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| Discuss Best combination of Indicators at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi All! Going through the various forums/threads though there is a lot of information on ... |
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#1
18th January 2007, 01:16 PM
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Best combination of Indicators
Hi All!
Going through the various forums/threads though there is a lot of information on virually everything - I could not fiind anything that suggests a best set of indicators. So here goes ---  If for instance I start looking at a share today I would use the following check list - 1. Trend identification. I use ADX - if the ADX slope is pointed upwards and value > 20 the stock is in trend (trend could be either up or down). On the other hand if it is pointing down or has peaked and is now going down it means the stock is in consolidation and Oscillators like stochastic could be used . 2. Resistance support levels If the stock is in trend resistance support levels need to be idendtified so as to get entry / exit levels. Entry is at support levels and exits at resistance points. Stop loss placed slightly below res/supp depending on the direction of trend. 3. Overbought / Oversold If the stock is in sideways movement we use Stochastic entering at oversold levels and exiting at overboughts. 4. Pattern analysis Before sell buy activities we also look at possible chart patterns. Various triangle patterns indicate the stock is on the verge of moving out of a sideways movement. 5. volume Strong volumes suggest that movement in the direction of the trend will continue, while falling volumes suggest a change is near. Any suggestions anyone! 
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#2
18th January 2007, 01:25 PM
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Re: Best combination of Indicators
Hi,
Whatever you have outlined, if it is good enough for you, use them! I don't think there are a set of 'best combination of indicators' as it depends on personal taste and application. Don't forget weekly charts though! Best regards, Sunil Saranjame. 
Last edited by Linus; 18th January 2007 at 01:46 PM. Reason: weekly
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#3
18th January 2007, 06:56 PM
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Re: Best combination of Indicators
Whatever the time frames one essentially goes through the same process - the net result of analysing the weekly chart enables you to take more effective decisions in the daily time frame - but the way the charts are analysed remain the sameAgain personal choice may be a difference in choice of indicators but - for eg stocastic and RSI reflect the same phenomena - the basic purpose of measuring overbought/oversold condition is common Rgds Ashok  PS Thanks Sunil ! Last edited by blossom04; 18th January 2007 at 07:11 PM. Reason: addition
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#4
18th January 2007, 09:19 PM
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Re: Best combination of Indicators
Quote:
JUST TWO:-- 1)DO IT & DO IT & DO IT 2).................................FIND OUT WHY YOU WERE WRONG OR RIGHT EVERY TIME AND KEEP A DIARY FOR IT..
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