Your current setup creates massive indicator redundancy, particularly in momentum and trend identification, which can easily lead to analysis paralysis. While you have excellent tools for capturing trend direction and structural pivot points, your layout heavily overlaps across different charts. [1, 2]
- Momentum Overload: You are running RSI, MACD, and VWAP-MACD simultaneously. These indicators evaluate nearly the exact same price-action data. [1, 2]
- Structural Redundancy: The LuxAlgo Smart Money Concepts, MTF ZigZag, and Donchian Channels are all trying to map out swing highs/lows and trend breaks. [1, 2, 3]
- Use Regular Candlesticks (not Heiken Ashi) to preserve exact high/low price data for better S/R.
- Market Structure Indicator / Smart Money (LuxAlgo): Use this as your primary map for tracking shifts in character (CHoCH) and breaks of structure (BoS).
- EMA 9 & 21: Use this classic crossover pair to immediately gauge short-term trend bias.
- Marketsmith Volume Indicator: Keeps your focus on volume surges relative to the 10-week or 50-day average.
- VWAP-MACD or standard MACD: Choose just one of these to evaluate momentum strength.
- Consolidate: Drop either the MTF ZigZag or Donchian Channel, as your Smart Money indicator covers these pivots natively.
- Evaluate: Make a list of your past trades and see which 2-3 indicators were actually responsible for triggering the entry. Delete the rest to free up your screen..
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