in such conditions when market is sideways mj indicator will help .
the reason why i added mj indicator to sniper rishijay trading system is to filter false trades.
mj indicator will show major trend is up of down , or sideways no major trend identified warning.
so in your example mj indicator will throw warning that no major trend identified. wait till it shows major trend down signal.
in my above example i do waited till it shows major trend down.
in my above example in 1 st image you can see that it was showing no major trend identified though the set up was right to sell. it is only that it showed major trend down signal( image 2) in case of my example that all indicators were aligning with mj indicator. and that was right trade.
so best trade is when all indicators align. no single indicator is left out without aligning.
in any case i find lower timeframes like 1 minute , 5 minutes, or even to rightly speak 15 minutes unconfortable to trade on any trading system as it is difficult to be profitable every time. you can earn profit once or twice on lower time frame but when markets hits you in opposite direction trading in such lower time frames hits you very badly as it gives you very little time to exit positions.
in sideways markets no trading system of world will be able to generate profit consistently. mj indicator helps out partly to remain out of sideways market.
after prices hit undersurface of gold line and then trying to fall --- at that time you can see that stlm histogram was generating blue bar immediately, it should have remained red also to validate continuation of sell signal while we wait for mj indicator to throw sell signal.
so that was another warning that this sell signal may not be right in sideways market.
you can also see the importance of stlm histogram as it reacts faster then even macd to warn you in any trend.
stlm histogram is faster then macd for signal generation when trend is about to reverse.
Hi,
Well if with all these indicators in not able to win!
It is no longer a trading chart, it is a Christmas tree
Too bad it does not flash
Not serious, really
Hello Brijeshsinh,
could you tell me what new indicator you just add today new ?? post #88,89,90,91,92,93,95
how its to much do we have to put in system ?? or depend how we like in chart ?
what i have observed with supertrend indicator with following settings-- nbr period-10 and multiplier-1.7 is that it behaves like EMA=20, but gives exit early.
so i personally overlap supertrend indicator with above settings with sniper rishijay trading system .
as this settings matches optimally with other sniper rishijay trading system indicators.
it gives exit early before actually prices breaks lower border of cloud and then breaks 20 period ema.
so i use it for exit signal with rest of the sniper rishijay trading system.
also i use it for trailing stoploss as it adjusts near prices more quickly then actual 20 period ema. so gives idea to set much tighter stoploss then even lower border of cloud and 20 period ema.
so thats two advantages of supertrend indicator with which i use it. you can load it on chart with sniper rishijay trading system and observe it yourself and set its settings as per your trading style.
i have not included more indicators with the system so that chart screen does not look clumsy.
so posting many other indicators separately so any one can try it out separately and use it according to their trading style.
Update v.1 sniper rishijay trading system new arrow in arsenal
