/biz/ - Business & Finance

>>19382436
>Everyone I've ever met who was into stealing
Hmm. You are an onion of many layers.

>>16323027
This is pretty much correct with the exception of the point about the MACD. MACD is bad even for stocks. Support/resistance does indeed play a more meaningful role in stocks than it does in forex.

The universal between the two is volume. Especially multi day scenario with increasing volume along with the direction of the trend. A one or two day spike may be bait but if price continues to trend and volume continues to stay high or better yet increase with it, that's a legitimate indication of further upside/downside to come. After spending the better part of the last six months putting together an indicator based system that I believe will work long term, I wound up with something pretty bare bones. It's the two ichimoku moving averages (base and conversion) set to a bit longer time frames than default, and two different styles of volume based indicator. And that's pretty much the extent of it.

The style I like the least is the two lines cross ones. They are either very twitchy and tell you to buy/sell constantly, often at a disadvantage, or they're laggy like MACD and don't pop a sell signal at you until half way through the move or more. The closest I found to a good two lines cross indicator is the QQE (MT4) set a hair slower than default. Backtested that one for two months before I noticed that the volume indicator combination I had going alongside it was actually dictating all the moves and overruling the QQE's occasional false signals. The biggest roadblock I had to get over with this whole thing was allowing the stuff to do its job, which I knew it was capable of doing because I tested it extensively, including allowing a larger amount of drawdown within a trend than I had previously been comfortable with.