Buy/Sell Signals
Last updated
Last updated
If you haven't figured it out by now, you should NOT follow the buy/sell signals blindly. I get messages every single day saying "The indicator isn't giving good signals, blah blah blah". The indicator isn't just a simple "follow the buy/sell signals" indicator. You have to incorporate many other trading techniques within the indicator's arsenal in order to make it successful.
What I personally like doing is going on a very large timeframe to see the general direction of the market. The weekly or daily time frame will suffice.
These are just a few examples of what you should be looking for on these larger time frames. I have already written many detailed tutorials on each tool. I would deeply suggest learning about each tool first before you start trading with the indicator.
Once you know the general direction of the chart on a higher timeframe by using the tools listed above, you can then switch to a lower timeframe like the 15m, 30m, 1hr, 3hr, and follow the corresponding buy/sell signals there.
So if there are bullish fair value gaps, positive %'s on the breakout probability tool, and bullish metrics on the key metrics table, you would take long trades only.
if there are bearish fair value gaps, negative %'s on the breakout probability tool, and negative metrics on the key metrics table, you would take short trades only.
Anything in the middle is just noise and is just a ranging market (which we want to avoid).
Hopefully this clears some things up on how you should be using the buy/sell signals.
Once you are on this higher time frame, you should be checking all the tools that you have at your disposal. What's thedoing? What's the tool say? Is price near a ? Are there nearby? Are there any on the chart?