DislikedOnly 30 or so pages into the thread as taking it a bit at a time and letting things sink in. After giving up my addiction to indicators a while back I was pretty reluctant to put any wiggly lines on my chart but I bit the bullet and threw them on there yesterday and wow...I like what I see.
I do like the trendlines on the weekly for trend and confirmation as a bounce/break shows clear but wonder how many of you use the weekly worms on the daily chart ie the 100 & 250...sure its good when everything lines up but it seems a trend has to be running...Ignored
Well done. If only more people would adopt this approach!
“”After giving up my addiction to indicators a while back I was pretty reluctant to put any wiggly lines on my chart but I bit the bullet and threw them on there yesterday and wow...I like what I see.””
Technically, moving averages are indicators especially if you use them as a cross to trigger trades. The way, I use them, for market sentiment, direction finding and trade management, I don’t consider them as indicators. There are posts where the benefit of these are explained.
“”I do like the trendlines on the weekly for trend and confirmation as a bounce/break shows clear but wonder how many of you use the weekly worms on the daily chart ie the 100 & 250...sure its good when everything lines up but it seems a trend has to be running on the daily longer than the lifespan of most children's goldfish before the weekly 20 follows through.””
The idea behind this is so that you can “see” two timeframes on one chart. If you have a screen split in two with the Worker on one side and the BOSS on the other then there is no need to for the BOSS MAs on the Worker.
Thanks for the questions. If this doesn’t help, let me know.
15 YEARS OF PASR ON FOREX FACTORY!