Indicators lengths

[aquaeyed]

Hi. Just want to be sure, for choosing indicators length I should go for shorter times when trading 15 min charts and longer at 1 day charts? what i mean that i will take stochastic 8.3.3 on 15min and 14.3.3 on 1 day? or am I wrong?
and with ADX the same questing. Also when I tried ADX 8 I really didn't like it on 15 min.
Also what about EMA 50 is it ok on all times or maybe on 15 min need be shorter? Also my Bollinger Bands on 50, is it too long ?

Please share you opinions and explain why you thing your indicators length is the best for you .
snx a lot.

[Bogdan G]

Hi. Just want to be sure, for choosing indicators length I should go for shorter times when trading 15 min charts and longer at 1 day charts? what i mean that i will take stochastic 8.3.3 on 15min and 14.3.3 on 1 day? or am I wrong?

First of all, a shorter period for almost any indicator will make it more "active", it will travel faster and it will be more choppy. Please compare RSI 4 and RSI 21 (put them both on your chart) or Stoch 5,3,3 and stoch 15,3,3. Now, if you are trading a short time frame which is known to have a lot of noise and jerky movement, it would be better to use a longer period for your indicators to smooth out that choppy movement. The longer the period of the indicator, the smoother it is but it will give you less signals (although more reliable in my opinion). The opposite applies to a longer time frame: since the movement is slower, we want a faster setting for our indicators so we get them to react quickly.
This is just my way of doing things and my opinion. Please choose what you are comfortable with.

[Bogdan G]

and with ADX the same questing. Also when I tried ADX 8 I really didn't like it on 15 min.

ADX 8 is too fast and reflects just the latest move (8 candles). You need to analyze a larger sample for it to be conclusive. You won't get the Holy Grail, but I think it's better than 8

[Bogdan G]

Also what about EMA 50 is it ok on all times or maybe on 15 min need be shorter?

EMA 50 will be calculated based on the last 50 candles, whether they are 15 min candles or hourly or daily

[Bogdan G]

Also my Bollinger Bands on 50, is it too long ?

Bollinger 50 is too wide. I never thought about using that setting. Is price even touching it? The default works best in my opinion, but like I said, this is just my way of thinking so you dont have to do it the same way. Whatever works for you is best

[aquaeyed]

Hi Bogdan. Snx for answers. I really thought the opposite way , for shorter times-shorter length, but i will try your settings now. about biollinger , i took it from other site, video course that i talked at other topic. It was setting that worked for other guy.

what i hate at Forex studding it so many opinions that very hard to learn it. but we would never stop and win the golden price =)

again, snx for quick answers.

[Bogdan G]

You're welcome man. I know there are a lot of opinions and sometimes people put too much effort in proving that their way is the best way. That's why I always say " Whatever works for you is best". So, dont follow my way, dont follow anyone's way but listen to what they have to say and make your own choices. After all, a man is defined in a way by the choices he makes.

[crimson69]

Any Indicator you can use on your trading platform with any time frame. You can customize it from indicators properties. if you wanna see your indicator for a certain time frame, just select from options. You have to follow indicators and time frame both at the same time and carefully.

[Michael Hodges]

You're welcome man. I know there are a lot of opinions and sometimes people put too much effort in proving that their way is the best way. That's why I always say " Whatever works for you is best". So, dont follow my way, dont follow anyone's way but listen to what they have to say and make your own choices. After all, a man is defined in a way by the choices he makes.

Bogdan, what are your thoughts on adjusting the settings of the standard indicators. I typically only use the standard setting, I have been using them that way since the beginning and have found it to be the best for me. I have compared different settings and compared different indicators to each other and discovered that in the end they all tell you the same things, basically. I think the key is to learn to read the market with a couple of indicators and not rely on a magic setting for any one indicator because they all suck sometimes.

[Bogdan G]

Well, Michael, all my indicators are adjusted to show me a higher time frame. For example, if I want to see a 50 SMA for a 15 minute chart on a 5 minute chart, I will use 150 period SMA (on 5 min). Hope that makes sense.
All indicators (almost) can be calculated in order for us to see a higher time frame on the current time frame chart.
But to answer your question, most of my indis are adjusted for the pair I am trading so I'm not using default settings. My MACD had standard settings when i used it but all others were adjusted.
Another thing: put a 14 RSI on a chart with the 50 level drawn. Put a 14MA on price. When the RSI crosses the 50 level, price will cross the 14MA. Try it with a CCI, try it with a Stoch and you will see what I mean