What is your favourite indicator and why ?

Quoting TheRumpledOne

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I don't know. NO ONE KNOWS.

Things change of course.

But I usually don't have to keep it for months.

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Quoting swingkong

Disliked

Mine is the flip of a quarter; heads, go short, tails, go long.

Less stress.

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Quoting TheRumpledOne

Disliked

Take profit when you can!!

Sometimes it is only 2 pips. Sometimes it is 3 or more.

I exit when I see the price action stall... that simple.

Stop loss? STOPS ARE FOR SISSIES!

I do NOT suggest that YOU trade without stops.

I can make a profit with 2 pips at my broker. So I usually don't think about losing.

If I am on the wrong side of the trade, I ride it out for days, weeks, months if I have to. I don't care because they pay me interest everyday rather than me paying them interest. I only trade in the direction that pays me interest. Simple.

But when I trade in the direction of the 60 minute candle, rarely do I have to wait long to take profit.

All you have to do is look at a 60 minute chart of your favorite pair and it will hit you right between the eyes once you SEE IT!!

I notice the rsi(8) and ema(8) method seems to agree with the candle color of the 15 minute candles... once again SIMPLE!

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Quoting taxgeek

Disliked

This is a hi -lo indicator. It gives a signal based on historic highs and lows within its lookback period and rather like the zig zag tries to predict the future. It's not more than 50% accurate and, you can't trade on the basis of it alone. It must be used with other indicators like in the Tlatomi method. I use it in conjunction with the cross of an 8 period Triple Hull RSI. If the RSI crosses the signal line, trade. If it doesn't, the Silver Trend is wrong and will repaint itself to another position or disappear altogether.

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Quoting A1Cruiser

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Hi Taxgeek,

Would mind posting here your Triple Hull RSI indicator? It sounds interesting but I don't know this one.

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Quoting taxgeek

Disliked

Sure thing. It does pretty much the same thing as Fozzy's MA Cross, but it seems to get there a bit quicker.

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Quoting TheRumpledOne

Disliked

Take profit when you can!!

Sometimes it is only 2 pips. Sometimes it is 3 or more.

I exit when I see the price action stall... that simple.

Stop loss? STOPS ARE FOR SISSIES!

I do NOT suggest that YOU trade without stops.

I can make a profit with 2 pips at my broker. So I usually don't think about losing.

If I am on the wrong side of the trade, I ride it out for days, weeks, months if I have to. I don't care because they pay me interest everyday rather than me paying them interest. I only trade in the direction that pays me interest. Simple.

But when I trade in the direction of the 60 minute candle, rarely do I have to wait long to take profit.

All you have to do is look at a 60 minute chart of your favorite pair and it will hit you right between the eyes once you SEE IT!!

I notice the rsi(8) and ema(8) method seems to agree with the candle color of the 15 minute candles... once again SIMPLE!

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Quoting taxgeek

Disliked

Sure thing. It does pretty much the same thing as Fozzy's MA Cross, but it seems to get there a bit quicker.

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Quoting Miguel76

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I too like to trade in the direction of positive interest rollover

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Quoting summitfx

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As a full-time trader (8 years), I was trained as a COES Bandit. This invloved sniper trading. We basically traded high flying stocks like AOL in the late ninties and used the futures (Spooz and Nooz) to determine the entry points. Trades would last anywhere form 30 seconds to 15 minutes. It was rapid fire in and out. At the end of the trading day you were totally exhausted and hopefully in the green. Today, I still have the need to "push" the button and make the trade. I also have an account that I trade only daily and 4 hour charts (swing trades) Through various methodologies on the FF, I have settled into a profitable scalp trade routine. My favorite session is pre London session (12pm mtn time) and the London session (1am). It's a very simple trigger of lines crossing lines. I turn off all monitors but 1 and focus soley on the enlarged chart and block out all noise. I don't care about others opinions of where they think the currency is headed etc. Focus and react. If you use 2 lots or $20 pip profits, you only need 5-10 pips to make $100-$200 per trade. It's rapid fire and you only take the trades on the cross. As you get better, you can filter out trades and only go with the prevailing trend etc.. On a decent day, I can easily make $500-1000 per day with very little effort. Below is the chart. Candlesticks with an 8p RSI and 8MA in one window. It's self explanatory but it's fun and profitable. Sweep your profits into longer term trades that suits you best. Here it is- feel free to give it a go~

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Quoting athalon7

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SummitFX- From re-reading the posts, the 8MA discussed HERE is lwma, correct?

Also- From what I gather, you cannot put a MA8 in the same window as the RSI, or can you (With MetaTrader)?

If you can, please let me know how, if you cannot, is the picture you posted a custom indicator? (Because the FiboPiv v2 is just support/resistance levels)

Thanks.

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Quoting smjones

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In the navigator window to the left of the chart, select indicator (not custom indicators), then drag the Moving average indicator in the list onto the RSI indicator in your chart. Then just set it up like you would any other Moving average indicator.

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Quoting athalon7

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When I try that and drag the lwma8 into the RSI area, it still sets it up onto the main chart window??? Even when I uncheck "show in the data window" (Thanks for the response)

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Quoting smjones

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In the parameters section, select apply to first indicator data.

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