Indicators For Scalping, please post here

[pro87]

Hello again tymen1 i saw that you use candlesticks with small time frames and just get small pips . scalping did you try to use them in longer time frame like 1h ?I`m sure that you will have better results .... like i said i also use them but i don`t use Bollinger bands ...only stoch rsi and candles but i`m pretty pleased with my results.o yes and how much you average get per day ?

Regards,

Teodosy

[tymen1]

I use 12 time frames, the longest of these being 1 hour.

My approach is basically a scalping arrangement with a target of 9/10 pips on the first candle.

But if you go beyond the first candle, anything is possible via the way of earning pips.

My money take is irrelevant, anyway, i spend most of my time on the sharemarket.

[iinzall]

I am still keeping on learning Tymen, It's a great Method...

Regards,

IIN

[sameer666]

hi guys


i m trying to trade with candlestick really interesting as it seems. but i use daily charts and go for 100+ pips but at the moment i m struggling to find overbought/oversold indicator as all of them laggy or in accurate( by accurate i don't mean 100% but atleast 70%). so any suggestions on will be greatly appreciated

thanks

[iinzall]

Originally Posted by sameer666

hi guys


i m trying to trade with candlestick really interesting as it seems. but i use daily charts and go for 100+ pips but at the moment i m struggling to find overbought/oversold indicator as all of them laggy or in accurate( by accurate i don't mean 100% but atleast 70%). so any suggestions on will be greatly appreciated

thanks

There are many indicators to show price is in overbought or oversold. But may be you can use this one. A stochastic with colors. here is the link to the thread, there are may choices of the stochastic.

Stochastic Color Bar! - Forex Trading

Hope this helps.....

Regards,

IIN

[sameer666]

hi

thanks for reply, the main confusion is that some say stoch is good some macd, some other indicator, i just need something that is better of the range of indicators that are available. thanks again


cheers

[sameer666]

hi guys

this is the most confusing state of the market to me, when the trend keeps going up or down but steadily instead of fast and sweet way . any one have any suggestion how to see for reversal ?

cheers

[sameer666]

hi

thanks tess for the reply, but the chart i posted is daily chart, so wat to do in that case ?


thanks

[sameer666]

hi

thanks again for reply i use just candlestick to enter or exit nothing else on daily chart. bcoz if i use lower timeframe i see too much noise in them and there are too many patterns. which gets me confused on the trade i m in. i believe candlestick give enough information to trade but as u know the limitation with candlestick they cann't give price targets. i m trying to get some indicators on the charts but normally they raise more questions than answers.

what i need help with is if the trend is moving fast and nearly every day the price is making higher high with big candle body then just look for reversal. but if the trend is moving slowly price is still making higher high but the candle body is not big enough which raises confusion as if trend is losing pace or it will keep on going. any guidence will be much appreciated

thanks

[tymen1]

The method I posted on this thread was never designed to run with a trend.

Candlestick patterns have a certain life then another pattern comes along.

With my approach a life of up to 7 candles is definitely maximum. After all, it was a scalping type approach.

I think the first pips you get after a pattern forms are the best pips. A higher leverage is an easier way to make the money using the first pips.