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Thread: Chop indicator

  1. #1
    Standard Member Array fx_dude's Avatar
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    Chop indicator

    Just putting this one out there...... probably not getting far but I still would like to hear about what you kind people think... please!

    I am looking for a good indicator to keep me out of chop, most indicators are great when the market is trending.... now! whats the best one (indicator/strategy) to manage chop.... there must be something someone is using that has had some success

    Please comment bellow what you use and what has been your successes and failures !!!

    Appreciated! Cheers

    PS: I am new on here and don't have many contributions! but.... u got to start somewhere right!

  2. #2
    eXtreme Trading Array dk1aussie's Avatar
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    have a look at this thread it might helpful

    http://indo-investasi.com/showthread.php/19033-5-min-scalper

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    Bronze Member Array capsmart's Avatar
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    Fx_dude, I would suggest using the ADX or DM (more or less the same indicator).

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    Have a look at the timeframe on the FX market, if you trade the H4 chart you will see that action always happens around the 20.00 to 0.00 timeframe, either a trend starts, stops or it is a consolidation of a existing trend, you just need a filter to tell you at the 20.00 or 0.00 time which way it will go, if it is a trend already in play the use the low of the 20.00 bar for your stop/loss. Time is more important than price !!

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    what's 20.00 in GMT?

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    I personally use ADX for detecting choppy markets. when ADX is below 18 I consider it as a ranging/choping market.

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    Standard Member Array fx_dude's Avatar
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    Thanks a lot to all who put their thoughts through.... looks like ADX is the winner :/

    @john1368...... don't really follow what you trying to say there man!!! maybe it's just me

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