Which Indicator Best Represents Price Action | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Which system is the best? Or which combinations of systems work the best? 46 replies

Which is the BEST indicator and why 16 replies

Which indicator works best for divergence? 46 replies

Which is the best indicator? 3 replies

which pairs to watch at which open/close 5 replies

Attachments: Which Indicator Best Represents Price Action
Exit Attachments

Which Indicator Best Represents Price Action

  • #1
  • First Post: Jun 4, 2014 12:43am Jun 4, 2014 12:43am
Dear Senior Traders,

I am looking for an indicator that represent price action. Like RSI below 30 oversold but sometime when it comes back to 80. price is down. stoc is same, william r% is the same, Please anyone help me to find out something that work for 4h or 1m chart for scalping. MFI works a little bit fine on 1min chart but not too much successful.

Please helps.
  • #2
  • Jun 4, 2014 12:58am Jun 4, 2014 12:58am
The best indicator you will ever find is your eyes.

No matter the timeframe you are looking at ... zoom out your chart and you will see clearly what the price is doing.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Jun 4, 2014 12:59am Jun 4, 2014 12:59am
Just a simple moving average is enough. In my case the EMA 20 is more than enough
  • #4
  • Jun 4, 2014 1:06am Jun 4, 2014 1:06am
Quoting Danny Maina
Just a simple moving average is enough. In my case the EMA 20 is more than enough
How to trade on the EMA 20 then on 1Min Chart?
  • #5
  • Jun 4, 2014 1:11am Jun 4, 2014 1:11am
I want something like this that give exact results
http://i61.tinypic.com/2dtb2iw.png
  • #6
  • Jun 4, 2014 1:16am Jun 4, 2014 1:16am
Quoting Danny Maina
Just a simple moving average is enough. In my case the EMA 20 is more than enough
I agree with you, but is there something specific that goes up and down with the price exact, I mean in levels. like MFI etc
  • #7
  • Jun 4, 2014 1:37am Jun 4, 2014 1:37am
Quoting copymeetoro
Dear Senior Traders, I am looking for an indicator that represent price action. Like RSI below 30 oversold but sometime when it comes back to 80. price is down. stoc is same, william r% is the same, Please anyone help me to find out something that work for 4h or 1m chart for scalping. MFI works a little bit fine on 1min chart but not too much successful. Please helps.
There is no indicator that can represent Price Action.
Price Action is the indicator.
  • #8
  • Jun 4, 2014 1:42am Jun 4, 2014 1:42am
The indicator representing the price is the Simple Moving Average period 1 applied to close.
MT4/MT5 EAs/Indicators/Alerts coder
  • #9
  • Jun 4, 2014 1:45am Jun 4, 2014 1:45am
Let say we have 1H Chart
Which Two EMA will give buy sell signals ?
Any idea ?
  • #10
  • Jun 4, 2014 2:01am Jun 4, 2014 2:01am
Quoting copymeetoro
Let say we have 1H Chart Which Two EMA will give buy sell signals ? Any idea ?
You can get entry points with any indicator.

In your example of 2 MAs, depend on what kind of trader you are (or want to be ) ... higher period for long term trading ... lower period for scalping/day trading.
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Jun 4, 2014 2:09am Jun 4, 2014 2:09am
I want to be a day trader
  • #12
  • Jun 4, 2014 2:51am Jun 4, 2014 2:51am
I want to be day trader...................... pls help
  • #13
  • Jun 4, 2014 2:59am Jun 4, 2014 2:59am
Quoting copymeetoro
I want to be day trader...................... pls help
The very first thing if you want to be a trader would be to learn patience ... You seem to have some lack on this !

As you seem to be very new to trading, I would highly suggest you to start here : http://www.babypips.com/
MT4/MT5 EAs/Indicators/Alerts coder
  • #14
  • Jun 4, 2014 5:06am Jun 4, 2014 5:06am
Quoting FerruFx
The best indicator you will ever find is your eyes.
Can you code an eyes indicator?
Bottomless wonders spring from simple rules, which are repeated without end
  • #15
  • Jun 4, 2014 5:27am Jun 4, 2014 5:27am
Quoting limprobable
{quote} Can you code an eyes indicator?
Yes of course
MT4/MT5 EAs/Indicators/Alerts coder
  • #16
  • Jun 4, 2014 10:36pm Jun 4, 2014 10:36pm
There is no use of this forum. Patience is virtue I know this but No one is replying about the stuff I want. It is only chit chat forum I think.
  • #17
  • Edited 11:16pm Jun 4, 2014 11:06pm | Edited 11:16pm
Quoting copymeetoro
There is no use of this forum. Patience is virtue I know this but No one is replying about the stuff I want. It is only chit chat forum I think.
indicators are useless, use your brain instead.goodluck
  • #18
  • Jun 4, 2014 11:12pm Jun 4, 2014 11:12pm
Sorry , not consorting nor declining ... NONE ... unless you go to woody .... the saying there is , who need the price ....
  • #19
  • Jun 4, 2014 11:26pm Jun 4, 2014 11:26pm
Quoting copymeetoro
There is no use of this forum. Patience is virtue I know this but No one is replying about the stuff I want. It is only chit chat forum I think.
Try this. Currently i prefer M5 for scalping, Parameter in minute = 96 minute, term use 0. Or if you use higher number (it is CCI level). Rule is blue signal a long entry, red a short entry. Look at the lenght of EMA color (it is an EMA but i customized to be color coded for the signal).
The rule is not absolute, look at it, and see if you can spot the useful pattern. Play with the parameter too. You can zoom in and out, and still not losing the indicator signal.
Happy hunting.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm5.png Size: 37 KB
Attached File(s)
File Type: mq4 SlingShot.mq4   4 KB | 559 downloads
Don't blame the tools. Blame the carpenter.
  • #20
  • Jun 4, 2014 11:32pm Jun 4, 2014 11:32pm
Quoting copymeetoro
There is no use of this forum. Patience is virtue I know this but No one is replying about the stuff I want. It is only chit chat forum I think.
So you should ask yourself why you don't get reply ... Maybe the way you are requesting isn't the right one ...

Insisting/asking again in the thread after 30min without an answer is an example of the lack of patience I was talking earlier.
MT4/MT5 EAs/Indicators/Alerts coder
0 traders viewing now