Amibroker indicators: help me understand them

[JJZ]

Hi All,

Just playing around with the Amibroker Demo, I am floored by all the Indicators available.

Honestly as a newbie they basically look like pretty lines to me lol.

I was wondering if there are any good books/guides explaining what all the indicators are, and their uses etc..

Also are indicators fairly standard between applications? or will the same indicator look and behave differently between software applications/trading platforms depending on the programmers interpretations etc?


thanks
JJZ

 

[darkhorse70]

Re: Amibroker indicators help me understand them.

Trading for a living by Alexander Elder was my first trading book. Goes through the basic indicators and the elements of trading.

 

[Boggo]

Re: Amibroker indicators help me understand them.

Try these

http://www.incrediblecharts.com/topic/Indicator_Guide

 

[Gringotts Bank]

There's not a lot of value in indicators. Most turn out to be fancy variations of the simple moving average (which lags price action significantly). That's not to say you can't use them profitably, but the usefulness is very limited.

If you like using them, find yourself a good zero lag MA. Actually, the Hull MA on Amibroker is close enough to zero lag.

For mean reversion, RSI with a low period can be useful. As can Camarilla pivots. But AFAIK, many pros don't use indicators at all.

 

[Gringotts Bank]

Hull vs simple MA. You can see the smoothing, leading to less false signals.