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  1. #1
    Veteran Member randy1953's Avatar

    SR and Fibs indies !!!

    Here are a few of my favorite indies for SR and Fibs
    http://www.filedropper.com/supporfibs

    Please do read Ronnel comment also and it makes much sense.
    Another thing I forgot to mention any time you are using indies like this after a short while you will find that the lines are not correct on your chart anymore. the reason is they need to be refreshed every now and then . All I do is just change the time frame of a sec jump to any other time frame and back allows all your indies to refresh
    Last edited by randy1953; 02-09-2016 at 03:17 PM.

  2. #2
    Veteran Member Ronnel's Avatar
    Thanks Randy for sharing.

    For newbies and for traders who are not yet good with Support and Resistance. My humble suggestion is to learn how to plot your S/R manually before you move on to Fibonacci plotting. Fibonacci is a good tool but if you don't know how to properly plot it, it can only ruin your trade. There are specific areas where Fib must be plotted and with a good understanding of S/R, you will know where to plot it and how to use it. You can use the S/R and Fib indies but be warned, sometimes automatic plotting may be different than what you may expect if compared to manual plotting and must also learn what TF charts they work best. Mostly they don't work that well for very low TF. Learn the basics and when you are good with it, using those indies can really help but only if you know what you are doing.

    Think about this... why do many top traders plot their trendlines, S/R, Fib, etc, manually??? Why do mechanics have lots of different box sockets??? I can give my mechanic's tool box to a wannabe and I'm sure that he won't be able to change the crank shaft bearing... Trading is also the same. Learn the basics and those tools will be there to help. Don't learn the basics and belong to the losing 90%

  3. #3
    Veteran Member randy1953's Avatar
    Yes it is always better to learn and draw your lines than use any indie to do so. However many times I don't have the time to go and look at several time frames etc so I use the indies. It's a judgment call on my part given the kind of strategy I am using.

    Ronnel who I have ton's of respect for is spot on. I also see the the most accurate and profitable traders are ones using only price actions with no indies at all. some of these traders can produce up to 90% ITM all the time.
    It's really has become more of a lost these days. My point regrading this whatever your strategy is the more price action you can bring to it the higher your ITM will be imho.
    SR lines are like walls between the price some walls are very strong and lasted for months hence they are reliable to use in your trading
    Last edited by randy1953; 02-09-2016 at 03:10 PM.

  4. #4
    Legendry Member milos's Avatar
    Quote Originally Posted by randy1953 View Post
    Here are a few of my favorite indies for SR and Fibs
    http://www.filedropper.com/supporfibs
    How much is reliable?

  5. #5
    Veteran Member randy1953's Avatar
    Quote Originally Posted by milos View Post
    How much is reliable?

    It depends I like them and use them all the time just for a little added confirmation however I wouldn't use them for a price action strategy where you are county only on the S lines, Trend lines and FIbs etc.
    When I trade 60 secs I like a real clean chart just how I like to trade so I will pop them on and then take them off all the time.

  6. #6
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by randy1953 View Post
    Here are a few of my favorite indies for SR and Fibs
    http://www.filedropper.com/supporfibs

    Please do read Ronnel comment also and it makes much sense.
    Another thing I forgot to mention any time you are using indies like this after a short while you will find that the lines are not correct on your chart anymore. the reason is they need to be refreshed every now and then . All I do is just change the time frame of a sec jump to any other time frame and back allows all your indies to refresh
    please stop just posting links to filedropper, if there is a useful tool in there tell us what it is, explain it to us, create a post that is actually useful.

    here is a link to our article on how to use Fibonacci for support and resistance.

    heres one about the support and resistance tool

  7. #7
    Administrator Martin Kay's Avatar
    Quote Originally Posted by Michael Hodges View Post
    please stop just posting links to filedropper, if there is a useful tool in there tell us what it is, explain it to us, create a post that is actually useful.

    here is a link to our article on how to use Fibonacci for support and resistance.

    heres one about the support and resistance tool
    I agree. Those are not helpful at all and we have them covered on school
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  8. #8
    Legendry Member Okane's Avatar
    I just wonder, how do you have so much time to find and to try out all these
    strategies and systems while helping your clients and making all these posts.
    You have tested 80-90% systems on a daily basis, amazing!
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  9. #9
    Veteran Member randy1953's Avatar
    Guys of course those are useful tools I use them all the time.
    Live trading now do not have the time but one day I will make time . If martin can put a 60 sec option on the CT platform even better.
    If not I will have to use a modified version of what I currently use

  10. #10
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by randy1953 View Post
    Guys of course those are useful tools I use them all the time.
    Live trading now do not have the time but one day I will make time . If martin can put a 60 sec option on the CT platform even better.
    If not I will have to use a modified version of what I currently use
    Yup, that's what I thought... no proofs and no answer to my remark... I didn't say they weren't good tools. only that your method of dropping a file on us with no details is a bad post... we'd like you to spend more time explaining how one indicator works with some examples, and less time spamming the forum with endless links to file dropper.

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