Indicator for Identify Reversal Trend?

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Thrall
121
Thrall  

Hello friends, anyone know one good indicator for identify reversal trend on low timeframes?

I'm using M1.... check this screenshot below:

Stochastic got above 80 and the price not back, go up....

I know don't have strategy that is 100% accuracy, but if have some indicator that identify that false signal will be good...

Thanks!!

Files:
ptc8lxr.png 27 kb
krelian99
1202
krelian99  

The period of the stoch on the picture is way to short. This is MT default 5,3,3. Under 14,5,5 it is not useable. For trends use minimum 32,8,8. But to identify reversals is the hard part. Divergences show to often only short retracements. Here SMI and Wildhog would be interesting for you (!period not to short!). The other posibility are patterns. Harmonic patterns, Japanese Candlesticks, Woody's CCI patterns, Wolfe waves and so on. Bounce off levels are Fibonacchi lines, Murrey Math, pivots lines. As mentioned, the reversal points are not easy to find. That's why many people trade trends. This is much easier. BTW, M1 is very dangerous. You loose more to your broker cause you pay spread and commision than to the market.

Thrall
121
Thrall  

Thanks for your answer!

Yes i know m1 not is easy to trade, i have my strategy for H1 and i have great success with that... last week i got more than 300 pips with that...

But the problem need time to get some signals, and i have more time to work, so in that time i'm planning to use some scalping strategy...

Thanks

krelian99:
The period of the stoch on the picture is way to short. This is MT default 5,3,3. Under 14,5,5 it is not useable. For trends use minimum 32,8,8. But to identify reversals is the hard part. Divergences show to often only short retracements. Here SMI and Wildhog would be interesting for you (!period not to short!). The other posibility are patterns. Harmonic patterns, Japanese Candlesticks, Woody's CCI patterns, Wolfe waves and so on. Bounce off levels are Fibonacchi lines, Murrey Math, pivots lines. As mentioned, the reversal points are not easy to find. That's why many people trade trends. This is much easier. BTW, M1 is very dangerous. You loose more to your broker cause you pay spread and commision than to the market.
traderduke
531
traderduke  
Ray Cooper:
I am technical based trader, so using trading indicators is very common picture in my chart. But, usually I use custom indicators that I practiced six months in my demo trading account. Actually, I use those indicators because I get market trend as well as reversal signal from those indicators. T

Anything you care to share?

techmac
2976
techmac  
traderduke:
Anything you care to share?

Trading results would be nice But I doubt that he has anything close to it

Pascal
271
Pascal  

Channel indicator from the first post repaints

millatbd
6
millatbd  
Pls gave me this templet.
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