TradeStation Indicators - How To Improve Your Trading Edge

Here is a more accurate way to understand the real trading "edge" which is made up of three things (1) Price Action, (2) Volume Action, and (3) Support and Resistance.

In Trading - Price Action is the prime important fact and Volume is second to price action. Price and Volume combined creates Support and Resistance on every trading chart. These three all important aspects of trading (1) Price Action, (2) Volume Action, and (3) Support and Resistance are the real trading "edge".

For #1 which is Price Action , I recommend the MTF_Trend Indicator to show "real time" Price Action on 8 time frames at once.

For #2 which is Volume Action, I recommend the Time Segmented Volume to see behind the "Wizard of Oz's Trading Curtain" to understand real trading volume action.

For #3 which is Support and Resistance, I recommend the Fractal Channel Indicator and MTF Fractals Indicator which shows support & resistance on 8 different time frames at once!

The Fractal Channel Indicator displays this "real time" identification of Price Action and Volume Action that traders call Support & Resistance without all the maybe stuff. The Fractal Channel Indicator displays "REAL TIME" support and resistance on any trading chart. The Fractal Channel Indicator is available as a stand alone TradeStation Add-on via the web site and only includes the Fractal Channel Indicator.

Where most Traders use potential Support and Resistance lines like Floor Trader Pivots, Prior Day Highs and Lows, common moving average lines, etc, etc. all this stuff is just "maybe" support and resistance areas and only Price Action and Volume Action will show if these "maybe" lines actually prove if they become support or resistance. Whereas the Fractal Channel Indicator is real time support and resistance without all the "maybe" nonsense. Trading tends to have an overwhelming amount of information so why add to that with a bunch of MAYBE support and resistance indicators like Floor Trader Pivots, Moving Averages, etc, etc when you can simplify your trading by only dealing with the real time support and resistance indicator.

For traders that want a automated exit solution I recommend the Fully Automated Fractal Channel Exit Strategy since the two most common challenges I hear from Traders is they take profits too quickly and they hold onto losers too long which is just the opposite of the golden rule of trading. The Automated Fractal Channel Exit Strategy works perfectly for these Traders that can make good entries and hand off the whole exit management process to the Automated Fractal Channel Exit Strategy. The Fully Automated Fractal Channel Exit Strategy is based on the Fractal Channel Indicator so it includes the Fractal Channel Indicator which is also available as a TradeStation Add-on via the web site.