Which indicators do YOU recommend and why ? I have been using Macd, RSI, Mov averages etc. for years with mixed results. Perhaps you favour a mixture of 2 or more indicators to compliment each other ??
I am using all of those and the 9, 20, and 50 DSMA. I also look for a big green volume spike within a few months prior indicating institutional new interest. Avoid big red volume spike indicating institutional pull out. I don't buy more than 1 week after a big run, I dont care how much momentum. I don't buy anything much above the 20 DSMA. I try to keep macro trends in mind. Favoring recovering financials and industrials. Keeping and eye on healthcare waiting for more news on Obamacare. Healthcare stocks would need a very strong story for me right now. I am starting to look at seasonality and will be adding more energy for Feb-May. Also watching recovering media. NYT GCI NWS I am long PG PDS AIRT MEND LYG MO GIII BCR and CIM. CIM is more of longer term hold. Short SWIR Went into most of these last week, hopefully out of them in a week or two.
If you can interpret it correctly this is one of the best indicators that combine price action patterns and backtest results in a single measure: Price action indicator I hope some platform will implement it because I cannot afford it.
+1 Learn how to trade price, THEN add the indicators YOU already know very well from 'years' of experience.
Pivot points is a no brainer and works, but not on all equities, if the 5 min candles touch a pp repeatedly and don't cross it then it is an indication that the trend is about to reverse, if it crosses the pp, then expect it to touch the next pp. Lots of pros use it and that's why it works. It doesnt work every time of course but it's a nice simple and free indicator