jenj,
Try putting together the combination of BB, stochastics and MACD. I like to use the upturn of the slope on MACD (not the signal line) as a confirming indicator for stochastics. It sort of puts a "bottom" under the false signals you get from stochastics. With stochastics, my favorite pattern is a sharp upturn off the bottom (below 20), cross over at 20, and a steep up slope, confirmed by MACD upturn. The most frequent use of RSI is to watch for divergences in behavior between RSI and the stock price pattern. If the stock is making a new high, but RSI is not, then you can expect a reversal. I find I spend more time trying to figure this out when in the heat of battle, than I want to mess with. I know that Wilder has 5 ways of looking at RSI...Tops & Bottoms; Chart Formations; Failure swings; Support & Resistance; and Divergences. The WINs approach seems to advocate a different approach to RSI..i.e., using it's postion above and below the signal line as an indicator of overbought/oversold. Herm, any comment?
Also, one minute feed for daytrading isn't quick enough to beat the MM's. IQC's real-time feed is also 1 minute, but it updates instantly to current if you whop the recalc button. Top that off with a trade by trade streamer, instant execution, perfect psychological profile, $500,000 minimum..and you probably won't get skinned too badly daytrading. Lots of fun , though. |
