Your Thoughts? Indicator Strategy...

Right now, I'm looking for an indicator setup that will automatically pick entries with the least amount of risk. It seems like a combination of indicators for volume, price and averages would work best.

The only site I came across offering such indicators is here:
[url]http://www.ninja-indicators.com/indicator-list.html[/url]

I'm thinking about using the Price Collect indicator, the ADX plus and the Vol WRSI together. Is anyone running a similar indicator setup or non-automated strategy? Thanks for any input.

Try to understand price action. Say you decide to short the market. Well a good start will be to wait for a red 15 min candle to appear in RTH and then short a price above the high of that red candle on a 1 min chart, viceversa for long.

Good point ak1, understanding price action & the nature of what your trading is key. There are some good posts here somewhere on Al Brook's book "Price action" I found it free at scribd.com.. I've read it twice. It's one of the few/best books I've ever read that helped my day ta day trading.

Hey staylor,

Where did you find this on scribd, I can only find a preview version? Wouldn't it be unusual for a full copy to be on there for such a new book? I mean, isn't it copyrighted? Thanks in advance.

I'm not 100% sure I found it on scribd, but I think that's where it came from. I haven't found scribd searches to be consistent, sometimes John Persons or Larry Pesavento's books will be there, sometimes they wont. The Price-action Ebook I found is dated 3/1/09 & is 50 pages.

Originally posted by andreko73

Right now, I'm looking for an indicator setup that will automatically pick entries with the least amount of risk. It seems like a combination of indicators for volume, price and averages would work best.

The only site I came across offering such indicators is here:
[url]http://www.ninja-indicators.com/indicator-list.html[/url]

I'm thinking about using the Price Collect indicator, the ADX plus and the Vol WRSI together. Is anyone running a similar indicator setup or non-automated strategy? Thanks for any input.

certainly a bunch of worthless indicators.

Really depends on which market your trading...RSI worked great for me on the 30min ES. Sucks on forex...but Bollinger Bands work well on the Euro I watch a 30min, 5min, 1min and a 10 sec chart with BB 14,2. i scalp 100s of trades a day in the eur/usd with that setup nearly every day all day. Most indicators are useless in a trending market others are useless in a range bound market. You have to know your market and your indicator.
Price Action is always more important than lagging indicators. Study price action, highs and lows, ask your self how many points/pips are the swings up and down and master naked charts before adding indicators imho.