AUDJPY - A Combo of awesome indicators that works beautiful
This is a mere example how I put various indicators together in order to plan and execute shorter term trades. First of all I scan various pairs across AUD, JPY, EUR and NZD to see the ongoing trends.
With Rob Bookkers Knoxville divergence indicators I might find good class A diveregences (bearish or bullish - it doesnt matter as long as I know) On the chart I have a few indicators from Rob Booker and showing Daily pivots and the actual divergence line if any (not showing on this chart)
I also have all indicators available from DecisionBar which gives me various trading signals such as breakouts, exhaustion and so on. With DBs ATR on the chart and the indicators you see under the chart such as their Forex Risk Bar and Bias Bar I can easily verify if the signal is valid by checking who is control as we speak (buyers or sellers) if the Pivot Strategy signal I get is worth to go for or not.
I also added LazyBears Squeeze Momemtum Indicator as a 3rd tool to verify the ongoing price action.
The key here is that I have found that as long as you trust the indicators, trade on the 15 min chart and make sure you only enter trades when all indicators gives you the confirmations and validates the trade - then you are good to go. However, you should select a few charts and keep a close watch on them since trades can rapidly pass by if you just go for a cup of coffe.
With Rob Bookkers Knoxville divergence indicators I might find good class A diveregences (bearish or bullish - it doesnt matter as long as I know) On the chart I have a few indicators from Rob Booker and showing Daily pivots and the actual divergence line if any (not showing on this chart)
I also have all indicators available from DecisionBar which gives me various trading signals such as breakouts, exhaustion and so on. With DBs ATR on the chart and the indicators you see under the chart such as their Forex Risk Bar and Bias Bar I can easily verify if the signal is valid by checking who is control as we speak (buyers or sellers) if the Pivot Strategy signal I get is worth to go for or not.
I also added LazyBears Squeeze Momemtum Indicator as a 3rd tool to verify the ongoing price action.
The key here is that I have found that as long as you trust the indicators, trade on the 15 min chart and make sure you only enter trades when all indicators gives you the confirmations and validates the trade - then you are good to go. However, you should select a few charts and keep a close watch on them since trades can rapidly pass by if you just go for a cup of coffe.