I use a 20 EMA. It's not an indispensable indicator, but it's like having streetlights when riding a bike at night.
I love to use Camarilla pivot for intraday setups. They provide a ton of clarity as to buy and sell signals so I know exactly the trend in place.
Given all of these price points, exactly how does it show the trend ? Definition of 'Camarilla Pivot Points' The formula used in the calculation of Camarilla Pivot Points are: R4 = C + RANGE * 1.1/2 R3 = C + RANGE * 1.1/4 R2 = C + RANGE * 1.1/6 R1 = C + RANGE * 1.1/12 PP = (HIGH + LOW + CLOSE) / 3 S1 = C - RANGE * 1.1/12 S2 = C - RANGE * 1.1/6 S3 = C - RANGE * 1.1/4 S4 = C - RANGE * 1.1/2 Where R1 through R4 are Resistance levels 1 to 4, PP is the Pivot Point, S1 through S4 are support levels 1 to 4, RANGE is the High minus the Low for the given time frame (usually daily). C stands for the Closing price.
Thank you for your replies. I'm mostly interested in momentum indicators, I think. I will soon start my studies.
Good momentum indicators are RSI and MACD'S histogram, I use both daily. No holy grail here mate, money management ought to keep one ahead of the game.
Thank you. Do you mind sharing how you use them? Did you spend a lot of time fine-tuning these indicators to suit your purposes?
In my case fine tuning equates to screen time, haven't counted, probably many hundreds of hours, perhaps more. I haven't adjusted any settings. Basically, if overall uptrend is strong, then I look for buying opportunities upon a retracement, RSI points to oversold, histogram points to buildup of sentiment.