any advice on entry and or exit indicators?
It’s depends with the type of trader you are.
Learn how to read candlesticks for entry and exits(important zones).
Hi, a good entry/exit indicator is a very extensive topic. You have to take into account various factors, e.g. time interval or type of order used (stop, limit). Perform research in this area is the only way to find out what indicators to use. Regards Greg
I’m going to suggest a technical indicator is a very random way of generating entry/exit signals.
An indicator can help in confirming your strategy’s best set-up conditions are approaching or confirm they are present, but then you have to find the entry point by reference to price. It could be the next candle/bar of your time period or it could be 10 bars later.
But remember, when you buy, you’re buying price, you’re not buying the indicator - buying when an indicator says buy is like buying bread because flour has suddenly become good value.
Try the indicators as outlined in this thread.
there are numerous reasons where one may enter/exits it might be at or near to specific support resistance levels ,fibonacci ect. The end of trading sessions,use of Indicators what display over bought/sold IE stochastics ect .Regarding exiting it is nt always easy, maybe it best to use ratios ie 2 to 1, 1.5-1 as sometimes even past successes can make a trader over confident, wins can soon turn to losses
In terms of exits for daily short term trading I trail stop at the last candles low (if long)
Longer term you might want to use lowest low of past three days or last five days.
Another option is a pivot low that occurs below or at a moving average eg 20 bar
.
I’m sure similar stuff can be used intraday too.
An entry indicator can be as simple as a market order near a swing high/low after price has broken out in the opposite direction. Essentially your just looking for a test of the swing high/low after a b/o of that level without price violating the level.
If your order is trigged an exit indicator is another story all together.
Knowing when to exit a winning position if your not using a TP is in my opinion the most difficult part of trading and it’s not even close.
Money is made on the exit, not the entry.