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Combining indicators with market profile and orderflow?
I've been using market profile and orderflow for some time now and this is the first method of trading I'm seeing some consistency in, I was wondering if there are ways to use classical indicators like RSI or MACD (or any other indicators) to further refine and improve my trading odds.
Compared to orderflow and market profile charts, all the other indicators seem to be lagging in nature but if anyone is using any indicator to compliment their approach, maybe for higher time frame sentiment analysis or something else, I'd love to hear about that, thanks in advance!
well market profile uses 30min.. bars . so when price reaches your targeted area and if price has test that area in the last 36 hours or so you can use RSI to look for divergence or lack there of in the indicator and price for a filter of your set up . you can use moving averages or floor pivots as a bias indicator . a example its ok to take a long trade if price is above the 20,50,an 200 EMA . but you can not be short , reverse that for a short trade . example 2 its ok to be long if prices is trading over the mid point floor pivot but you can not be short , you can reverse that for a short . you can use value or developing value as a bias indictor as well . same idea . by eliminating one side of the market it makes things much easier . also it keeps you on the correct side of the trend . that is what kills the majority of traders even when they know better. hope it helps .
