What indicators do you use for day trading?

Beginner Questions
1

For those day trading, what indicators and which time frames work best for you? Thanks!

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2

IMO, the Ichimoku is my mentor guide in trending markets, less so in ranging ones. I trade the 1 Hr providing it’s in synch with the 4 hr and daily TF.

But in today’s Covid environment - supply and demand intraday zones (not S&R) need respect, as most markets are like volatile sirens to unsuspecting traders.

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3

I would like to say that with the help of the Ichimoku we can know about the market trends

4

I do not use any indicator except volume. For me D1 and H1 works better. Everyone is different. What works for me may not work for you. By doing experiment you have to find out what works for you.

2 Likes
5

I do not use many indicators, one good thing that I use is depth of market. It is really a good thing to use as one gets to know that what others are doing right now and how you can respond.

6

20 EMA
40 3 3 Stoch
14 4 4 Stoch
Trendlines / Patterns
FIB

Entry/exit can be on 3m or 5m - watching 1hr/4hr and D1 for key levels.
When Stoch align on multiple TFs, you have more edge.

Key is just being patient. Your time is: 90% sitting on your hands, 10% trading.

That’s all you really need…

7

None. They distract and lag and just downright confuse you when you have too many on your chart. The best indicator is price; uptrend, downtrend, sideways. Trade that way

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8

@AVSH Following your logic— if indicators lag, and you recommend “best indicator is price”, does that mean you believe price is forward-looking?

If Yes, then, what is the difference between an indicator such as RSI providing a visual representation of movements in price vs. a candlestick providing a visual representation of movements in price. Candlestick, by nature, are lagging as well- a candlestick can never predict a future price of an instrument.

What is the difference between a candlestick representing price vs. an indicator representing price?

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9

The best indicator is PRICE. All other indicators are lagging.

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10

@pipeagle911 First post, coming in with a fastball down the middle of the plate?

Explain to me the difference between any indicator, that creates a plot on a chart vs. orders executing on the BID/ASK that creates a plot on the chart (ex: candlesticks).

So, if all “other indicators are lagging”, how is price non-lagging? And, how does a candlestick indicate which direction the market will move in next?

What is your definition of lagging?

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11

As per my personal experience these 2 indicators are a must to try. Good thing is can get try for 1 month before purchasing for year.

  1. https://www.orderflow-trader.com/buy_product.php?aff=saq&prod=kang

  2. https://www.orderflow-trader.com/buy_product.php?aff=saq&prod=twez

The first indicators is based on the famous forex strategy book called NAKD.FOREX by Walter Peters.
Very simple rule to follow. Indicator helps you in finding right setup.

Second mentioned indicator is finding Tweezer setups on the charts. Also someone posted in Youtube and was constantly making profits.

Hope my answer helps.

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12

Last I checked indicators and your favourite oscillators were all created using mathematical formulas based on, you guessed it, PRICE.
How can Candlesticks be lagging when they provide the best visual information on current price action; (open, close, high and low) and almost all indicators and oscillators calculate their movements based off of this?

I never said price action nor candlesticks predict the future. Nothing does. But traders who live and die by candlestick patterns will argue they can tell when a trend is about end, begin or continue using those patterns so maybe there’s an argument for that, I don’t know.

The crux of the matter is, every trader bases his or her strategy on the current price movement, whether you use candlesticks, line charts etc or 8 different indicators and oscillators. My point is you don’t need a moving average crossover coupled with a MACD to identify an uptrend when you can visually observe 2 higher highs and 2 higher lows with your own 2 eyes.

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13

Because a candlestick tells you what has already happened, not what is going to happen.

Fixed that for you: “when they provide the best visual information on HISTORICAL price action”

Can you share 3-5 recent trades you’ve taken based solely off “2 higher highs, and 2 higher lows”?

14

Please show me where I ever said candlesticks tell you what’s going to happen. I’m waiting …

Good. Now say the same for oscillators which according to you “provide a visual representation of movements in price”.

15

Right here…

There is no difference between what a candlestick tells you, and what an indicator tells you. They are both lagging.

Also, still waiting for you to answer / address this:

16

LMAO. Wow, just wow.

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17

3rd attempt asking:

Continuing…

What’s the functional difference from a trading perspective? Your thesis is that indicators are lagging, and price is not. My argument, which I’ve supported multiple times w/ clarification, is that everything is lagging.

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18

Ok. I concede defeat. You’ve won. I’ll mind my business now.

19

Woe is me.

20

For Indices
At close:
25 EMA
50 SMA
180 SMA

Note it only works on indices