Using the 5,2,3 Stochastics indicator I have hightlighted the extremes and the FTTs to establish some kind of pattern or criteria.
I have added 14, 1, 3 to the chart and again highlighted the extremes. I hope that Jack will chip in soon or later. A prosperous new year to all the readers
I think this journal will do a nice job of that. Congrats, callmate, looks like you're free Best Regards Oddi
I don't quite understand the use of indicators for trading channels... Isn't price and volume (or even just price in the case of FX) enough? I thought Spy got rid of indicators in his futures thread...
Correct, Spyder took indicators off his charts, we all concentrated on volume and price for the last 12 months or so. Some people have difficulty when making a decision whether they have an FTT at hand or not. This journal is to discuss whether we can use price volume and some of these indicators that Jack uses to give us an edge. Nothing more! A Prosperous to New Year to everyone
I see, well good luck in finding additional edge in those indicators. Just for myself I found that simpler the better and price itself gives enough information and such a simple approach makes trading decisions easier. Join to New Year greetings... Let this 2008 become the year of great trading discoveries for everyone!
I agree with you there, I like to keep it simple too, there is enough information in volume and price to make timely decisions but let's see if we can go a step further, if not no harm done
There are numerous posts with Jack's recommended use of indicators. This is a nice and concise quick find: