yeah there are some GREAT tools that are simply basic necessities and understanding the draw of POC and the slippery power of LVN in the volume profiles will help you make good entries and exits for sure. I also love the OBV on balance volume indicator to spot divergence and the good old tried and true RSI/divergent. I always have up on the side screen, the time and sales when day trading or making critical entries or exits, but have not gotten into the order flow tool - it looks confusing if you can believe that coming from me (have you seen my charts o_0 ) But if you do a lot of reading that tool is supposed to be the bomb...Great thread! I'd like to add some of my hard earned knowledge. I don't see the mention of volume profile or order flow. These are the 2 most important indicators one can learn to use. ToS has a paid indicator called BookMap for $39.99 per month that is great for viewing order flow. I think it's money very well spent if you learn the basics of order flow. By using this type of chart, you will always be trading with smart money. As for volume profile, you will always know when the market is balanced or seeking balance. Just my 2 cents ..
maybe some good combos?
- Trend trader = MACD + ADX (trend confirmation) + Volume Profile (where big players are).
- Swing trader = RSI (timing entries) + OBV (volume confirmation) + Volume Profile.