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Which technical indicators work well together?
I'm currently using MACD and Slow Stochastics, using the stochastics crossing as an entry/exit signal, since they usually precede the MACD crossing over, so give me a bit of an earlier warning.
I don't really like using RSI, I've never really found it very helpful. I was wondering if there would be a way of incorporating the MACD histogram or ADX into this basic strategy?
I use Full Stochastics (14,3,3) to time entry/exits much like you. I also use 20, 50 and 200 EMAs to look for signs of reversals or continuation patterns.
The ADX (with DMI+ and DMI-) is best used as an indicator to tell you what other indicators to use. If the ADX is giving a positive or negative trend signal then use trending indicators like MAs and s/r levels. If it is giving a trendless signal then use trading indicators like stochastics.
I like to try new combinations and it depends on what I'm looking at but right now I'm using MACD, Force Index, 100 day EMA, Bollinger Bands at 1 std deviations.
Hope that helps
I rely most on candle patterns, the 5day EMA, the 20day EMA, and the 50day SMA for the short term picture. Occasionally I'll watch MACD and Stoch, but only to affirm what I see in the shorter term averages.
