Your favourite 5 indicators

kkeskar92

Well-Known Member
#1
Tell us about your favourite 5 indicators along with your strategy for day trading.

My indicators

1. previous day's HLC and today's opening price as important support and resistance levels
2. pivot points for intraday range
3. double Bollinger bands with 1 and 2 SD on 20 period MA on 5 min charts to indentify trending/ ranging markets
4. Woodies CCI panel along with LSMA, chop zone indicator and sidewinder as a momentum indicator along with Woodies 8 CCI patterns
5. Nifty index with OHLC

Here is a chart picture of Reliance Infra to demonstrate my strategy.

Now tell us about your 5 indicators.
 

linkon7

Well-Known Member
#2
Tell us about your favourite 5 indicators along with your strategy for day trading.

My indicators

1. previous day's HLC and today's opening price as important support and resistance levels
2. pivot points for intraday range
3. double Bollinger bands with 1 and 2 SD on 20 period MA on 5 min charts to indentify trending/ ranging markets
4. Woodies CCI panel along with LSMA, chop zone indicator and sidewinder as a momentum indicator along with Woodies 8 CCI patterns
5. Nifty index with OHLC

Here is a chart picture of Reliance Infra to demonstrate my strategy.

Now tell us about your 5 indicators.
Wow...Ur CCI panel looks real nice... ! if possible can u share the afl...
we seem to use similar methods... i detailed my strategy here...

http://www.traderji.com/day-trading/37079-linkons-db-bb-system-4.html#post401189

maybe we can exchange notes and be able to refine our approach better...
 

kkeskar92

Well-Known Member
#4
Hi Linkon,
Yes......your trategy seems similar to mine. I have improved my consistency only after being introduced to Woodies CCI system. I have Woodies home study course and I learnt his patterns form that. I use fxcentral charts and Woodies heart panel which is available from forex-tsd or forexfactory for metatrader platform. Fxcentral is a metatrader4 platform where any of MT4 system can be used for Indian markets. The double Bollinger bands method shows exeactly whether market is trending or ranging.
Your charts are nice as shown on your link. Along with CCI I use pivot points, opening gaps for trading decisions.
 

linkon7

Well-Known Member
#6
Hi Linkon,
Yes......your trategy seems similar to mine. I have improved my consistency only after being introduced to Woodies CCI system. I have Woodies home study course and I learnt his patterns form that. I use fxcentral charts and Woodies heart panel which is available from forex-tsd or forexfactory for metatrader platform. Fxcentral is a metatrader4 platform where any of MT4 system can be used for Indian markets. The double Bollinger bands method shows exeactly whether market is trending or ranging.
Your charts are nice as shown on your link. Along with CCI I use pivot points, opening gaps for trading decisions.
Woodies CCI system is really good. I use BB(20,2.25) and BB(20,1) on the price and follow that for direction. For entry and exit, i use CCI panel. Of all the patterns, I just look for plain simple divergence. I normally exit at the first sign of doubt and then re-enter i the direction appears clean again.

I place a lot of importance to CAMARILLA pivots and fabo retracement.
 
#9
price, price, price, price & price.


I agree,

but I think I would say there are only 2 indicators (everything else is derived) from it,


price, volume, price , volume, price ...................


One should understand to work with these two only , I have met many hugely successful traders who have a great grasp over these two (rest of the indicators are biproducts of these two)
 

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