I need some good indicators for intraday trading. Anyone got any suggestions? I know MACD is usable, but what else?
BUMP After some research and experimenting, it seems stochastics, MACD and bollinger bands are pretty good intraday indicators. Along with an L2 of course. Any other suggestions?
You must learn that if you find something that seems like it's useful...concentrate only on that and master it instead of wasting time & energy trying to learn other stuff. Heck, the stuff you mention should be enough to keep anyone busy for many years and hopefully you're profitable via such. Last of all, just a reminder, trade signals are only a piece of the puzzle to profitable trading. Thus, don't forget all that other stuff like money management, proper capitalization, discipline, stress management, market experience and so on because on any given trading day one of these pieces to the puzzle will have the most impact on your trading results. Mark
There are two things that needs to be Clear: 1 - Entry 2 - Trade Management/Exit None of the Indicators gives you absolute Entries, IF you solely depend on them - you will miss or be late in entries. Then its all upto the mercy of the trend. Price action/L2/ Tape + Trend Analysis + Relative Strenght are some of the tools to ANTICIPATE a moe/trend Mastering Anticipation is only possible whn you have enuf experience and screentime. So, Get ready to GLue yourself to the screen for thousands of hours....!! You are welcome.
Yeah indicators are worthless. They help some guys build a decision making system, which is fine. Indicators show the past not the present = waste. Price Action / Level 2 tell you more than any indicator will. Just like someone else said, if you use indicators to make entry decisions, you often miss the best entry, because you are using past data. The only indicators I use are the basic moving averages, 10 20 50. I use them only to help me figure out what the programs are doing. All my entry decisions are based off the level 2. I also think the VWAP is useful, but not for entries.