Nice to read that you are doing work in forex market successfully without using indicators. I also think indicators are not essential in trading when your analysis and trend definition is good not be confused to see indicators. It all depends on your experience how you had a grip on trading then you are not bound to use indicators.
1 Like
I don’t find off-chart indicators to have any significant input into trade decisions. If price is going up, I can see its going up. If its going up faster than it was, I can see that too.
But I do use moving averages to confirm trends for my strategies and to compare the suitability of different trends on different charts.
2 Likes
I am using several indicators: MACD historgam, Stochastic oscillator and moving averages.
1 Like
ATR is all I use.
Zero.
Both pattern and candlestick trading can be done without indicators.
1 Like
As an economist I keep the charts pretty simple. Around 2 moving averages and 2 indicators per instrument. Ideally one template per instrument or gang of instruments.
Can you share some details about your MAs and indicators you use?
I’d like to get to that level!
1 Like
I’m guessing some TA/pattern recognition are involved as well?
Yes, I think price action is key. I’ve tried using a lot of indicators and they just get in the way of what is really on the chart. I could understand using a moving average to identify the trend if scalping a shorter time frame but I trade the daily’s… I do sometimes zoom in to lower time frames to see how price has been respecting S&R levels.
30 and 90 day moving averages tend to be relevant on D1 charts. Indicators include RSI and MFI. Indicators used can depend on the trade, the time-frame and the instrument. Focusing on historically frequented selling prices and buying prices in longer-terms to anticipate future scenarios.
Yea I’ve been doing that as well. Thanks!
Okay cool! I’m not familiar with MFI. Money flow indicator? I’ll have to give that a look.
Can you expand on this a bit more? Thanks!
It depends on time to time. I do not have many indicators for my trading. 4 or 5 are enough for me.
What are you using, your 4 to 5?
Maybe I should put together a spreadsheet or poll or something so we can keep a running total.
I throw one trend indicator and two oscillators on the chart.As a trend indicator I use Ichimoku. Oscillators-stochastic and RSI. Too many indicators are not needed.
@alekxandra Sounds so very simple. How long have you been using Ichimoku? I had a look a while ago. Was a bit complicated to follow.
Investigating which ranges prices spent the most time at by using long-term historical charts in order to determine if it is likely to go in a typical direction. Risk management is trading probabilities.
1 Like
I use EA dashboard with embeded indicator, MA, RSI and two another PIN from outside dashboard, Coral and TDI.
What is this? I’m not familiar. Thanks for sharing!
How far back does the data go, and may I ask where you get it? Is it a manual process calculating the ranges? Thanks!
EAX Dashboard, free to use