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You hit that nail right on its head. I use some elements for my trading, which are comparable to the NEXGEN approach
- A MACD type oscillator (cmp. MACDBBLines)
- Keltner Channels (idem)
- trendfilters (cmp. large and small trigger lines)
- fibonacci confluence zones
So the method is somehow similar, but I do use two elements that I have rarely found on their charts
- volume analysis (climax bars, churn bars, low volume bars)
- spread analysis ( narrow range and inside bars)
- floor pivots and support and resistance created by expansion bars
It is just a question, which elements you select and how you put them together.
Good point, you are on a more even playing field in that case, although you could also factor in the volume on the related futures contracts that are available. . .
Well, there is even better volume available. For instance from esignal or from Dukascopy. On Dukascopy you can also get the bid/ask volume, but I haven't figured out a way to make a useful addition to my trading set ...
I am also a Nexgen user and I begin to become profitable after using it one year. I do not respect too all the setups from the Nexgen pro room, and I would be very interested in joining a trading group sharing some informations and trading tips with Nexgen.
Can you please tell me more about the existing group?
Thanks for the informations, I will connect this afternoon. Unfortunately, I can not send private messages on this site, that's why I am answering you here.
My training period at Nexgen is indeed finished. I trade several markets, but I am mainly focusing on 6E contract for the moment.
I use a better volume indicator. I look for climax bars (wide range, high volume) that are followed by churn bars (narrow range, high volume), then a failed breakout from the range generated by the climax bar to signal a potential trend reversal.