Tools and Indicators for Price Action analysis

Barikui1

sr. member

Activity: 266

Merit: 205

Quote from: rahulzx on January 16, 2024, 06:26:27 AM

Quote from: Barikui1 on January 15, 2024, 02:34:38 PM

Quote from: rahulzx on January 15, 2024, 09:27:09 AM

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

Bro, if it's price action trading you truly want to learn, then I suggest you go for proper training, because price action trading don't make use of indicators.
It's a system of trading pattern where you use the candle stick and chart pattern to determine the next action of the market.
So as a beginner, you must be able to identify support and resistance first, before you will have to move on to the next level of your learning process.
So I advice you go for proper training first, before even considering trading futures.

yes ,considering I'm not a beginner, let me know the next level please.

If you are not a beginner then that means you can identify support and resistance right? The next thing you do next is to identify the market structure, like if the market is going up or going down or going sideways ( consolidating), after that since you have identify the overall trend of the market, the next thing to do is to know where the support level or resistance level are on the daily timeframe, the 4hrs timeframe, the 1hr timeframe and the 15 minutes timeframe to know what the market is currently doing base on the market structure, but note that the higher timeframe have more potency than the lower time frame.

Just I have said earlier, price action trading is a trading strategy that have high accuracy If you are being thought properly by someone that knows it very well, but always try to do your own research.
Most traders fail in trading because they were not thought properly or they have no knowledge about technical analysis, they just ventures into the market an pray it goes their way.
Go for knowledge first bro, before you think of the market.

rahulzx

jr. member

Activity: 164

Merit: 2

Quote from: snowpega on January 20, 2024, 08:37:33 AM

One Indicator you can use for buying and selling is RSI (Relative Strength Index) which gives you the best opportunity of buying and selling if it is lower than 30 it means it is a good time to buy and if it is higher than 70 it means it is not a good time of buying. DYOR

Market doesn't always work according to RSI 30 below to buy & 70 higher to sell, that's beginner level mate.

snowpega

full member

Activity: 476

Merit: 227

Dear, never depend on tools and indicators totally because sometimes they can also generate a wrong signal which can destroy your trade which as a result you have to bear a loss i have seen indicators generating wrong signals like what indicators are suggesting to the traders the thing happens after it is totally inverse.

One Indicator you can use for buying and selling is RSI (Relative Strength Index) which gives you the best opportunity of buying and selling if it is lower than 30 it means it is a good time to buy and if it is higher than 70 it means it is not a good time of buying. DYOR

rahulzx

jr. member

Activity: 164

Merit: 2

Quote from: GreatArkansas on January 17, 2024, 08:27:05 PM

Quote from: rahulzx on January 15, 2024, 09:27:09 AM

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

If you are just starting, I highly suggest using and learning the basic ones because they will be the core of indicators.
For example, volume indicators, moving averages, and RSI.
Then after that, familiarize yourself and know how it works so you will understand how these indicators work. Because most of indicators right now are based on other basic indicators.

Yes , I couldn't find any tool related to order count and filled count , most suggested indicators are momentum readings, not real time readings. Have you ever experience such tool or indicator?

rahulzx

jr. member

Activity: 164

Merit: 2

Quote from: milewilda on January 18, 2024, 03:30:46 PM

Quote from: rahulzx on January 15, 2024, 09:27:09 AM

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

Exchange charts are real time.. Ex. Binance / You could really make use of those indicators which are provided and some do even have those tools like having bots on which you could really make use of.
The only key on here is on how knowledgeable you are on making use of these features for you to be having that less hassle when it comes on making buying or selling orders.
Price action analysis? Then here's the indicator on which you could choose from on making use of it.

• Relative Strength Index
• MACD
• Bollinger Bands
• Learn candle stick patterns
• Fibonacci retracement
• Moving Averages

Here are my common indicators on which whenever i do tend to have that price action but of course you should really be that
knowing on how to check out some timeframe biases if you do make those price actions.

Can you see the statistics of data which include in particular position on the chart with above indicators? I mean how may orders come to the market and filled and market gaps before next market movement..

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: rahulzx on January 15, 2024, 09:27:09 AM

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

Exchange charts are real time.. Ex. Binance / You could really make use of those indicators which are provided and some do even have those tools like having bots on which you could really make use of.
The only key on here is on how knowledgeable you are on making use of these features for you to be having that less hassle when it comes on making buying or selling orders.
Price action analysis? Then here's the indicator on which you could choose from on making use of it.

• Relative Strength Index
• MACD
• Bollinger Bands
• Learn candle stick patterns
• Fibonacci retracement
• Moving Averages

Here are my common indicators on which whenever i do tend to have that price action but of course you should really be that
knowing on how to check out some timeframe biases if you do make those price actions.

God bless u

full member

Activity: 280

Merit: 110

Eloncoin.org - Mars, here we come!

For this you need proper training because in this a exchanges have different levels for buying and selling options.

They have different lines line that shows where the coin was down from, where it can go?, but what you have to do is, if its If there is a level, then you have to buy it and if you want to sell it at a high level, then you need a training. What is the method and what more can one learn from it by a good trainer of this indicators.

Yamane_Keto

hero member

Activity: 630

Merit: 510

TradingView is the right place to learn the basics. They have tutorials tab to find out more about how to apply, create and implement your own trading strategy, but as a beginner, start with something small like analyzing support and resistance points, moving averages, and RSI. There is also an Educational Ideas section, and if you are one of those who learn via YouTube or Udemy, there are thousands of educational channels that teach you the basics of trading.

By the end of your first week, you should learn to draw something simple like this

GreatArkansas

legendary

Activity: 2534

Merit: 1397

Quote from: rahulzx on January 15, 2024, 09:27:09 AM

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

If you are just starting, I highly suggest using and learning the basic ones because they will be the core of indicators.
For example, volume indicators, moving averages, and RSI.
Then after that, familiarize yourself and know how it works so you will understand how these indicators work. Because most of indicators right now are based on other basic indicators.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: electronicash on January 17, 2024, 01:39:17 PM

volume squeeze momentum. so many indicators for the market orders. every exchange has charts you can use to see where the market may go in every time frame you choose.

some traders are analyzing price action with just the form of candles and they could already determine price action. that would be for the experts i guess but most intermediate traders know the rule of thumb since what goes up must come down.

Volume is most important indicator in any market and for any coin. If your analysis does not take trading volume into account, it is a big hole for nightmare to happen with your trading decision and positions.

Big trading volume will be helpful for enter and exit the market with less price impacts and loss because of small trading volume. With big trading volume, technical analysis will be more accurate and it's explained why institutional investors always prioritize assets with big trading volume. They choose safety for their capital than chasing profit and don't have appropriate risk management.

electronicash

legendary

Activity: 3234

Merit: 1055

volume squeeze momentum. so many indicators for the market orders. every exchange has charts you can use to see where the market may go in every time frame you choose.

some traders are analyzing price action with just the form of candles and they could already determine price action. that would be for the experts i guess but most intermediate traders know the rule of thumb since what goes up must come down.

rahulzx

jr. member

Activity: 164

Merit: 2

Quote from: Oshosondy on January 15, 2024, 09:30:45 AM

Just to analyze the market? You can use the charts on exchanges. Exchanges have many primary and secondary indicators that you can use. I have seen several exchanges and have the chats in minutes, hours, days, weeks and months.

If you need more helping tooks, you can go for tradingview.

Couldn't find anything related to price action concept. Let me know if you know any resources.

rahulzx

jr. member

Activity: 164

Merit: 2

Quote from: Barikui1 on January 15, 2024, 02:34:38 PM

Quote from: rahulzx on January 15, 2024, 09:27:09 AM

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

Bro, if it's price action trading you truly want to learn, then I suggest you go for proper training, because price action trading don't make use of indicators.
It's a system of trading pattern where you use the candle stick and chart pattern to determine the next action of the market.
So as a beginner, you must be able to identify support and resistance first, before you will have to move on to the next level of your learning process.
So I advice you go for proper training first, before even considering trading futures.

yes ,considering I'm not a beginner, let me know the next level please.

Barikui1

sr. member

Activity: 266

Merit: 205

Quote from: rahulzx on January 15, 2024, 09:27:09 AM

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

Bro, if it's price action trading you truly want to learn, then I suggest you go for proper training, because price action trading don't make use of indicators.
It's a system of trading pattern where you use the candle stick and chart pattern to determine the next action of the market.
So as a beginner, you must be able to identify support and resistance first, before you will have to move on to the next level of your learning process.
So I advice you go for proper training first, before even considering trading futures.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

Just to analyze the market? You can use the charts on exchanges. Exchanges have many primary and secondary indicators that you can use. I have seen several exchanges and have the chats in minutes, hours, days, weeks and months.

If you need more helping tooks, you can go for tradingview.

rahulzx

jr. member

Activity: 164

Merit: 2

I'm researching for analyze real time market order positions contains in candles, Kindly suggest me some tools and indicators you use for same purpose as mine.

Topic: Tools and Indicators for Price Action analysis (Read 165 times)