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Maxwell

You're Favorite Techinical Indicators - List Them

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Hi Walter,

 

You have to chart these in between your ears.

 

 

Oh I see ¡¡ great ¡¡ I call that market climate perception... takes some years of screen time... good for you KNC ¡¡ cheers Walter.

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Before I traded using price only, I had a slew of technical indicators, most of which have been mentioned here. Dropping those comfort tools was really a challenge until I overlayed those technical entry signals with the price action signals I learned.

 

What I discovered was that my "old" entries (which usually required multiple confirmations from a variety of indicators) were anywhere from 1/2 to 2 ES points behind the price action triggers. That's a huge difference which I now, in retrospect, view as slippage. That slippage went right into the pockets of the pros who took the other side.

 

In the ultra-competitive game of ES day trading, one can't afford to give that much up and hope to consistently turn a profit.

 

So Trex, anything more to add??? :rofl::rofl::rofl::rofl::rofl:

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:)

Price is my indicator :) I stopped using technical indicators years ago. Now the only tools I use are market internal tools such as the TICK, TRIN, prem, and PC ratio. I also use market profile and pivot points. Read this thread to learn more about my trading techniques.

 

 

Hi Soultrader.

 

I have a request. Could you please to review the link you write here like "thread" because it is not working? I am very interested in the price action techniques and I would like to read it.

 

***

This is my first post here. I have just a short time to read, reason why I am advancing little by little with the topics that are more interesting for me. Anyway, I want to take advantage of this post in order to say that you and your colleagues have a great place to learn about trading. Thanks. :)

***

 

Regards.

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hmmm.... I dont know what happened to that link, perhaps I may have accidently deleted it.

 

Cattus, if you would like please let me know of any questions you have regarding price action. (please try to be specific) I will do my best to see if I can help answer them. Although price action seems like a specific topic, I tend to classify price action into pattern recognition, tape reading, TA, Level 2, etc...

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I'll let Soul answer, as I know all of our trading strategies are under constant evolution, but I think he said he uses market profile concepts, but not Market Profile specifically..I believe he said he mentally forms the market profile distribution while viewing the charts (which is actually easier than it sounds once you've seen it for a while) and starts really watching the tape at s/r levels....

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hmmm.... I dont know what happened to that link, perhaps I may have accidently deleted it.

 

Cattus, if you would like please let me know of any questions you have regarding price action. (please try to be specific) I will do my best to see if I can help answer them. Although price action seems like a specific topic, I tend to classify price action into pattern recognition, tape reading, TA, Level 2, etc...

 

 

Hi Soultrader. Thanks for answer me.

 

OK, there we go. You said that the price is your main indicator to trade (post #3), but you also said that you work with internal tools (such TICK, TRIN, prem, PC ratio, market profile and pivot points). I would like to know more about those internal tools. As I understand you wrote about them in the link "thread" you mentioned into this thread post #3, but at this time it doesn't work. Also doesn't work the link "thread" of "Why technical indicators are useless in trading " post #3.

 

On the other hand, let me explain what is for me the price action.

 

The price action for me is the reaction of the price to important support and resistance levels.

 

It reactions could be Specific Patterns. Talking about candlesticks, I prefer the patterns such Hammers and Inverted Hammers (or the sum of two candlesticks: Piercings. That are equals to Hammers or Inv. Hammers). Why? because the Hammers and Inverted Hammers show us the pressure of the offer and demand. Also we have patterns like the Marubozu Patterns, that are very clears about the pressure of the offer and demand.

 

The Important Levels (Support and Resistance) could be anything that it has proven technically that it is important for the market. I prefer these levels:

- Pivot Point

- The High and Low of yesterday

- Lines of Murrey Maths

- Trendlines

- Chart Patterns

- Fibonacci Patterns (AB=CD and others)

- EMA or LMA of Finonacci numbers (55, 89, 144, 233, 377)

- Levels of Fractals

 

The indicators come after the price, but I think some of them can be very useful, like Stochastick, MACD, Fractals and Moving Averages. May be there are others that can probe be useful.

 

Do you have a Thread where I can study some of my doubts or comment my ideas?

 

Thanks.

 

cattus

"Eres dueño de lo que callas y esclavo de lo que dices"

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If you have a favorite indicator that you use please share it with us! List your indicator and a brief description how how you apply that indicator to your trading.

 

Price and Volume.

 

Focus on the following color sequences.

 

R2R 2B 2R or B2B 2R 2B

 

- Spydertrader

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I daytrade eminis and use 3 timeframes YM 1296t 432t 144t, plus ES 5400t for lead/SR. I use adaptive average (10). I tested other MAs/EMAs, no contest.

I enter when it curves up/down from being flat a while, in sync with a zero line cross on the detrended oscillator or MACD (Linda Raschke's 3/10 settings),

confirmed by slow stoch cross-over, preferably at extreme point/off SR/pivot point. But my trigger indicator is the DMI with ADX combo (super-imposed) with

extreme settings: DMI 6.8.8 ADX 10.4,19 on Sierra Charts (standard settings are too slow). I arrived at these settings after backtesting every possible

permutation. The trick is to get the topDI to jump over the ADX line or at least touch it and turn up; play with your settings until that happens, it should be a

very visible signal! No matter where all other indicators point, if the ADX is not moving up, there's no trend and you are dead in the water. This ADX is more

reliable than Bollinger Bands at any settings, and a whole lot better than the squeeze indicator, which tends to join the party too late. I compared.

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