Simplicity
- Thread starter jrs3
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Simple is the best way to go. IMHO
Though I do use 2 custom made indicators. One for trend and one for oscillation.
Less distraction you have, the better you can watch the charts.
I have seen some really complicated setups and wonder how they can decide to put on a trade....but every person if different in how they like to see things.
I would suggest one more line on both of your indicators. Such as a 20 or 50 EMA and a stochastic overlaid on what you have for an oscillator. Might help you avoid some of the false signals you have on this.
Then again, if it works, don't fix it.
Though I do use 2 custom made indicators. One for trend and one for oscillation.
Less distraction you have, the better you can watch the charts.
I have seen some really complicated setups and wonder how they can decide to put on a trade....but every person if different in how they like to see things.
I would suggest one more line on both of your indicators. Such as a 20 or 50 EMA and a stochastic overlaid on what you have for an oscillator. Might help you avoid some of the false signals you have on this.
Then again, if it works, don't fix it.
Rather than a confirming oscillator in the same bar interval, find one oscillator that you like for that interval (which you may already have done with the histogram), then use the same or a similar oscillator in the next-higher bar interval, such as the 5m if you're entering off the 1m/2m. This will most likely provide a better trade filter.
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