Hey guys. I am a swing trader attempting to find a suitable combination of indicators to use in conjunction with one another. I then hope to scan various markets and find some set ups. Lately I have been using the MACD, Pivot, (with support and resistance), and 5 period and 10 period simple moving averages in conjunction. I have back tested some and it seems decent. But just to confirm the confirmation of my confirming indicators, I'd like to confirm with some people on here first! Anyways, my logic is in the photo. If you see any errors, or false indicators, or maybe some insight as to why these 3 indicators don't or shouldnt be used in conjunction, I'd really appreciate it. *i havent included my stops, but I reckon it would lie somewhere around the 690-693 range...my hold time will be longer that a day, and likely close to 1-3 weeks.
You can look and look and never find the perfect formula. I spent hours and hours back testing all types of combinations of indicators using AmiBroker. I have found using moving averages and a few other indicators/calcs to get a idea of market direction to show when is the best time to be long, short, or stand aside. The best you can do it setup a method on an index (SP500, NASDAQ) that shows it is a good time to be long or short. Then look for specific setups on stocks. Personally my setups are all classical patterns. Easy to spot, easy to trade, and most of the time nothing but price and volume are on my charts.
thanks for the response, currently i'm tinkering with a moving average and a TSI....before i was using multiple moving averages, pivots, and a stoch cross...im still relatively new so a lot more practice is needed.