Indicators for Monthly chart analysis?

[forexpipz]

I'm just implementing my trade plan :clap: and part of my plan is to have a long term technical model. Now identifying channels, support resistance etc is reasonably easy however i'm not sure what trending indicators to use.

So far I have narrowed my choice down to 100 and 200 day moving averages, adx, rsi stochastics and macd. Are the settings all that important when looking at the monthlys?

I know its easy to spot visually but given the lag of these indicators then i'm guessing the settings are almost useless. Any help would be much appreciated.

 

[tomorton]

I don't look at the monthlys as that would imply a holding period too long for my style. But I do run charts of weekly candlesticks and bars. I use the 50 and 200EMAs on these to illustrate and confrm trends (but daily view to identify entry/exit points once strongly trending targets of opportunity identified).

The value of MAs will always be debated but so many people use them that they become self-fulfilling and show where the crowd is going.

When looking at multiple share charts its easy to use the 50EMA and weekly HLC bars to assess strend strength of various charts - the greater the number of weekly bar Hs, Ls and Cs above the 50EMA, the greater the strength of the trend, as long as prices also show steady progression. This score can be converted to a percentage over a standard period and gives a notional idea of the reliability of a trend.