Suggestion on Indicators

I am currently using MACD, Stoch Occilator and S/R (As well as PA) to determine my trades. Does anyone wanna make suggestions as to what else might be useful. Or indicators they have found made a difference.

My setup seems to work well for me though.

Suggest You show a chart and do some explanation so that others can contribute.

Hi Drew
if it works for you don’t change it. A common fallacy is the more indi’s used the more accurate. Better success is usually achieved with a simple set up. By all means try others like ma’s and fibs but you need to understand what you are using and not every indi works for all traders

Why would you want more? You seem to have incorporated indicators from the two different “schools” (trending and ranging). There’s no reason you should need more than MACD and Stoch.

Try looking at all of the indicators in the two schools and see which ones you understand better. For example, some people prefer RSI over Stoch because it utilizes less lines. Don’t try to stack indicators from the same school because it will quickly become confusing.

On a side note: You can perhaps work ATR into your setup. Some people use a multiple of the ATR as their stop loss. So, that’s always a possibility. See if it works for you.

Counts the days till this_barb becomes one of those important fxmen or at least a master contributer person, I’ll look into that thanks man :smiley:

You have a decent set up to get a good perspective. My only suggestion would be to not fall into the trap of trading off the indicators as opposed to price. You mentioned PA in your current design, so you should be good to go.

Does you present set up enable you to have a profit at the end of your trading session on a consistent basis?