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Author Topic: best indicator hunt ?  (Read 326 times)
bitcub
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June 29, 2021, 06:19:24 AM
 #21

I am using the same indicators, RSI, MACD, & BB. I think this 3 powerful tools is just enough to make swing trade or day trade.

In tradingview, under indicators and strategies. There are a lot more uncommon scripts both free and paid that you could use. Just explore them by clicking on;
- Built-ins
- Candlestick patterns
- Public Library
- Volume profile

Personally i prefer the indicators you call common like RSI, MACD, Bolliger Bands. There's a reason they are common  Smiley

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June 30, 2021, 11:08:31 PM
 #22

I don't actually use indicator just the volume and the trend lines that's what I use, honestly I get a good profit out of it but it's not perfect and the success rate is less than 60% but right now I am studying some indicators I think it would be effective if add those indicators with the trend line and the others.
before we use the indicator, we must know the weaknesses and strengths of the indicator, because not every signal that is presented will always be correct, and usually I combine it by looking for areas of support and resistance to take action

give me your hypothesis regarding the relationship of indicator trading to crypto trading success from your perspective based on the advantages and disadvantages you know so far. because all can see in terms of advantages and disadvantages when he gets the comparison method used. but if you only use one indicator and a basic trading strategy can it still be said to be a legitimate point of view?
indicators tools was lagging signal , we can see in many example such as rsi or other oscilators tools give late signal or even signal. Have you see RSI or oscilators Indicators in Oversold or Overbought level but price still continues drop or rise. And even divergence convergence signal not work if not confirmed by other technique. Basic trading analisys which is based on SnR or price analisys will help us which level is strong or valid point to entry and exit. Make trading simple with less indicators and focus on price will help us alot.
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July 02, 2021, 02:59:45 PM
 #23

I don't actually use indicator just the volume and the trend lines that's what I use, honestly I get a good profit out of it but it's not perfect and the success rate is less than 60% but right now I am studying some indicators I think it would be effective if add those indicators with the trend line and the others.
before we use the indicator, we must know the weaknesses and strengths of the indicator, because not every signal that is presented will always be correct, and usually I combine it by looking for areas of support and resistance to take action

give me your hypothesis regarding the relationship of indicator trading to crypto trading success from your perspective based on the advantages and disadvantages you know so far. because all can see in terms of advantages and disadvantages when he gets the comparison method used. but if you only use one indicator and a basic trading strategy can it still be said to be a legitimate point of view?
indicators tools was lagging signal , we can see in many example such as rsi or other oscilators tools give late signal or even signal. Have you see RSI or oscilators Indicators in Oversold or Overbought level but price still continues drop or rise. And even divergence convergence signal not work if not confirmed by other technique. Basic trading analisys which is based on SnR or price analisys will help us which level is strong or valid point to entry and exit. Make trading simple with less indicators and focus on price will help us alot.
I also take the example for the moving average indicator, where sometimes the price breaks through the moving average line, and continues its steps, as if the price does not react to the indicator. so we have to take a stand when that happens. suppose we use a cutloss to reduce the risk of a bigger loss, so we still have another chance to find a profit again

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July 03, 2021, 11:44:19 AM
 #24

Other than going for an indicator I would rather advice you build on your own trading psychology so has to have a good trading plan because indicators alone can make your trades poor and unprofitable. It's wiser you build on your self as such if you apply indicators to your chat they will serve as confirmation signals and not as leading signals because most indicators follow the market moves and can't predict the next move of a moving trade.
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July 03, 2021, 12:59:01 PM
 #25

No matter what we do...
No matter how many indicators we use...
It all still lies in your final decision. You'd rather have to stop wasting your time looking a strategy that could give you everything you wanted because that all seem impossible to find.

Please remember that there is no easy play in trading. Having those number of trading tools only makes you crazy about what you will be going to follow, if you just focus on 1-2 trading tools, might be easier for you to understand.

R


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July 03, 2021, 07:25:50 PM
 #26

Other than going for an indicator I would rather advice you build on your own trading psychology so has to have a good trading plan because indicators alone can make your trades poor and unprofitable. It's wiser you build on your self as such if you apply indicators to your chat they will serve as confirmation signals and not as leading signals because most indicators follow the market moves and can't predict the next move of a moving trade.
Indicators are what make you a good trader in the long term if you know how to use them but you are right you have to work on yourself as well. So, I would say that combine those two things together and you got yourself a good deal. Learn about both the trading world and how indicators work and how everything works, when you become very good at that then you can start to actually work on yourself and what type of trader you think you are.

After you got both of them down and learn them very well, you can start to combine those things and use what type of trader you are into the indicators you know and create something good. Not all indicators work for all people, some of them are good for certain people and some of them are bad for them, it is all depending on what type of person you are. This way everyone can create their own unique experience.

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nelson4lov
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July 03, 2021, 11:23:41 PM
 #27

No matter what we do...
No matter how many indicators we use...
It all still lies in your final decision. You'd rather have to stop wasting your time looking a strategy that could give you everything you wanted because that all seem impossible to find.

Please remember that there is no easy play in trading. Having those number of trading tools only makes you crazy about what you will be going to follow, if you just focus on 1-2 trading tools, might be easier for you to understand.

The same way its unethical to use unnecessary drawing tools like support and resistance that fill up the chart, it's the same as using multiple indicators especially if some/all of the indicators used are invalid for the market trend at that time. Most beginner traders feel that using that many indicators in chart makes them look cool and professional-like but the reverse is usually the case. These days, I've graduated from applying any indicator apart from the 200MA and 50MA then I focus more on price action trading.

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July 03, 2021, 11:37:23 PM
 #28

No matter what we do...
No matter how many indicators we use...
It all still lies in your final decision. You'd rather have to stop wasting your time looking a strategy that could give you everything you wanted because that all seem impossible to find.

Please remember that there is no easy play in trading. Having those number of trading tools only makes you crazy about what you will be going to follow, if you just focus on 1-2 trading tools, might be easier for you to understand.
Also indicators is not guaranteed so make sure that you always do a good decision and you believe on that with all your heart. There’s so much Indicators that we can use every time we trade, it will just depend on how much knowledge do you have to use that indicators in favor to you. I used the price, the volume, MA’s, RSI and MACD because it works for me most of the time.
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July 04, 2021, 04:52:03 AM
 #29

No matter what we do...
No matter how many indicators we use...
It all still lies in your final decision. You'd rather have to stop wasting your time looking a strategy that could give you everything you wanted because that all seem impossible to find.

Please remember that there is no easy play in trading. Having those number of trading tools only makes you crazy about what you will be going to follow, if you just focus on 1-2 trading tools, might be easier for you to understand.
Also indicators is not guaranteed so make sure that you always do a good decision and you believe on that with all your heart. There’s so much Indicators that we can use every time we trade, it will just depend on how much knowledge do you have to use that indicators in favor to you. I used the price, the volume, MA’s, RSI and MACD because it works for me most of the time.

Based on my own experience, trading is not easy, In fact, I often experience losses even though I have used a lot of indicators to help analyze
price movements in the market. As you said, indicators do not guarantee that we will be successful in trading. Therefore sometimes having
trading experience is important, to be able to help us avoid some mistakes when we trade. This means that being a successful trader requires
many factors and it may take a long process, in order for us to really master trading.

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July 04, 2021, 01:41:48 PM
 #30

No matter what we do...
No matter how many indicators we use...
It all still lies in your final decision. You'd rather have to stop wasting your time looking a strategy that could give you everything you wanted because that all seem impossible to find.

Please remember that there is no easy play in trading. Having those number of trading tools only makes you crazy about what you will be going to follow, if you just focus on 1-2 trading tools, might be easier for you to understand.
Also indicators is not guaranteed so make sure that you always do a good decision and you believe on that with all your heart. There’s so much Indicators that we can use every time we trade, it will just depend on how much knowledge do you have to use that indicators in favor to you. I used the price, the volume, MA’s, RSI and MACD because it works for me most of the time.

Based on my own experience, trading is not easy, In fact, I often experience losses even though I have used a lot of indicators to help analyze
price movements in the market. As you said, indicators do not guarantee that we will be successful in trading. Therefore sometimes having
trading experience is important, to be able to help us avoid some mistakes when we trade. This means that being a successful trader requires
many factors and it may take a long process, in order for us to really master trading.
I once use all sort of indicators on my trading chart but Lo and Behold these resulted to many conflicting signals among those indicators whenever I wanted to place a trade, thereafter I gradually discarded almost those indicators leaving RSI to indicate overbought and oversold zones and SMA just for trend direction and I now really on Price Action and candlestick patterns although I am not an expert yet but these are the real indicators that determine the trend, price reversal and price continuation all these are classified as TA meanwhile  I am working on my emotional and psychological aspect of trading
my belief is that with time I will gain more experience in trading.

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July 04, 2021, 02:16:55 PM
 #31

Well we have to admit that indicators makes trading life soo simple and easy not only that because of indicators lots of beginners are achive there goals plus we also can easily understand the market situation. Well there has lots of indicators and all indicators also not working properly and some might be working for you. Everyone has a different choice for there trading journey. Here is mine choosing 5 indicators its suit for me. It could be suit for you or not. Its entirely your decision.

1: MYC.
2: RSI.
3: Bollinger Bands.
4: MA.
5: MACD.
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July 05, 2021, 02:32:24 PM
 #32

No matter what we do...
No matter how many indicators we use...
It all still lies in your final decision. You'd rather have to stop wasting your time looking a strategy that could give you everything you wanted because that all seem impossible to find.

Please remember that there is no easy play in trading. Having those number of trading tools only makes you crazy about what you will be going to follow, if you just focus on 1-2 trading tools, might be easier for you to understand.
Also indicators is not guaranteed so make sure that you always do a good decision and you believe on that with all your heart. There’s so much Indicators that we can use every time we trade, it will just depend on how much knowledge do you have to use that indicators in favor to you. I used the price, the volume, MA’s, RSI and MACD because it works for me most of the time.

Based on my own experience, trading is not easy, In fact, I often experience losses even though I have used a lot of indicators to help analyze
price movements in the market. As you said, indicators do not guarantee that we will be successful in trading. Therefore sometimes having
trading experience is important, to be able to help us avoid some mistakes when we trade. This means that being a successful trader requires
many factors and it may take a long process, in order for us to really master trading.
I once use all sort of indicators on my trading chart but Lo and Behold these resulted to many conflicting signals among those indicators whenever I wanted to place a trade, thereafter I gradually discarded almost those indicators leaving RSI to indicate overbought and oversold zones and SMA just for trend direction and I now really on Price Action and candlestick patterns although I am not an expert yet but these are the real indicators that determine the trend, price reversal and price continuation all these are classified as TA meanwhile  I am working on my emotional and psychological aspect of trading
my belief is that with time I will gain more experience in trading.
the more we use indicators, the more we get dizzy, because not all indicators give the same signal at the same time. therefore I think 2 indicators are enough to start trading. so that when the two indicators state the same signal, then we can make a transaction. and most importantly we also provide risk tolerance limits if our analysis is wrong

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July 06, 2021, 06:11:47 PM
 #33

All indicators are good and have the benefit of seeing market trends. Just how can we use it and understand the indicator, there are probably hundreds of indicators available for free that can be used as best as possible. The most important thing is that we know about technical analysis well and balanced with fundamental analysis. Don't rely too much on indicators. quite a few indicators but you understand. too many indicators will confuse you.
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July 08, 2021, 02:29:29 AM
 #34

there is no best indicator, everything is good, it's just that we have to be able to use it well. that's where the art of trading is, where even though we use indicators, we are required to keep thinking logically and controlling emotions. I think by using as simple an indicator as possible, we will not take much consideration in determining the order

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