What is the best technical analysis tool?

[DuCaan]

Fibonacci Retracements, Extensions etc coupled with some bar chart or candlestick pattern. Example
http://marketchartpattern.com/forex...eekly-charts-technical-analysis-7-march-2014/

 

[andyroki]

The eyeball.

I have been playing with TA for a while. I came to the same conclusions, not so much the eyeball, but the brain. I think the best way to learn is to look practice till you learn to spot a good chart. I have even written an app and a PC program to train myself. Basically I figured I need to trade a lot, so I wrote a program to fetch historical data and place trades so I could fast forward to see results.
The app is free and it is here : https://play.google.com/store/apps/details?id=com.turtrades.free

 

[NVP]

What is the best technical analysis tool you use? :shuriken:

they all pretty much do the same thing .........people get toooo tied up in chosing the best systems and indicators and other stuff

in truth all the half decent ones call the trades roughly at the same time.....so focus on execution ...thats the key :smart:

N

 

[Dentalfloss]

I have been playing with TA for a while. I came to the same conclusions, not so much the eyeball, but the brain. I think the best way to learn is to look practice till you learn to spot a good chart. I have even written an app and a PC program to train myself. Basically I figured I need to trade a lot, so I wrote a program to fetch historical data and place trades so I could fast forward to see results.
The app is free and it is here : https://play.google.com/store/apps/details?id=com.turtrades.free

not quite...
the most important information a chart can give you is trend


so..with that in mind....trendlines must always be placed on the chart first
so...the chart should be chopped up into bullish and bearsh trends using trendlines.First place,ment does not have to be that accurate.it will give you a feel of what is happening
no need to spend hours looking at charts
next move...look back for horizontal supp/res
then look for patterns
then...lastly...place fibs/indecators
if you are doing it any other way..you will be wasting alot of your time

 

[andyroki]

not quite...
the most important information a chart can give you is trend


so..with that in mind....trendlines must always be placed on the chart first
so...the chart should be chopped up into bullish and bearsh trends using trendlines.First place,ment does not have to be that accurate.it will give you a feel of what is happening
no need to spend hours looking at charts
next move...look back for horizontal supp/res
then look for patterns
then...lastly...place fibs/indecators
if you are doing it any other way..you will be wasting alot of your time

I agree trend lines are important. But do not agree that you should not spend time practicing. By practicing you learn what works, how long of a trad line to make, has the trade line run its course etc. Also how to draw a trend line could be a discussion in itself.

 

[Dentalfloss]

trends work.....period

 

[Sonicscooter]

What a dumb thread title, we are all different, ie see things differently from each other, so it's down to the individual and what works for them, otherwise everyone would follow the same TA, etc etc etc etc..............

 

[Sonicscooter]

trends work.....period

I don't use trend lines, never have, so does that mean i'm wrong............bank balance 1 trendlines 0

 

[kalott]

when trading stocks, indices trend = friend

http://www.roughguides.com/gallery/21-of-the-worlds-most-impressive-natural-phenomena/#/2

 

[12WBT]

Switching the computer on and staying in the chair.

 

[Vicorka]

What is the best technical analysis tool you use? :shuriken:

Price - volume - volatility

ATR for Volatility
SBV (Selling/Buying Volume) for volume
TSI and or SMI (Stochastics Momentum Index) and or Volatility adjusted MACD for price analysis

 

[DitterPD]

Switching the computer on and staying in the chair.

You must be really good at this!

 

[Deep Algorithms]

There is no such thing as a best technical analysis tool. All technical indicators, etc. operate similarly, essentially filtering specific information from pure price (or volume) data. For example, a moving average is a finite impulse response filter used to filter short-term fluctuations and give you a view of a longer-term trend or cycle. You need to look at and understand pure price action. If this means asking other questions, such as what the longer-term trend is, then you can use technical analysis tools to answer them.

 

[winner4x]

I just use SNR lines, draw boxes for SND areas, Sometimes i use Fibs to find retracement, volume and EMA 50/200

 

[DitterPD]

But what about "switching the computer on and staying in the chair"?

 

[Npard23]

I used customized versions of the MAC-D and Average true range formulas to help with timing positions. However, I'm mostly a fundamental analysis based trader.