Price action and indicators - Page 3
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Thread: Price action and indicators

  1. #21
    It all depends on individual trader. I think price action is best for doing forex trade well. There is too many indicator on MT4, but if we are do not understand how to use it? But I trust in any kind of analysis more than indicators because I see that indicators are used only to get signals and not for analysis

  2. #22
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    Very well explained and i would like to mention here that price action depends mainly on previous market movements like wedge breakout pennants and flags and test of ema measured moves and there lot oe patterns and last the candle and i never rely on any fibo number or indicatnr to determine movememt using price action and only ema of 20 period is used to see a test nr break

    regards

  3. #23
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    from what I read that the Dow theory is used commonly on Daily Chart, and in fact in addition to identifying trends up / down volume also uses the data to see the strength of the trend, but because I want to trade in a smaller time frame eg H4 or H1, I was forced to not use the data volume, so far as I am fine with the elimination of the deficiencies price action

  4. #24
    I normally use bollinger bands to calculate market volatily.But sometimes i am really confused to calculate market trend.I also try to use ATR .I think solely using this type is indicator is doesn't enough to justify a market. I think there is a good use of indicators during scalping. i normally use RSI and schostic for scalping .I try to correlated between them.

  5. #25
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    i tried to combine them between oscilator and trend following, i set bollingerbands and also MA, and with them i can indicate support resistance with dynamic and also entry point and exit point, but i still have the problem with breakout position, i can not read them with properly and sometimes they are like a trap for me, put the position but then the market still continue the position . how to reduce or avoid it happens to us and how to know if the situation still continue the position with using them ?

  6. #26
    Until now, the only indicator that I never know its characteristic is oscillator indicator. This indicator seems useful for me and profitable because I see so many traders are using it on their trades and make a good result from it. But after tested it in my own trade, I got nothing but loss. I don't know how to use it well and never make a good result from it. That's one of many various reason why I don't use any indicator in my trade especially oscillator.

  7. #27
    The price action should be the first alert for the traders ti know something is about to change and these are the most important things in forex trading business.This hepl us to understand the price movement.A forex trader must be well educated to understand the trade and indicators properly while trading.

  8. #28
    One of the underestimated volatility indicators that i often use is Average true range, and you can find it in section "custom" in a meta trader 4. ATR show us a average moving of specific underlying instrument in a specific period of time. For example if on eur/usd ,on a daily chart you have ATR 70, that means that eur/usd is average move 70 pips in a day. So when eur/usd reach that 70 pips you can trade counter trend.

  9. #29
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    There are many different indicators in forex and traders could try to use any indicator which is suitable with his style of trading but usually, traders who used price action not using indicators any more because I don't know how to combine using indicator and price action for making analysis.

  10. #30
    Trader Nizar's Avatar
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    this a very informative post,and thank you valued trader we gave me a good idea on using volatility indicators like Average True range and combine it with price action in order to be able to select the best stop loss position i can get,i hope you continue updating this post and make some chart illustration as this topic is very important to me.
    Bend your view to the charts, not the charts to your view

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