hi guys
i use float indicator.
what the best indicator for filter this indicator?

thx

There isn't one that I'm aware of sorry. All indicators are just that - indicators, so all have the ability to contradict and repaint themselves. I swear indicators like the float, MACD, CCI etc are put out to the masses as a distraction.

Hi

You can use Divergence really work NICE.

Kaveh

Float *does repaint the past.. however classic indicators like RSI, MACD etc.. do not repaint. A good portion do not actually.

It's all a matter of how you precieve them. An indicator can tell you so much more then just overbought/oversold levels etc.. I don't believe they are a distraction, but then again i'm sure my system is completely different then anyone elses -- and yet somewhat similar.

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Use multiple time frames. This has made a significant difference in my trading performance regardless of which indicator I use.

Recognizing where recent highs/lows are with a simple glance at a chart instead of using the stupid indicator is your best filter.

Can we not see points where price stopped and reversed for half a day or longer on a chart people?

Float just tells you you're coming up on those points.

If you need an indicator to hold your hand and confirm for you the points were real you need to improve your skill before trading more.

You could just use fractals in the same manner.

Neither the floar or a fractal guarantees price is going to stop at the key levels, the levels are often breached, so just frikin make a mental note of key turning points, jeez.

Just some tough love for you.

If you want to use indicators use them, don't listen to 006.

You will need to do much better than that to avoid looking like one yourself.

Explain to me where I am wrong or you're just being a negative punk.

Someone else in here has also explained this is all this indicator does.

Also, can you explain to me how the floor traders at the CME make so much money if they just can't live without the float indicator? They don't even know what the hell it is. But you just have to have it don't you because you don't want/cant simply make a note of recent highs/lows.

But hey, I'll accept being proven wrong.

Go for it.

Sorry, but you seem so narrow-minded when it comes to using indicators. You seem to claim that all indicators such as oscillators, CCI, MACD (or those are the ones I remember you reffering to) are totally useless.

Each of those different indicators takes the same data or close to the same, and analyzes it in a differen't way. If you can understand one enough to make solid trades, then it helps. If you can't use an indicator because you can't read what it is saying past the usual buy/sell when it crosses, or which line is on top etc. then yes you shouldn't be using them.

You claim to be a decent trader (006), so I figure you can look at the highs and lows and be able to determine where the market will go based on that. You understand this a lot more than you understand indicators. If someone had no ability to judge where the market would go based on the price changes, but could predict the market using an indicator, then they could argue that using price changes is useless, and all that matters are indicators. I bet when you read that that you think, "Hey, that's ubsurd!" Yes it is, but so is disreguarding indicators entirely.

The best way to go about trading is by using a mix of both. I use CCI mainly, a few moving averages and candlesticks. I rely on my CCI and multi-time frames to be able to judge where the market goes. However, a lot of the time the CCI and the price changes disagree, but I can notice this very easily, and is usually when the market is being pushed in a certain direction. Being able to realize when an indicator is usefull, and when it isn't is a must have when using them.

Every trader recognizes patterns in differen't ways. People might point to E-waves, V patterns, or crosses. But it isn't as simple as seeing a pattern. The market consists of constant e-waves, v-patterns and crosses, it's being able to recognize which under the correct influencing factors makes it the right one. (So for new traders, don't get hooked on these mainstream ideas, or even catchy phrases like let your winners ride, because you start to see patterns in everything).

Maybe indicators don't work for you (006), but your not the only trader, and your definetly not one of the better ones. If I where you, I would drop the whole "I've traded for a long time attitude," and be more open to the idea that other people see things differently.

EDIT - Yeah, and I'm not reffering to the float, just your attitude towards all indicators.

Think its possible you're not the one with the open mind Signo?

I'm not understanding why one has to use CCI. Its psychological support, its holding your hand and telling you its ok to go in the water Junior.

CCI measures price in proximity to recent highs/lows and change in average pricing/momentum.

A simple moving average can do that along with believing your eyes that recent highs/lows actually took place. You don't even need the average. Just eyeball the Open marks of price and see how the close is behaving (slow, agressive, moving up past the recent opens, below the recent opens etc.)

I can look at a price chart with nothing on it and instantly see that its been near highs and is losing momentum in under five seconds.

You don't need a float to hold your hand, you dont need cci to hold your hand, all you need is common sense and recognition. If you want to be a pompous ass with no open mind accusing people of being negative because they point out some realities thats a problem, not a solution.

My intent was to toss out the idea that all this spaghetti is based on price you can read anyway, with the intent to possibly help a few people improve their perception just a notch.

Fine, attack me like the negative creep you are.