Hello pals, do any1 find the heat map tool useful on marketmilk, and if you do, could you please share thoughts or ideas?
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I use it as one confirming indicator before I open a trade.
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What timeframes do you look at?
Are there other marketmilk tools you use as like a combo before opening a trade?
Yes, I tend to scan through the various indicators, if I have any doubt. Propably an overkill, but I am very conscious of keeping my risk exposure prudent and in accord with my strict process.
TF, from one hour to one day, as I am a day trader.
I use the 1 hour TF and i enter my trades normal in the 5 min TF maybe the 15 min TF but mostly on 5 min TF.
I use before that what i call a deep trend TF on a month/week/day TF to find out where the markets are and what they are showing me, what trend etc and i normal do that each Monday
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That makes sense. I mean the process of looking at each of the indicators is pretty quick anyway.
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What can you say about the momentum tool?
Use MACD 3-10 -16 set up, and RSI 10 set up with 50 line.
My tip? Use it to diversify - it gives a good overview of sector and country performance. But don’t solely rely on it. Always verify with other tools and your own analysis.
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