Besides using just plain price action, once in a great while I will use Ichimoku.
Mostly in my trades i am using the Bollinger Bands and the RSI.
thanks for the advice but i tried using basic indicators. it not bad per se but i have tried bollinger bands, stochastics, parabollic sar, ma, ema, ichimoku, fractals, etc… indicators are great but, imho and limited experience, they should not be the basis of trading the market. they should not be the primary reason why you should enter, exit, or stay out of the market. maybe i just have not found a basic indicator that works for me. anyway we all have different styles in trading and that what works for someone may not necessarily work for you. i am not an experienced trader but i do want to become an experienced trader and mimicing them is not just a form of flattery but the most logical step. thanks for the input/advice.
What’s your opinion of Renko charts?
I know what they are. Just ran across a freebie concerning them and was wondering if they’re worth the effort?
It’s kind of a moot point, isn’t it?
(The same could also be said of Heikin Ashi candles?)
They’re kind of a cross between a “charting method” and an “indicator”, I think? I don’t suggest that they’re not useful (and I have almost no experience of Renko anyway, myself) but my intrinsic, instinctive problem with both Heikin Ashi and Renko is that strictly speaking they don’t actually display the price, [I]per se[/I].