Re: hmm, let's see what we can do with just 2 indicators Quote:
Originally Posted by TAjammy i was just thinking of a really , really simple system composed of 2 indicators.
I'm using bollinger bands and MACD, let's see if this very basic approach can actually make money.
I am not trading pin bars etc any more but i'm saving up so i can afford to learn to tape read and found out i canget all i want from sierra chart from $65/month.
The basic method here is to aim long at lower band when MACD crosses above 0 line, and to go short at the upper band when the MACD crosses below the 0 line.
I have no idea if this works or not so it's a punt i guess. Will be demoing this obviously on the H1+ timeframes. |
I use averages and a Bollinger Band. Nothing exceptional about BBs, they tell me when the price is overbought or oversold. When it is one or the other, I still have to go back to the bars to enter a trade. Averages, the same. I use them for trend. These are on the chart and the price is circling around them in cycles. That, I find useful . Those, that are on a separate chart underneath, are almost all based on averages and are lagging, dangerously so, for traders who are looking at them for advice.
MACD, stochastics, CCI, you name it, they have all had their days of popularity and the whole lot of them tell you what to do when it is time to do the opposite. I've never tried that as a signal, perhaps that would work...
Someone is going to mention digression. Like all the others, that works well when it works. When it doesn't, it doesn't, but the followers conveniently ignore the bad signals.
The worst thing about indicators is that one can get bogged down with them, changing from one average to another. What a pain and waste of time. |