Been digging into some of Shopster's setups over the past two-three months and that brought this indicator to my attention:
ZeroLag MACD
I'm not normally a fan of lagging indicators, and despite the name of this indicator, it's still based on past price, and thus lagging (just less than regular MACD.) ...But, that doesn't mean you need to use it 'traditionally' the way MACD is used.
Specifically, I'm finding the way this indicator makes divergences stand out (almost exaggerated even) to be very interesting. They stick out like a sore thumb, unlike traditional MACD where most divergence traders are trying to measure a very gentle slope, divergences with ZeroLag seem to be drastic.
Does that mean you just need to trade every divergence you see? No. But combined with a few other filters and a proper trading plan based off your own research into a target pair and how it acts with this indicator might yield something worth committing capital to.
How it looks and the indicator is attached.
ZeroLag MACD
I'm not normally a fan of lagging indicators, and despite the name of this indicator, it's still based on past price, and thus lagging (just less than regular MACD.) ...But, that doesn't mean you need to use it 'traditionally' the way MACD is used.
Specifically, I'm finding the way this indicator makes divergences stand out (almost exaggerated even) to be very interesting. They stick out like a sore thumb, unlike traditional MACD where most divergence traders are trying to measure a very gentle slope, divergences with ZeroLag seem to be drastic.
Does that mean you just need to trade every divergence you see? No. But combined with a few other filters and a proper trading plan based off your own research into a target pair and how it acts with this indicator might yield something worth committing capital to.
How it looks and the indicator is attached.