Quote from hybridmachine:
I have been using MACD (12,26,7) on a minute by minute tick for the NQ and ES futures (Nasdaq-100 mini and the S&P 500 mini on the globex). So far (For the past week) I have been getting good point returns (Net +6 points a day). I wanted to get some feedback from others with a longer history of experience with the MACD and other technical signals.
Here is the specifics of my approach. I buy when the MACD crosses the indicator line (The 7 period EMA of the MACD line itself). Once I've bought, I set a limit sell order of 2 points up from my buy price. I either sell at this point, or whenever the MACD crosses back under the indicator line. I do the reverse for short swings. My goal is repeatability, ie, being able to get many 2 point hits throughout the day, versus catching one long swing over a longer period of time. So far so good, but this market has been particularly volatile, so this approach may not work over the long haul. That is why I wish to learn from those who have been in this game much longer than I have.
