Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I'm using a very similar histogram that is for Ninja called ECO2. It's available in the custom indicators section of the Ninja forum. I've found it to be very reliable for picking up some nice scalp trades.
Here's the rules I use:
Only trade in the direction of the long-term trend
When histogram line crosses zero enter the trade
I use a stop that I manipulate manually as the trade develops. By watching the indicators I can determine the appropriate stop level.
At one point I tried adjusting my setting so they produced "spikes" instead of rounded tops (and bottoms). But in doing so I threw off some other settings, which reduced accuracy.
But I'd much rather have a histogram with "spikes", like yours. Is it a custom indicator you created or something I might be able to download?
It looks to me like we have similar indicators but the underlying formulas in the code are a bid different. The main point is they function in almost the same. Just slicing up the data from a little different angle. I tried but can't tweak mine to appear like yours, though it seems either should work equally well.
hondo69 and Poocher, consider the ECO2 settings: Fast = 5, 1 SignalLen = 1, Slow = 8, or similar. Maybe even 4,1,7? These get you pretty close to rassi I think.
just been playing around and looking at this and i think a stochastic set to 5 3 3 will give very similar signals. i will post up some examples tomorrow as my eyes are killing me now and i need to sleep!