Which is more important technically?

[BanditDJB]

I use the bollinger bands, RSI, SSD, MACD, SAR, Candle stick analysis,Parabolic SAR, and ADX indicators. I know they all lag just a little with the MACD probably being the worst but what do you think the hierarchy of importance of these indicators are from strongest to weakest. Meaning what should you look at first to give you the strongest idea of the potential direction that a chart might follow.

Personally I have them in this order:
1. Candle Stick
2. RSI
3. SSD
4. Bollinger Bands
5. MACD
6. ADX
7. Parabolic SAR


Yes I am using these in forex trading.

 

[pedro01]

I think you definitely have the number 1 spot correct - the price.

 

[Rossini]

''bollinger bands, RSI, SSD, MACD, SAR, Candle stick analysis,Parabolic SAR, and ADX''


Sure you got enough indicators?
Seriously though-

How do you not get confused from conflicting signals? Like when the MACD is suggesting a sell but the bolly bands are over sold? To answer your question price!

 

[BanditDJB]

''bollinger bands, RSI, SSD, MACD, SAR, Candle stick analysis,Parabolic SAR, and ADX''


Sure you got enough indicators?
Seriously though-

How do you not get confused from conflicting signals? Like when the MACD is suggesting a sell but the bolly bands are over sold? To answer your question price!

Well These are the indicators I understand. Do you have better indicators that might be more efficient? I am always open for suggestions because I do believe I need more to go by. And yes I am working on understanding the news and important releases but I don't have the experience to make complete sense of it yet. But I do know I will be working to understand forex for a while. Your input would be greatly appreciated. Thank you in advance. And yes I do get confused with conflicting indicators.

 

[bbmac]

I use the bollinger bands, RSI, SSD, MACD, SAR, Candle stick analysis,Parabolic SAR, and ADX indicators. I know they all lag just a little with the MACD probably being the worst but what do you think the hierarchy of importance of these indicators are from strongest to weakest. Meaning what should you look at first to give you the strongest idea of the potential direction that a chart might follow.

Personally I have them in this order:
1. Candle Stick
2. RSI
3. SSD
4. Bollinger Bands
5. MACD
6. ADX
7. Parabolic SAR


Yes I am using these in forex trading.

Candlesticks will tell you about overall price action (trending/ranging etc as well early warnings of possible trend changes - HL in downtrend, LH in uptrend, etc etc...) Candlesticks can also provide you with your trigger for entry (individual or small group patterns)

In respect of indicators if you are going to use them, have something that informs of volatility (bollingers) and an oscillator or two for measuring momentum. (you can turn lagging momentum oscillators into leading indicators by their divergence from price)

Crucially you have missed out support/resistance and to this extent I would argue that previous price pivots are the most important. Further confluence can be gained from fibs and trend lines, and generally trading when the highest possible degree of technical confluence derived from these technical factors is where you will find the highest probability trading opportunities.

G/L

 

[Mr. Charts]

Price - plain and simple

 

[Rossini]

Well These are the indicators I understand. Do you have better indicators that might be more efficient? I am always open for suggestions because I do believe I need more to go by. And yes I am working on understanding the news and important releases but I don't have the experience to make complete sense of it yet. But I do know I will be working to understand forex for a while. Your input would be greatly appreciated. Thank you in advance. And yes I do get confused with conflicting indicators.

I think less is more. I would get rid of all but one or two of your indicators and concentrate on the price action more. When you have found what you are looking for using price you can use the indicators as confirmation.

There is no 'right' way, its whatever suits you!

 

[BanditDJB]

When I analyze I draw my trend lines and support and resistance lines and those help out alot. That is usually the easy part of my analysis. You see what s going on with my trading is I see a trend and jump on for the ride making a few pips to my advantage. But when it goes from trending to range trading I am late to see the change and that is where I loose.

 

[fibonelli]

I use the bollinger bands, RSI, SSD, MACD, SAR, Candle stick analysis,Parabolic SAR, and ADX indicators. I know they all lag just a little with the MACD probably being the worst but what do you think the hierarchy of importance of these indicators are from strongest to weakest. Meaning what should you look at first to give you the strongest idea of the potential direction that a chart might follow.

Personally I have them in this order:
1. Candle Stick ESSENTIAL
2. RSI Yuck
3. SSD Eh?
4. Bollinger Bands Bands get in the way of price.
5. MACD 12 26 9 Too Lagging
6. ADX As useful as a meat pie at a vegetarian convention!
7. Parabolic SAR As useful as a chocolate fireguard!


Yes I am using these in forex trading.

You're best off learning how to draw horizontal and diagonal lines.

 

[BanditDJB]

Candlesticks will tell you about overall price action (trending/ranging etc as well early warnings of possible trend changes - HL in downtrend, LH in uptrend, etc etc...) Candlesticks can also provide you with your trigger for entry (individual or small group patterns)

In respect of indicators if you are going to use them, have something that informs of volatility (bollingers) and an oscillator or two for measuring momentum. (you can turn lagging momentum oscillators into leading indicators by their divergence from price)

Crucially you have missed out support/resistance and to this extent I would argue that previous price pivots are the most important. Further confluence can be gained from fibs and trend lines, and generally trading when the highest possible degree of technical confluence derived from these technical factors is where you will find the highest probability trading opportunities.

G/L

When you refer to price action, are you talking about the direction of the trend or are you talking about the speed at which the price is moving? I don't know if this is a dumb question or not but I want you to know I do appreciate your help and talking to me about this.

 

[Headless Chook]

When you refer to price action, are you talking about the direction of the trend or are you talking about the speed at which the price is moving? I don't know if this is a dumb question or not but I want you to know I do appreciate your help and talking to me about this.

You could do much much worse than reading this entire thread

http://www.trade2win.com/boards/first-steps/26947-making-money-trading.html