You’ll probably find MA’s and MACD give you similar results to each other, just use one or the other.
I’ve no experience with SHI channels but if you have a strategy, that should push you towards a certain indicator (or two at most). But without a strategy, it would be a mistake to decide to use a certain indicator anyway.
on intraday base i have used PP for something like a static indicator for breakout trading through the day. stochastic to see is it oversold or overbought, and shi channel just to clearly see what is the trend overall.
trading PP i didn’t like that i was entering late and getting out soon. R1 to R2 and S1 to S2 system (check it out on above picture in the link), now i would like to ride on a wave
if you know what i mean, catch it early and if its good, ride it for some time
of course, 2 3 months of demo trading and when i feel comfortable then trade with one grand for start
i think ill for starters just use moving averages and shi channels (trend lines) and keep it simple, after some time i will add something else if im in need
Besides the great advice given so far, I would have to implore you to consider weekly horizontal levels. For example, when price reaches a weekly support level, you should be watching closely for a buy signal on whatever time frame chart you’re using. Same applies to resistance levels also, looking this time for sell signals.
I think you’re making a great decision to go with higher time frame trading. I’ve been trading the daily charts for the last two years and I am now profitable. I still trade intraday, but I do so on a demo account. It’s a lot more fun to lose play money than it is to lose real money.
As far as trading off indicators goes the less the better, but i did find a good commodity channel indicator
that i found useful think its standard indicator on most MT4’s
plus S/R zones Important…!!!
plus : ZigZag if your counting waves
plus 11 day 33 day MA’s : ??? or whatever your preference
plus fibo’s : Placed in a strategic position
= A somewhat messy chart But My binoculars to peer into the Markets abyss, looking for that answer ramzes2.ready to send 1 of my drones to test the waters… .
Other than that have you tried the C4 system or any of the numerous other free systems indicators.? that are on the forums
I tested a few with some giving good results. but the main reason for me was to see how they worked helping me to build on my own day trading strategy.
I think you can profit off Trading: solely on Technical or solely on fundamentals but if you Master
both and use some logic you gotta have an even better chance right.?
It’s speculation just make sure you have covered your A55 !