Throw all indicators to hell!
use systems and then involve indicators, do not use any of them spontanously
use systems and then involve indicators, do not use any of them spontanously
kiss the trend
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Quoting ClaudeDislikedIndicator bashing?
....Ignored
Quoting BemacDislikedSeriously,
All "Price is King" and "Indicators are for Rookies" or whatever fans, are you telling me that you are basing your trades soley on the last bar of the chart. Because if you are not, then you are using historical data that says when this set of circumstances occur, the likelyhood is that this event will follow is increased by history repeating itself.
Also, that it must then be impossible to write code that says if 2 bars ago was a BUBSlugBar and the current bar is a BullPinBar then, ...Ignored
Quoting ClaudeDislikedOf course, I am not basing my trades on the last bar of the chart I'm simply trying to get clarification on what one would consider an indicator. If I look at past price history to take my trades. I am using price. But if I program, a graphical representation of this price history am I to believe that it is no longer valuable.
Understanding the mathematical equations behind indicators can make them valuable tools.But you must take them apartand see what makes them tick.No pun intended.
Let's take a controversial indicator
Developed by George C. Lane in the late 1950s, the Stochastic Oscillator is a momentum indicator that shows the location of the current close relative to the high/low range over a set number of periods.
I will venture to guess not many people had even investigated how it was calculated.Just because it's in the over bot zone it simply means that it may encounter resistance.Knowing this can help you Spot price action that is about to happen.. It can alert you, it may break resistance and continue upwards. . Some traders consider this a Stochastic pop.Ignored
QuoteDislikedSorry Claude,
I wasn't referring to you when I asked if trading on last bar.
I was actually referring to those that say the don't use indicators.