Trading with PA "No Indicators"

[Trading with PA "No Indicators"]

This is an interesting topic. I hope this input is not too far removed from it...

 

I think if an indicator can show a certain aspect of price &/or volume &/or time behaviour that you believe is important then it should be used. If you can look at price &/or volume &/or time and trade/invest without the aid of any 'indicator' then that is right too. I actually believe that the better a trader gets the more likely it is she (or he) will use only price, volume and time. I suppose my point here is that there is no one right and wrong way.

 

I say all this because up until recently I have been a 'no indicator' believer (not because I am one of those good traders - far from it). But I have recognised I need to see a relationship between price and volume that my price and volume charts were not showing me clearly, and so now I use an indicator to help me see that relationship. I think the key to using an indicator is to fully understand what it is showing, fully understand the mathematics of its calculation (most indicators are simple enough for me to understand the maths...so anyone can!) and fully understand it limitations and constraints. I would also add that my use of the indicator does not extend to it being the buy/sell trigger - I would be interested if anyone does use an indicator in this way as I believe the entry and exit decisions comes from price alone.

 

 

 

Another point - what is an indicator?

I use the volume at ask minus the volume at bid on my charts - is this an indicator? I think of it as data generated by the market, it only becomes an indicator if I do something like apply a moving average to it.

 

Just wondering what software you might use to get the "indicator" volume at ask minus the volume at bid? Sounds like a great concept.

 

Thank you,

 

HTM

[[VSA] Volume Spread Analsysis Part III]

TU Tams,,tried to IM you but was not allowed..

 

can this copy from the quote be directly copied to TS EL somewhere....are you familiar with ATW?

 

TXS

[[VSA] Volume Spread Analsysis Part III]

I am new to TS and EL, Sorry....How do you transfer code to TS.

 

I tried using copy to word but it did not maintain the correct code.

 

Sorry for the inexperience ...would appreciate any help ..thank you