One indicator?

Thanks for the posts, all are very helpful and giving me stuff to look at and think about.

RSI - all timeframes but especially hourly and daily for setups, min or 5 min for entry points

For ranging markets RSI or Stochastics
For trending markets EMA crossover

Always need at least two indicators, one for trending one for ranging markets.
Unless you want to go naked and stick to price behavior (works also - but irrelevant to the question)

You only need the volume indicator. Volume, price action and time is the combo needed for successful trading and reading the markets.

Don’t joke around with these other ones.

I’ve been looking for advice on how to read volume indicators? Can you help please?

20/50/200 EMA I realize thats 3, but they work together in concert. Getting too carried away with indicators is no good. but its okay to have a couple.

Nick Powell

Sure all indicator have weakness in each . maybe in one indicator has weakness with repaint and in another ones has lagging in movements , so its not wise when use just one indicator , maybe its will better to use more than one indicator to filter the signals that appears in one of them

Price action seems like a good indicator: no lagging no lying always telling you what market is doing at the time. Watch the price , draw the trend lines and determine the support and resistance areas with horizontal lines . This should be enough for the minimalist trader . And then practice every day for the very long time :slight_smile:

in my view there is no one particular indicator which can be used. it never happened in the history. if you want to follow one, you can go with Elliot Wave Analysis or turtle trading indicator but it wont be much helpful if you follow just one indicator

I don’t know with another trader’s mind but for me, it’s too risky to use only one indicator as consideration in making decision. It’s possible to use only one indicator but it should use more than one setting, such as : you’re using Moving Average but you used EMA5, EMA15, and EMA30 so it looks like only one indicator but there are several usage in each of its setting.

Using one or more than one indicator won’t guarantee that your result of trading will be better or worse. Using only one indicator is not always bad and using many indicators is not always bad either. It’s depending on the trader who used because different indicator could be used for different condition.

definitely RSI,

But 2 settings, 2 and 10

I don’t have one specific one as of yet, but I do have some wish list items my ideal indicator would have.

Accuracy would be first, if it was moving up or down should still be accurate.

Minimal lag behind market movements, and should work on and be adaptable to whatever time frame I choose to put it on.

Personally, I don’t use any indicators at all and trade by just reading candlestick charts. It’s not at all easy to obtain this skill, but everything becomes much more simple once you get the knack of it.

Yes you are right as it actually depends on us whether we prefer to use any Indicator in our trading or not. And if a trader is more comfortable doing naked trading then he will not need any Indicators at all :slight_smile:

If you don’t use any indicator at all and reading candlestick chart only so it means that you’re naked traders who recognize the tendency of next price movement from pattern of candlestick. Am I right? Or maybe you’re using another tools like fibonacci, trendline, horizontal or vertical line, grid, and any other tools? I think using indicator or not, it is not easy thing to predict what will happen in the future.

ATR of course :slight_smile: