Hello all...here is a question I believe MANY can benefit from MANY sharing their input: There seems to be a "raging debate" on using PRICE ACTION vs INDICATORS when trading the YM, ES, NQ or ER2.. *Price Action: (pivots, support and resistance, highs, los etc.) *Indicators: (MACD, MA, RSI, EMA etc.) QUESTION: What do you use and why?...why would you endorse PRICE ACTION over INDICATORS (or vice versa etc.) when trading the YM, NQ, ER2 or ES?...thanks for your time and answers...I believe many will benefit from the insight shared here...thanks!
There should be no debate. You use whatever makes you money consistently and stop wasting time trying to debate. If your account is growing, I do not think a debate on Price v. Indicators does anything useful especially when it is such a subjective individualistic approach.
Why not the best of 2 worlds. Pure price action can displayed if tick or volume charts are used. Putting indicator on such chart will make it more relevant (intra day trading only). Using fixed time fractals makes indicator noisier. Fixed time fractals should only be used if specific strategy requires it, like Spyderâs excellent thread where 5 min charts is used to draw channels. Regards, redduke
Indicators are only a manipulation of the price action that gives you a nice visual. Most are lagging.