In his article “What is price action?” Al Brooks raises the question: “If not candlesticks or indicators, then what is price action?” His answer is very clear and compelling.
“Traders correctly believe that Goldman Sachs, high frequency trading firms, and hedge funds make a fortune. However, they are not using candlestick patterns and indicators to do so.
So, what do successful traders do instead? Carefully listen to technical traders on CNBC…they tell you every day! They repeatedly talk about support, resistance, channels, prior highs and lows, and trend lines, and you rarely ever hear anyone mention a candle pattern or an indicator.They also talk about whether a trend is strong or if the market is in a trading range. They mention higher highs and lows in a bull, and lower highs and lows in a bear, and they assess buying and selling pressure, probability, risk, and reward. Finally, they often talk about trade management, like where to put stops and when to take profits.”
Hello there, I’m Thomas Deutschmann, founder of PriceActionIndicators.com.
We’re committed to deliver a collection of high quality indicators for NinjaTrader. Our indicators cover a wide range of tools for Technical Analysis of Price Action, including Support & Resistance, Trend, Momentum and Reversal Signals. Price Action Indicators can be used to show entries close to Support and Resistance.
Price movements are always very precise, because most traders and computers are aware of the key price levels, which are support and resistance and draw markets to them. To enter a trade with a favorable risk/reward profile, you need to enter when traders have become trapped or are getting trapped out.
Remember, you need to compete against computers and need to have the best edge that you can get. Our Price Action indicators help you to make quick decisions and not to miss anything, as small things (can) have a great impact.