I searched this topic, but unable to find details. Not sure what numbers to select when deciding on any particular indicators. On every indicator there are different options. F.e. moving averages 10, 20, 50, 120 and so fort.
How do I know what number to select for my indicators? It appears that chart software automatically select default numbers, but are default numbers advisable for any time frame?
Thank you for your help.
A good place to start are the default settings in your charting software. Reason being is that’s what a majority of the traders who use indicators look at and react to.
Again, that’s where you would start, and as you oberserve and gain experience, hopefully you will begin to adjust and tweak those indicators according to how you view and react to the markets. (For example, maybe you want your Moving average crossover to give you an earlier signal, so then you would shorten the lengths of either MA or both and vice versa).
Or maybe you feel you don’t have to change settings at all.
So, try out the default settings, and take the time to back test and forward test to gain experience. Who knows you may end up not using any indicators at all. Hope this helps 