What is the best indicator for me ?

• 03/16/2021 at 1:31 AM #164283
  AntoGH

  What is the best indicator for me ?

  Hi! An indicator or a group of indicators, for daily (not intra-day). I would prefer only LONG trades (buy) but it’s okay if it’s both, long and short. If you could add the backtest code to help us to know which one is the best indicator and then i’ll try to do my best to upgrade this indicator as I can.  It can be a strategy or a indicator or even a very good screener !

  So please attach the indicator and the backtest 😀

  thanks !

  I wish you good luck !

  

  AntoGH

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  03/16/2021 at 11:37 AM #164324
  Vonasi

  There is no such thing as a ‘best indicator’.

  Indicators all do the same thing – they look at what has happened and do some maths on it and then draw pretty lines or histograms or arrows. None of them can tell you what will happen next but if you spend a lot of time staring at them then you might get an idea of what might happen next… but you will still be very wrong sometimes.

  If someone has spent a lot of time staring at and carrying out analysis on indicators and has what they believe to be working understanding of what to expect from them and perhaps has chosen one or two of them as favourites to use then how (and why?) do you expect them to pass that knowledge on. You need to put your own time and hours in and gain your own understanding.

  There is no ‘best indicator’ – there are just indicators that you understand the best.

  Personally my favourite indicator is price which I often compare to previous price. 🙂

   

  

  Vonasi

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  03/17/2021 at 4:20 AM #164396
  XORANDNOT

  An incomplete list of my favourite indicators : moving averages (often smoothed) to indicate direction of prices, momentum (to tell the rate at which price changes), TRIX (which is a smoothed momentum indicator), supertrend as a filter for entry or exit – do not enter or exit, when a supertrend is in the wrong direction, ADX (to tell, when a trend has ended), Bollinger bands to see extreme price movements that may revert in the future. Sometimes RSI to see when a situation is oversold or overbought. But especially with RSI, nice curve fits can be easily overoptimized that may not work in reality. For all others of course, too.

   

  So-called advanced indicators (Kaufmann’s adaptive moving average and things like these, and you will find many more in the indicator list of this forum) often have complex assumptions that are not always backed by reality. I usually refrain from using such over-complex indicators.

  

  XORANDNOT

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