As traders we want to use the best technical indicator for our strategy. But which technical indicator gives us the best edge? In this video I compare 4 different technical indicators. Stochastic, RSI, MACD and Bollinger Bands. I then see which of them performs the best after a set number of days. The analysis is carried out on the S&P500 Index.
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This week’s Big Weekend Edition Lesson is on Trading Indicators. Many futures traders have the misconception that trading indicators are somehow a no-no. Now admittedly, as you become more proficient as a futures trader and you begin to recognize market formations more accurately you’ll find that you don’t rely trading indicators as much. However, they can still be extremely helpful, especially when they can identify many more potentially profitable trade setups in different markets and time frames simulaneously than a trader can. You can see the rest of the Big Weekend Edition, a support and resistance trading ezine at supportandresistance.com. Erich’s favorite trading indicators are DTS (the Diversified Trading System) Trade Manager and The Mean Renko Bars. You can find out more about these indicators at
Today’s Trade of the Day came in the S&P emini futures market. I was monitoring the stock index futures and noticed that the mini DOW had made quite a drop and kind of left the other stock indexes. So when this happened, I said I would wait for the other three to start to roll over and join the mini DOW as it was falling.
This is exactly where the trade of the day took place. I shorted the emini S&P 500 futures market as it was falling to the downside. I used a Fibonacci retracement to short the es futures and took profits as the market was testing support.
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I go over Trading with Tick and Range Charts For Short Term Profit
Bruce Banks, www.envisionchart.com Specializing in Futures and Forex
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The indicators and methods that I use?
Methods: Technical analysis combined with a cursory overview of the market and it’s behavior as a whole. This includes high low mapping, prior resistance/support, multi time frame analysis, technical, and market conditions from outside sources.
Indicators and platform: TAS Market Profile Tools, custom indicators, and NinjaTrader. On our site we offer both training and a TAS Tools Discount
TAS VEGA is one of the key indicators in the TAS Tools indicator suit. It gives you a clear red light green light indication on strength or weakness in the market. With the orange bars giving you even more insight into what market profile is telling you about the current market situation.
TAS Tools works on Bloomberg, NinjaTrader, Meta Trader 4, MT4, eSignal, Gain Capital, and TradeNavigator. It overlays directly on your chart to give you valuable Market Profile Information in an easy to read interface.
The TAS Tools suit includes TAS VEGA, TAS Boxes, TAS MarketMap, TAS Navigator, TAS Ratio, TAS Static PCL support and resistance indicator, and TAS dynamic PCL support and resistance Indicator.
All of these are based off of Market Map which has been a powerful trading tool used for decades to see information that isn’t readily available on your trading screen.
These tools work on Forex markets, Futures Contracts, Stocks, and ETF’s.
NinjaTrader offers charting and an easy to customize package, It has been my go to platform for years.
EnvisionChart Website: www.EnvisionChart.com
Trading with Tick and Range Charts For Short Term Profit:
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POC Line Thickness
TAS Tools: VEGA Indicator Orange Bars and Scaling Out -Quick tip-
TAS Tools using TAS VEGA and TAS Boxes For Breakout Trades
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Bollinger Band trading strategy using M1 charts and 5 min expiry.
Simple Bollinger band 5 minute strategy. Please understand that I have a lot of experience in naked charting and that I know the overall trend and frequently check different timeframes as well as currency correlation to other assets. How well this works for you depends on your charting skills. The more you understand price action, the more accurately will your strategies work. If you want to pick up a few tips and tricks, watch the price action playlist I have created where you can see many examples of me using naked charts.
A Year long Journey in the Stock Buying and Selling Business. Books were:
The Neatest Little Guide To Stock Market Investing 5th Edition.
Stock Market Investing For Beginners.
How I made $2,000,000 in the stock market by Nicolas Darvas.
How to day trade stocks for profits.
How to trade forex for profits.
Swing Trading for dummies.
Technical Analysis for dummies.
Economic Indicators for dummies.
Stock Investing for dummies.
Penny Stocks for dummies.
Candlestick Charting for dummies.
Currency Trading for dummies.