Jump to content

Do Indicators work?


Recommended Posts

Interesting, (there is a way to turn the indicator id on and off in Proreatime but I've forgotten how) so it's play the 'guess the indicator' on the 1 hour chart.

In the comparison pic below we can see it is MACD set at 24, 52,18 and on the price chart we have the 150 EMA. Both working fine though you can see why many simply use the 200 MA.

It is an important point though. A new indicator is test run with a wide range of settings and the one that comes out with the highest 'score' for backtested compatibility with price becomes the 'default' settings. The important point is that the test runs are nearly always done on the Daily chart and that may not necessarily be the best settings for the particular time frame you are using. It always pays to experiment.

indy1.thumb.PNG.89abf43390b4846d1109a5e5068f8fc7.PNG

 

Link to comment

Indicators are helpful for confirmations. I have found that different ones suit different time frames. I have also learnt that they are produced from data of previous price action and so can only be used as a guide for future movements based on mathematical equations.  I think all of the technical graphs you have provided in other posts have been excellent Elle. 

Link to comment

No need to guess this one, it is a averages crossover ribbon type indicator Taotra written by Mladen, can be on price or in separate window. Many adjustments available so can be as fast or slow as required.

Current setting is; start period 3, method exponential, step period 2, and number of averages 20, and colour coded for fast, middle and slow.

Visually very effective at conveying a lot of info quickly. Direction, trend, momentum, force, speed.

 image.thumb.png.60515a3009f758e0d9876db6bff82461.png

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
      23,593
    • Total Posts
      96,936
    • Total Members
      44,157
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    peterjhawkins
    Joined 01/12/23 09:35
  • Posts

    • Gold price and natural gas price consolidate, but WTI comes under fresh pressure It is a mixed start to the month for commodity prices; gold and natural gas are relatively quiet, while oil prices have fallen after an OPEC production cut failed to meet expectations. Source: Bloomberg  Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 01 December 2023 12:22 Gold price rally stalls The price seems to have topped out for now, though a short-term bearish view would likely need a close back below $2000 to suggest another test of rising support. On the upside, the $2060 level remains as the key area to watch in the short-term, along with the $2075/$2080 area that has marked gold’s highs since 2020. Source: ProRealTime WTI falls after OPEC news OPEC’s production cuts were not enough, it seems to deliver a sustained bounce in oil prices. Instead, Thursday saw the price push briefly above the 200-day simple moving average (SMA), before dropping back again. This now means we wait to see if recent support around $72 could be tested, with a move below this creating a lower low. Source: ProRealTime Natural Gas holds above 200-day MA Here the price has managed to stabilise around the 200-day SMA, and a close back above 2900 might suggest a test of recent trendline resistance. If the price can claw its way back above 3000, buyers might emerge once again. Alternately, 2640 and 2540 become the next short-term targets to the downside. Source: ProRealTime
    • DCA is my long term investment strategy. As for copy trading, i was using Bybit and Bitget initially but switched completely to the latter cex cos it gives me more win rates. Its prolly because they have more elite traders than the former yah.
    • I would say Pele remains the undisputable Greatest Of All Time yah.
×
×
  • Create New...
us