MACD Used Intraday

[cpatte7372]

Hello

Can someone provide me with information where MACD has been used intraday. I have been reading a lot about MACD and most of the information suggest that the benefits come when using MACD for daily, weekly or monthly charts.

Just want to chat with someone who has successfully used MACD intraday.

Cheers

Carlton

[cpatte7372]

OK,

I guess you can use indicators for any timeframe. May be I should ask if anyone can tell me what settings are best used when daytrading. I'm sure the defaults are commonly used when daytrading - but I could be wrong.

Cheers

Carlton

[cpatte7372]

What I really meant to say was,

'I guess you can use macd indicators for any timeframe. However, I would like to hear from those that have been successfully using macd on an Intraday basis'. If so, we're you using the default settings? If not what settings worked best for you and why?

I wrote the last post at 4am and must have been a little delirious

Thanks

Carlton

[aerbis]

If indicators worked then all you would need is money. Try simplicity. Study price action, patterns, simple candle formations (doji, harami, etc.), volume, SMA's(20 and 200 intra and 40 or 50 for dailys-weekly) and multiple time frames(2, 5, 15, 60, daily and weekly for each symbol) and you'll be on your way to profitability...

[soylent]

I like macd for general trend following.

5-35-5 works really well on daily and intraday. It catches most / all of a good trend and gets you out as the trend is dieing. But, it only works well in a trending market. When things get too volatile it's not as good. And, trading ranges get really ugly.

You have to be able to spot a location for a high potential to trend. I find AGET (Advanced Get) helps spot those locations and general Fibonacci works well, too. But, AGET is 'supernatural' in it's ability to pick wave 5 locations...

I've tried lots of other MACD settings and they have never worked well for me. The 'default' setting must be so new 'traders' lose all their money before they become proficient. I know 12-26-9 it cost me a few $...

[cpatte7372]

Soylent/Aerbis,

Thanks guys. I'm going to put your theories to the test and let you know how I get on.

Cheers

Carlton