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Why so many indicators, oscillators, and tools on charts

  • #41
  • Aug 9, 2014 7:35pm Aug 9, 2014 7:35pm
Use whatever works for you.
  • #42
  • Aug 9, 2014 7:52pm Aug 9, 2014 7:52pm
I agree with what a few others have been saying.
Some traders are very good with several indicators & others need no indicators.

I know 2 very successful traders that make at least a million $ a year consistently just scalping the equity futures.
One trader uses mostly just moving averages but the other uses moving averages, 133 tick chart, stochastics, MACD, keltner channel, ADR, NYSE adv./decl., order flow, tape reading, custom bars, NYSE ticks chart, etc.... (I might have forgotten some but these are ALL definitely watched during the day). Pretty crazy how he can even remember to check the price chart :-)
  • #43
  • Aug 9, 2014 11:32pm Aug 9, 2014 11:32pm
this should move to rookie talk

You are asking something like " why people driving a car with GPS"
Never say no to PIPS
  • #44
  • Aug 10, 2014 4:41am Aug 10, 2014 4:41am
Quoting srt
I agree with what a few others have been saying. Some traders are very good with several indicators & others need no indicators. I know 2 very successful traders that make at least a million $ a year consistently just scalping the equity futures. One trader uses mostly just moving averages but the other uses moving averages, 133 tick chart, stochastics, MACD, keltner channel, ADR, NYSE adv./decl., order flow, tape reading, custom bars, NYSE ticks chart, etc.... (I might have forgotten some but these are ALL definitely watched during the day). Pretty...
Scalping is definitely in a class of its own in terms of what you use. However when looking for daily sentiment, indicators are more of a liability, IMHO.
The road to pipland is arduous and fraught with challenge.
  • #45
  • Aug 16, 2014 8:47pm Aug 16, 2014 8:47pm
Quoting traider
{quote} Scalping is definitely in a class of its own in terms of what you use. However when looking for daily sentiment, indicators are more of a liability, IMHO.
Scalping is definitely in a class


lol - Scalping - place your bet on black on let it run- lol
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  • #46
  • Aug 16, 2014 9:44pm Aug 16, 2014 9:44pm
Quoting TEB63
{quote} Scalping is definitely in a class lol - Scalping - place your bet on black on let it run- lol {image}
Perhaps, perhaps not. It's possible I should imagine to get a feel for momentum. I tend to stick to price but momentum is what I would want to excel at if I were scalping which I am not.
The road to pipland is arduous and fraught with challenge.
  • #47
  • Aug 17, 2014 1:20am Aug 17, 2014 1:20am
Why so many indicators, oscillators, and tools on charts?

... Because it's pretty to look at while the losses mount.
  • #48
  • Aug 18, 2014 6:25pm Aug 18, 2014 6:25pm
how many tools do you need -I could at lest 17 tools on this chart
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  • #49
  • Aug 18, 2014 6:40pm Aug 18, 2014 6:40pm
All the pretty lines in the world ain't gonna help you.
  • #50
  • Aug 18, 2014 6:55pm Aug 18, 2014 6:55pm
The MOST "indicators" you should ever need on a chart is TWO...

I'm not going to tell you what they are. I will leave that up to you, to find it out on your own.

HINT: Search my history
Please check out my blog at https://from-zero-to-hero . net
  • #51
  • Aug 18, 2014 7:10pm Aug 18, 2014 7:10pm
Can't use those systems full of useless indicators and need bunch of them confirming eachother to get a direction. All I need is 2 simple MAs ... nothing more.
  • #52
  • Aug 19, 2014 10:17am Aug 19, 2014 10:17am
Quoting cenetti
Can't use those systems full of useless indicators and need bunch of them confirming eachother to get a direction. All I need is 2 simple MAs ... nothing more.
Yep

That's it
1. Trend (or strength- same tools)
2. Trigger

other then Volume - everything else is the same - The very same

why use 60 sma & Macd & ADX & RSI for Trend
then an other RSI and a Stoch and a 5 & 12 EMA and a CCI for trigger
makes no sence
  • #53
  • Aug 19, 2014 4:55pm Aug 19, 2014 4:55pm
Quoting smash1820
The MOST "indicators" you should ever need on a chart is TWO... I'm not going to tell you what they are. I will leave that up to you, to find it out on your own. HINT: Search my history

lol lol do tell lol
  • #54
  • Aug 19, 2014 5:02pm Aug 19, 2014 5:02pm
By using too many indicators, your messy chart won’t be useful. This is the case of “analysis paralysis“. Over analysis can hide obvious opportunities that you could spot if there weren’t so many lines on the chart.

http://www.forexcrunch.com/3-indicat...n-be-too-much/
  • #55
  • Aug 20, 2014 7:42am Aug 20, 2014 7:42am
Quoting TEB63
{quote} Scalping is definitely in a class lol - Scalping - place your bet on black on let it run- lol {image}
yes, but only for those who can't read a chart...
First rule is not to lose. Second rule is not to forget the first rule...
  • #56
  • Aug 20, 2014 5:58pm Aug 20, 2014 5:58pm
Quoting Forexcube
By using too many indicators, your messy chart won’t be useful. This is the case of “analysis paralysis“. Over analysis can hide obvious opportunities that you could spot if there weren’t so many lines on the chart.
//-----

and using too few might land some of us on the wrong side of that proverbial 90% line.....

i probably use more indicators than anyone..... few would believe how many......however, they are not displayed in the common manner but instead in a whole market view in an easy to grasp manner..... just wingdings and numbers.... it's very seldom i even look at the standard price chart......

even 50 indicators can be reduced down to colored dots..... lime buy..... red sell...... blue wait...... how much more difficult do we need to make it.......h

//------
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to trade and code, keep both simple... no call to impress....h
  • #57
  • Aug 20, 2014 6:07pm Aug 20, 2014 6:07pm
Quoting hayseed
...... even 50 indicators can be reduced down to colored dots..... lime buy..... red sell...... blue wait...... how much more difficult do we need to make it.......
Very elegantly displayed summary IMO.
  • #58
  • Aug 20, 2014 6:47pm Aug 20, 2014 6:47pm
Quoting hayseed
{quote} //----- and using too few might land some of us on the wrong side of that proverbial 90% line..... i probably use more indicators than anyone..... few would believe how many......however, they are not displayed in the common manner but instead in a whole market view in an easy to grasp manner..... just wingdings and numbers.... it's very seldom i even look at the standard price chart...... even 50 indicators can be reduced down to colored dots..... lime buy..... red sell...... blue wait...... how much more difficult do we need to make it.......h...
Nice
MT4/MT5 EAs/Indicators/Alerts coder
  • #59
  • Aug 21, 2014 2:07pm Aug 21, 2014 2:07pm
My best indicator is the market sentiment from the most popular brokers like OANDA: http://fxtrade.oanda.com/analysis/open-position-ratios.
This indicator shows the real sentiment of traders and it often shows the market movements before it happened. This indicator can show the situation when there are no more byers or sellers to prevent continue of the trend.
  • #60
  • Aug 21, 2014 5:31pm Aug 21, 2014 5:31pm
Quoting hayseed
{quote} //----- and using too few might land some of us on the wrong side of that proverbial 90% line..... i probably use more indicators than anyone..... few would believe how many......however, they are not displayed in the common manner but instead in a whole market view in an easy to grasp manner..... just wingdings and numbers.... it's very seldom i even look at the standard price chart...... even 50 indicators can be reduced down to colored dots..... lime buy..... red sell...... blue wait...... how much more difficult do we need to make it.......h...

LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL
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is that 50?
go for the green lol
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