Hey all, I trade the er2 (or tf now) and sp500 using mostly the macd indicator. I mostly look at the 1 minute and 5 minute charts. I keep it simple, so I am guessing there are other traders who have a similar style. If there are a couple of us, I would love to start a chat group. Please reply. Roy
**what are your MACD settings? **what are your **do you look at the 1 minute or 5 minute more? **do you trade the TF or ES more? **how long do you trades last? 3,5,10 minutes etc.?
I also use MACD as my primary indicator. I look to buy when the MACD is above zero and above signal but near zero. Sell to open when the MACD is below zero and below signal near zero.
I mostly look at the ER2. My best set up is looking at the Difference (DIFF on the charts i guess) and watching for trend changes on the 1 minute. The Diff is the difference btw the moving average and the MACD on your chart. I enter if there is a new low after a series of higher highs or a higher low after a series of lower lows on the Diff. My settings are (5,34). I look to get 18 ticks but will be more aggressive depending on how far the MACD is from the 0 line, and what the five minute DIFF looks like. Stop losses are the highs of the last price bar or a major S/R if its closer. I don't like risking more than 5-8 ticks. There is a lot of room to make this better and a lot of it depends on the trader sticking to the plan, but it offers a good amount of opportunities. Does anyone have a similar/better approach they would like to share? Lets make this a useful thread! Roy