Powerful trading indicators! The Market Overview for this week, 7/12/15, show just how powerful the trading indicators are. There are a lot of trade setups at the Average True Range Stop and the support and resistance zones (Congestion Zones) but not all equal. Why? Because the higher timeframes are also showing support or resistance in the same area. If you are trading against an area of support or resistance then you can easily have a losing trade because the higher timeframes are powerful, especially when they form an area of support and resistance.
Powerful Trading Indicators for NinjaTrader, TradeStation and Multicharts
In the video this week, Gail shows you exactly what this means. The Aussie Dollar is at an area of resistance on the 45 minute chart. However, using the NinjaTrader Market Analyzer, the 180 minute chart is showing an area of support about twenty ticks away. This explains why you sometimes enter a trade to have it go in your direction for a few ticks and then goes back only to stop you out.
Powerful Trading Indicators on Futures
Gail then goes on to show you how this same example played out last week on the Canadian Dollar and why you always have to be on alert (which is why we programmed the indicators with alerts and for the NinjaTrader Market Analyzer, Multicharts Scanner, and TradeStation RadarScreen) so you are never trading against the higher timeframes, especially when there is not enough room for profits (and in this example there was only 20 ticks of potential).
TradersHelpDesk offers multiple packages and subscriptions for TradeStation, NinjaTrader and Multicharts, as well as individual indicators for each of the platforms.