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Vwap and its standard deviations, same reading any time frame/chart, one of the mostly used indicator by the trading industry and by institutional traders.
My answer would probably be VWAP w/SD bands. It helps me frame price in my mind, and I think along with my mental notes on pivots (which I can calculate myself if I had to) I would be fine.
Many who have read all my posts know I am partial to having some sort of oscillator in panel 2, but I think when push comes to shove --- having just one indicator, one indicator only --- it would have to be VWAP and I can live without the oscillator as it is not telling me anything I don't already know by looking at price. Whereas I can't calculate VWAP + SD in my head.
heh i hope that ends up in the download section at some point.. you can eyeball the BBs but the coloring does make it easier..
anyways i would go out on a limb and say if you could give a good trader any indie, but only one, and they could make it work if they spent enough time with it.. for me, i would have to say an SMA(50) because i like to watch price action around them and patterns that occur around them...
dont believe anything you hear and only half of what you see
If I could have two indicators, 20 EMA & BollingerBands, lots of countertrend setups can be easier seen with BB such as initial penetration of outer band and subsequent failure to retest entry types. Width of BB generally indicates volatility. Change of slope of overall BB can help identify trend. The outer and center bands can be used as temporary s/r like in sideways trading range periods. Works well with PA and individual candle analysis. Works on many time frames and types of charts.
Oh wait, I guess one could make the center band of the BB a 20 EMA too, so the choice of one indicator could still be BB with center band 20 EMA