What indicator am I describing ?

rjay

Active member
122 0
I have a EOD system that uses %R, Parabolic & MACD. When they all fire in the same direction I take a trade BUT only in the direction of the 60 day trend which I measure simply by looking at the candlesticks over that period. I'd like to make this more mechanical and less discretionary but am not sure which indicator I should use. Any tips ??
 

BBB

Experienced member
1,071 3
Sure - if you want to use indicators, ditch all but one of the 3 indicators you are currently using - they all measure the same thing - momentum.

If you really must use other indicators, then use ones which don't duplicate the ones currently used, or at least use them in a different time frame.

Try a volatility indicator and a volume indicator.
 
 
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