Your favorite trading indicator so far

mine also

(or one of mine, anyway: i have four PA bedrocks - haven’t changed them for decades; momentum, trend, volatility and volume)

but momentum is an important PA bedrock anyway, with or without the other three! :slight_smile:

that’s the part of your post that surprises me so much!

maybe i misunderstood?

if you agree that momentum is a PA bedrock, then why are you monitoring it with an indicator, rather than by PA? :dizzy_face:

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Not necessarily monitoring, yes I use the indicator as a clue in times when PA gets little bit clogged.

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Moving average, Bollinger Bands, RSI in combinatio with trend lines are alll tiem my favorite indicators.

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I also think MACD is one of the major indicators I do use that.

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I see among indicators Bollinger Bands is one of frequently used indicator. I have not used it myself. I will give it try. thanks

yes, that’s right

do you think that makes it very likely, or very unlikely, to be a good one???

i wish you good luck with it, if you try

my own instincts would be (and are) the exact opposite

for me, its being widely used would make it one to avoid, for all the reasons explained in the link above

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MA, without a doubt! I always vote for simplicity and my 10+ years of trading in Forex market says that it’s always your best bet to stay away from complicated charts and indicators, that’s why MA is my go-on indicator always.

Just wanted to give you my two cents :wink:

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EMAs + RSI, so far it’s such good a combo to me. But I’m always wanting to improve my strategy, so who knows perhaps I’ll find some better indicator(s) in the future.

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For a basic strategy I tend to recommend support and resistance and trade within range using the RSI indicator for confirmation of overbought / oversold for entry and exit signals.

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I don’t like indicators on my candles, but I will use a lower indicator such as Stochastic RSI to detect divergence.

Or turn your Candles into the Indicator… (RSI 21) Nice clean readable charts…

How do you detect divergence with this or see the real price action? Seems like this would obscure price even more than a lower indicator.

Real price action obscures a clear view of where the market is going…

The RSI is labelled as on Overbought / Oversold Indicator… Those that have traded this feature have been left wanting as it can run along the 70/80 or 30/20 levels for prolonged periods of any particular time frame.

The only truly reliable Indication from this Indicator is strength and weakness… Hence it’s name Relative Strength Indicator… RSI above the 50 (Strong) or the RSI below the 50 (Weak)…

If you study the Candles (above and below) you’ll see above the 50 are Green and below the 50 are Red. If you were to open positions at the change of signal you’d have a few small losses and a few big wins…

It’s that simple… This gives clean easy signals for the change in trend of price action.

Even on the latest (No cherry picked sections) GBPUSD 4 hour Chart it would have you on the right side of the market enough to be profitable.

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So it only changes the color of the candles not the formation. That is interesting

The MACD indicator is my absolute fave for trading! :chart_with_upwards_trend: It’s like having a GPS for trends and momentum. Plus, it’s a signal powerhouse, offering a variety of trade signals. While I am exploring some new indicators, I’ll definitely share my insights once I’ve got a firm grip on them.

In my opinion having solid proce action and support/demand zones knowledge is way more important and using indicators like EMA is like last resort

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Most successful would be probably a combination of MACD, RSI and Pivot Points.

Most enjoyable to play and poke around with Heikin-Ashi and Ichimoku.

If I had to pick a favorite indicator, it would be EMA (Exponential Moving Average). It’s my go-to tool for spotting trends, measure the strength, and make trading decisions.

For me it’s EMA (Exponential Moving Avarage) cause it helps me clear out situation in the market and secount would be ATR (Avarage True Range) cause it helps me with setting my stop loss in more accurate positions

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My favourite so far is multiple timeframe fractals. I use them to trade reversals at key levels. If a key level is broken its no longer a reversal but a continuation. I can still trade those. I’ve added a 24 period MA and the Alligator indicator for visuals to spot trends and consolidation quickly. A 20 period MA would still work instead of the 24 but the 24 is my preference. I can see why RSI is useful especially the RSI 9. I believe price action is king so I look for candle patterns at the key levels as well.