The best T/A indicators

[benn]

Hi there,
i have been introduced recently to the coppock indicator and looks good. Its data is in excel format and i am going to use it from now on.

For someone like me who does no T/A at all and bases long term buys on "its a good company, its a bank etc" the qu is:

1. is the coppock any good?
2. any other indicators out there. i dont want to have to work too hard at it or be inundated with indicators else i wont use them. so i thought id start with analysing the coppock and one or two others. ive heard the macd is good too.

i have no charting program at home and dont want one either. dont have a huge amount of time to devote to it

cheers
ben

 

[>Apocalypto<]

Hi there,
i have been introduced recently to the coppock indicator and looks good. Its data is in excel format and i am going to use it from now on.

For someone like me who does no T/A at all and bases long term buys on "its a good company, its a bank etc" the qu is:

1. is the coppock any good?
2. any other indicators out there. i dont want to have to work too hard at it or be inundated with indicators else i wont use them. so i thought id start with analysing the coppock and one or two others. ive heard the macd is good too.

i have no charting program at home and dont want one either. dont have a huge amount of time to devote to it

cheers
ben

Hi,

All I use is a MACD (Histogram) and three Moving averages.
Nice and Simple

cheers

 

[MichaelD]

1. is the coppock any good?

No

2. any other indicators out there.

Shhh - this one's a BIG secret 'cause almost nobody knows about it. This is one of the VERY FEW INDICATORS that are any good.

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Here it is.

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Are you ready for it?

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Can you handle it?

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Can you handle the truth?

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'tis here

CLOSE

 

[benn]

i dont understand your joke

 

[MichaelD]

It's not a joke. I've just given you the BEST indicator there is for trading.

 

[Naked shorts]

one indicator is use is stochastics, It can also be useful for determining divergence aswell.

Dont spend too much time analyzing how it works, as with all indicators, just because they are indicating something, doesnt mean it will happen.

I've never heard of coppock though.

 

[Sean K]

i dont understand your joke

Michael doesn't use any indicators. He throws a dart and then uses a stop loss.

Or something like that.

We aren't privy to his success story, or his detailed trading history.

Just the results he posts up, for everyone to be envious about.


Personally, I have found one particular TA set up very good value.

Watch for a stock generally trending up which spikes, then forms a pennant/triangle, or flag. I try to get in before the break, and have a stop in place. I've found there is a high probability of a break up, and it can be significant. Works in the opposite direction as well, if they let you short.

Or, just follow Michael's trades.

Actually, where are they?

 

[MRC & Co]

Michael uses a very simple mechanical system, not too different to the turtles from what I have seen.

Low initial risk, quick pyramiding, catching trends (entry on a specific requirement) and exit based on a larger period ATR to give room to move. That's all I remember, may be different in this environment.

Indicators are useless retail tools IMHO. Every single one of them. Though one may wish to use an MA of some type to determine trend. Then again, this can simply be done with HH, HL on various timeframes (inclusive of distance between each pivot high and if they intersect for trend strength, which is all I take note of).

Other than that, for trading equities longer-term, VSA is probably the best thing to learn to time entry/exit. Though takes a lot more time and effort to learn than a simple indicator.

But as Benn says, he doesn't want to learn or devote much time to this, so you probably shouldn't be doing it yourself. But be careful who you allow to do it for you..........

Good luck.

Kennas, that spike up and forming of a large pennant (particularly if messy) is a more reliable pattern to break the other way if I remember correctly from Radge.

Seems pretty 50/50 to me from watching intraday timeframes, but I do like the traditional high tight flag. Reasonably reliable.

 

[Sean K]

Kennas, that spike up and forming of a large pennant (particularly if messy) is a more reliable pattern to break the other way if I remember correctly from Radge.

Seems pretty 50/50 to me from watching intraday timeframes, but I do like the traditional high tight flag. Reasonably reliable.

um, not sure what that means?

 

[MRC & Co]

Watch for a stock generally trending up which spikes, then forms a pennant/triangle, or flag. I try to get in before the break, and have a stop in place. I've found there is a high probability of a break up, and it can be significant. Works in the opposite direction as well, if they let you short.

lol, this part.

A stock in an uptrend for example, which spikes up and forms a pennant (not a small tight triangle but a large messy one), is more likely to break down according to Radge (from memory).

 

[MRC & Co]

Indicators are useless retail tools IMHO. Every single one of them.

Sorry, don't want to hiijack the thread with this comment. It is just my observation on intraday futures.

Though, I do use an RSI divergence on EOD equities for double tops/bottoms.

I think Wayne mentioned some differences on this thread: https://www.aussiestockforums.com/forums/showthread.php?t=4720

So don't really want to get into that debate, enough is done on the thread and it covers anything and everything I could think of and way way more, some really good stuff for anyone who is interested in indicators (and a whole lot of other good insight).

 

[BentRod]

Watch for a stock generally trending up which spikes, then forms a pennant/triangle, or flag. I try to get in before the break, and have a stop in place. I've found there is a high probability of a break up, and it can be significant. Works in the opposite direction as well, if they let you short.

This is exactly what I have learned to do regarding ascending triangles and symmetrical triangles.

A long example would be wait for the third bounce on the bottom border and enter the trade with reverse stops.

You can try an enter on the second bounce but it is harder to pick as you never know where it will be.

The trades that don't get reversed usually are gems because every man and his dog is buying the breakout of the upper border.
Good for a pyramid on the breakout too, I've had some huge R-multiple trades with this setup.

Regarding Indicators, I don't use them except for the odd check for divergence on the Dailies.

 

[BentRod]

I think Wayne mentioned some differences on this thread: https://www.aussiestockforums.com/for...ead.php?t=4720

Thanks for the link MRC, never noticed Soul Trader on these forums?

His forum is good too, loved that video on the CQG tape he did the other day(saw your post

Geez be nice to afford those luxuries

 

[mazzatelli1000]

Other than that, for trading equities longer-term, VSA is probably the best thing to learn to time entry/exit. Though takes a lot more time and effort to learn than a simple indicator.

VSA is more technical analysis than an indicator and I agree with MRC that learning this gives some great insights into how the market moves.

Learn to read price action as everyone else here tells you and make sure it is suited to your timeframe. Each timeframe looks for different things.

Enjoy

 

[wayneL]

o

I've never heard of coppock though.

http://en.wikipedia.org/wiki/Coppock_curve FWIW(SFA)

 

[MRC & Co]

Thanks for the link MRC, never noticed Soul Trader on these forums?

His forum is good too, loved that video on the CQG tape he did the other day(saw your post

Geez be nice to afford those luxuries

Yeh souldtrader was prob just here drumming up support for his own forum.

He uses MP, I'd much rather just use trendlines and basic support/resistance from various timeframes.

Don't need CQG Bent, you can get the same info from the basic lvl 2 orderbook (this is provided in IB).

 

[kam75]

The best are:

1. Price
2. OBV (On-Balance Volume)
3. Volume

regards

 

[BBand]

Hi JOE,
I made a lengthy reply to this post - took me quite some time to type it out1/2 - 1 hr
When I tried to preview it - I had to log in again
Logged in again and as expected reply no where to be seen
What a waste of time
Bye

 

[Pairs Trader]

Indicators are useless, they look good on historical charts but trading the hard right edge your way behind the ball with indicators, you only need price action, support, resistence, trend, volatility and how a stock reacts to news to gauge good entry points, also fade big moves on light volume, you will never meet a millionaire trader who uses indicators its just the reality.

 

[professor_frink]

I love these types of threads

A question is asked about an indicator and everyone jumps in talking about how useless they are because they lag. Quite often, they then will turn around and draw pretty lines on a chart to try and help confirm what they see in the basic price chart, and wait for price to confirm the line on the screen as valid before entering. This introduces an element of lag into the "superior" indicator they are using!

If you wait for price to bounce off a support area before entering then there is lag.
If you wait for price to bounce off a moving average before entering, then there is lag.

Yet one is supposedly completely superior to the other and only one of them has lag according to the xspurts in this thread.

RUBBISH!

you will never meet a millionaire trader who uses indicators its just the reality.

Linda Bradford Raschke(I think I've spelt that correctly)

Might be time to rethink using absolute terms like never