Mine is stochastic rsi and fib speed retracement box.
I also draw meme triangles and use SAR, RSI, Bolling Bands, and ADX.. but desu stoch rsi and fib speed retracement box is 90 percent of what i use to make choices.
Also can someone help me a bit and explain adx a little further? It shows the strength of a trend right?
Any other good ones though.. im specifically looking for alternatives to stoch rsi that may be better or more refined/advanced or better suited to crypto.
Also, any tips for how to set up the stoch rsi? Basically all i do is try to get it to correlate to the graph..
All information you need is baked into those. On backtesting every meme out there, the best results I ever found was from using the above. Here's my method:
Use the SMA to detect a trend (ie the fast line is over the slower line for up.) Confirm with Heiken Ashi. Wait for the MACD to flip. Confirm you're at a likely trend start or retracement mod-trend with Zig-Zag. Sanity check with S&R (you're not about to faceplant a major resistance or something). If it's been a bear for a while, check volume as well (or just check anyway for peace if mind). Use the ATR to calculate safe points to enter a bracket trade (where to set stops or dca buys and your take profit goal in case of a sudden move). Execute. Let your profits run by trailing your orders up and once you've passed your initial profit point, leave a sell order there, and instead of DCA orders (if you use those) put in a stop-loss at 3xATR percent below. As soon as all the indicators have flipped to bear (or the market dumps into your stop), you're out.
Personally, since I'm bullish long term I DCA down if I get it wrong (successful trading doesn't require 100% accuracy). I trail the move down, and when the indicators show a likely reversal I buy double (yep, Martingale). Even as volatile as this market is, I haven't had to DCA more than a couple of times in a row yet. Of course, I then retarget my profit goal - so far I've always broken even or profited.
Shorting is obviously the opposite if you're into that.
Adrian Robinson
Oh yeah, and on attempting to use shit like Elliot Waves, patterns, fib levels etc - all bs imo. Any correlation seems to be just due to tons of people thinking they're real. My way still worked better. I don't try to predict the future - I just decide at any given moment whether I should buy, sell or hold.
Josiah Reyes
Whoah - this is gold. Thank you. I knew there was a reason I keep slogging through this fucking board.
Luke Young
If you're new learn candles and how to draw horizontal lines really well, then you can start adding all the fancy rainbow shit, the information from these indicators is derived from the price. But at the same time the most succesful traders I know are people who have developed their own methods. The problem with 70 indicators is that you can end focusing on the one that feeds your inherent bias about a chart. But if in the end you're only using Stoch RSI and Fib retracement speed for decisions, it's fine I guess.
I use two MAs, Stoch RSI and Demark, occasionally Fibs but 0.382, 0.5 and 0.618, if I add more numbers I just keep thinking shit's going to correct the way I want and end playing myself.
Andrew Turner
>due to tons of people thinking they're real. that doesnt make them any less useful...
>I should buy, sell or hold. I get it.. that's what everyone is trying to do but why get less data? Wouldnt it be useful to decide what you would do with a clean chart then compare it to what indicators are saying?
The best trader i saw on biz (posted his balance at something like 5 mil 6 months ago) said he looks for patterns and indicators and he also said something about finding different alt coins that are correlated.. like when the price of one goes down then the other goes up.
He said though that now he is more into price manipulation with shitcoins that anything else.
Ethan Hughes
But yeah dude im not trying to be critical of you really because you sound like you might be more experienced than me. Thanks for sharing this.
I'm still new to those particular indicators though so im still trying to make sense of it. I set up a chart though like you said and im trying to get a feel for what you were talking about.
Jace Walker
>fancy rainbow shit Well it's just fib rays over retracement levels on both the x and y. The rainbow is just a default setting but a nice feature of tradingview.
>the one that feeds your inherent bias about a chart. True true. I'm trying to find patterns as well like looking for the "inside bars" or consolidation patterns.
>Stoch RSI How do you set yours up? I just try to get the oscillations to correlate to good buy and sell points and im trying to actually learn the math behind it but just wondering if you have something else that works for you?
Here are 3 papers about how stock prices seem to follow "quantum patterns." There is some user here trying to scam people by charging for "lessons" where he parrots this shit.
Anyway it's not that new because people have compared stocks to the motion of air molecules aka brownian motion where the collisions create harmonic patterns. The math is bretty complex but if you know calculus then it might be easier.. i havent personally spent that much time going though them but there is some potential, potentially.
> How do you set yours up? Default. Maybe something else works better, I'm just too used to this, 14 period at least makes sense intuitively for daily candles. Besides oversold/undersold conditions I'm used to it.
> Demark It's very simple but hard to explain in a post. You basically look for the price 4 candles earlier (or 2) after candles point to reversal, then start a count to 9 or 13 when the anticipated reversal is happening and try to get an informed estimation of a continuation of the trend, retest of supports... That's just the indicator, to learn how to trade it in an objective way search "DeMark Indicators by Jason Perl" and I don't really do exactly what he says (I'll take perfect 8s if I like them for other reasons and I give my stop losses a bit more wiggle room because crypto volatile as fuck) but it's a very good starting point and it also explains the indicator which is much easier to understand with pictures. "TD setup and countdown" is a custom free indicator on tradingview but I don't exactly use that either.
Ah - but it actually can. Or at least redundant. Like I say, I've backtested this shit, take ot or leave it. Too many signals is just noise. There IS no one "perfect" system that accounts for everything - you need something that's effective enough and isn't SO complex that it's back to being worthless. The whole point of indicators is to compress all the complexity of the market down - start loading them up again and you lose that advantage.
I learned that the hard way. Spent years worrying about trying to find a 100% prediction system. I finally realised money management, position sizing combined with some good old fundamental analysis (to make sure you're at least trading a winner so if you DO have to hold a bag it'll be worth it) was the formula. Finding the entry and exit points are important - but really, once you can pick a turning point and direction with even roughly 50% accuracy that's good enough.
Adam Collins
i use a very good method.i look at every indicators i can find and then flip a coin 1 time for the general trend,1 time for the short term.it works wonders
Brandon Rogers
Kek, loser detected. If it's that random, why do bots work?
Isaac Morgan
Overcomplicating it with this stuff.
Markets aren't natural phenomena - they're just a bunch of humans buying and selling. All you need is enough information to detect the direction the herd is moving so you can take advantage.
Kayden Smith
where is your long position m8?if you method works why arent you in at 8400?
Ayden Turner
Recommended reading to learn more about this method(s)?
First thread I have seen in a long time where we are actually trying to help each other.
Much appreciated.
Nicholas Price
>to make sure you're at least trading a winner so if you DO have to hold a bag it'll be worth it I've found this fucks me. It shouldn't if you're disciplined, but if I believe in it I just end bagholding when it's clear it's actually not the play. In a coin I don't care about it seems easier to leave emotions aside. Paying premium for a good coin hoping to sell the news when they're already priced in sucks major balls and I don't know how to fight that habit.
People can talk shit about TA all they want but when most threads are baits, shills and fart sniffing it makes me wonder what the real smart money is doing instead.
