower timeframe and wait for a price pattern to form, eg. mini double bottom on lower time-frame. You can get discounted entries on lower time-frames, but don’t get sucked into them. (everything is relative, and takes lots of effort to learn)

  • You can also watch for signs of buying pressure on the lower timeframe, eg. the closing range of the bar, the volume, whether the volatility on the lower timeframe is contracting before the anticipated move, etc.

  • You can take into consideration the price’s behaviour during the approach into your zone, and how extended the move is.

  • Whether or not the price is being rejected or consumed at your level (you need to understand supply and demand analysis and order flow dynamics).

  • If you’re trading individual stocks, then you can also get some clues from how the stocks in the same sector are behaving.

  • If you’re trading FX, then the session can also play some role. You do not want to step up in front of a level during London session, but at the end of US session (after extended daily range) the level is more likely to hold

  • Since you’re mentioning indicators such as RSI, Stochs, etc, you can use them for normal and hidden divergences. This is much simpler and far more objective for a new trader, but nowhere near as reliable as the price action relationships I’ve mentioned above.

  • Trade with the trend
 
PPC said:
It somewhat depends to some extent on what markets you trade, what time frame you have in mind, and how aggressive/conservative you want to trade at the levels. Here are few tips:
  • You define a level with your own choice of tools, and then you just wait until the price gets to your level.

  • Then you can zoom into lower timeframe and wait for a price pattern to form, eg. mini double bottom on lower time-frame. You can get discounted entries on lower time-frames, but don’t get sucked into them. (everything is relative, and takes lots of effort to learn)

  • You can also watch for signs of buying pressure on the lower timeframe, eg. the closing range of the bar, the volume, whether the volatility on the lower timeframe is contracting before the anticipated move, etc.

  • You can take into consideration the price’s behaviour during the approach into your zone, and how extended the move is.

  • Whether or not the price is being rejected or consumed at your level (you need to understand supply and demand analysis and order flow dynamics).

  • If you’re trading individual stocks, then you can also get some clues from how the stocks in the same sector are behaving.

  • If you’re trading FX, then the session can also play some role. You do not want to step up in front of a level during London session, but at the end of US session (after extended daily range) the level is more likely to hold

  • Since you’re mentioning indicators such as RSI, Stochs, etc, you can use them for normal and hidden divergences. This is much simpler and far more objective for a new trader, but nowhere near as reliable as the price action relationships I’ve mentioned above.

  • Trade with the trend
More...

Awesome mate!

Thats helpful.

Thanks for taking the time.:fistbump:
 
semperfrosty said:
Hi guys,

Hopefully the subject line makes sense.

I'm looking for tools or ideas to confirm whether levels will hold.
Other clues outside of traditional indicators welcome.......

Cheers,
More...
IT does make sense .
ANY price based indicator can give a clue, even a semi-helpful one like PSAR.
Stock Traders Almanac + IBD books helped more.[SEPT tend to be sales month, apples. stocks-ETFs.......]
NOT a prediction +good trends tend to go way past RSI 70-overbought forecast, not prediction. I just looked a first month of past bear market + semi-helpful PSAR worked better than RSI.[115,000 traders , a few may use RSI rightly anyway, fine with me LOL:D:D]
SAY i think a good trend like QQQ is a friend/trend somewhat;
but 7-12-23 QQQ corrects a bit+ could have hit 50 dma\it did in MAR,2023??
Could have lost money on QID + PSQ [offset or >trumps insurance];
it worked out OK, anyway, mainly because it keeps me from forsaking main trend .7-13-23,11:00CST.
 
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