Opening range breakout, a classic, popularized by Toby Crabel - in his now famous book “Day Trading With Short Term Price Patterns” - and later by Jake Bernstein with his 30-min opening range breakout (from his book "The Compleat Day Trader"). Once again you really know your stuff Mr. Calhoun, respect.
Let's dial in on the chart its self. What kind of chart bars work best for you? Time based bars, range bars, tick charts. delta volume bars, etc
i can say one thing for sure - from personal experience: it is easy to get on the wrong road and keep travelling on it, for a long long time, with the mistaken notion that you are going somewhere. so it is not whether we use market structure, price action, indicators, market breath ,momentum, but whether we know where we want to go. The thread topic highlights a basic dilemma and decision that has to be faced.at the start. both price action and indicators measure the same thing on the chart. Indicators suffer from one disadvantage: the look back period which is always fixed. which means it compares present conditions to conditions present X periods away. RSI compares present relative strength to the relative strength X periods away. Price action, market structure has no such restriction and so is more flexible. but both gives the same information A fixed look back period is what makes indicators, IMO, totally absurd. it is useful but it may be useful maybe 10% of the time,IMO. there is one thing all traders look for and it is strength of the market which determines market direction.
I mean, I have a few moving averages going along with volume, but I could trade without them. I draw trendlines, but honestly, I can usually see the trend without the lines. I rely on candles though. I trade price action. I'd be just fine if all I had was candlesticks and a cup of Ben and Jerry's Fudge Brownie Ice Cream.
i should point out since there are a large number of traders that use indictors quite successfully, that using indicators is not totally without reason: in fact it is ideal for those who have just started learning to trade and have not who have not yet learnt the intricacies of trading. there is no judgement required in reading the indicators and there is no ambiguity in between the buy and sell signals: although these may not be always correct. this is an advantage because it eliminates second guessing. all these advantages of indicators mentioned above are, ironically, also it's disadvantages [!!!!!!!!!!!!!]because it is rigid and allows no minor fine tuning. which is why experienced and established traders find that it is lacking finesse and power price action requires a lot of judgment....and experience.......and the biggest problem is that this is not easy to explain and very difficult to teach or understand....