Best/useless Indicators/studies for 1min and 5min?

Discussion in 'Technical Analysis' started by jtnet, Aug 17, 2006.

  1. jtnet

    jtnet

    I use esignal presently and trade NYSE 2 mill to 8mill volume stocks.
    And i tend to just load my 1 min and 5min with all kinds of stuff, S&P tick overlay, para SAR, rsi, MACD, volume, stocastic, bollinger band.
    which are useless and which are actually helpfull for scalping and very short time frames or if there are any custom indicators that are helpfull. thanks all.
     
  2. nkhoi

    nkhoi Moderator

    take them all off, put them back one per week and see which one you can live without, there is no best indicator only best fit for you indicator.
     
  3. Bollinger and Keltner can be good for scalping when price gets to far from the mean, look for a snap back. The trick is finding the right time frame. The other indicators mentioned lag too much IMO.
     
  4. jtnet

    jtnet

    im not looking for a holy grail, i kind of use them all at once to determine a reversal or when it starts to pop away from support or resistance. once all are showing the same type of signal i know somthing may be in play very soon.
     
  5. one one min bars, price is your oscillator?
     
  6. nkhoi

    nkhoi Moderator

    do all 7 of them have to point in the same direction or can you get by with, say 3?
     
  7. Best 1 minute indicator:
    20, 50, and 200 intra-day moving averages and price action.

    Best 5 minute indicator:
    Suport & Resistance lines and trendlines.
     
  8. I always have the 50 simple moving average

    its the only "Common" indicator I use.

    The one thing is, none of my entries come from that indicator

    I don't think I have looked at it lately , its just sitting there from last year,

    Never thought of taking it off
     
  9. jtnet

    jtnet

    ill have to take a look at price action
     
  10. jtnet

    jtnet

    what indicator in ESIGNAL is price action and how do u use it? -j
     
    #10     Aug 22, 2006