for day trading,I use 5sma as my #1 Indicator.Go with it's DIRECTION,if verified by WMS%,slow stochastics ,and keeping a close eye on MOMENTUM.
This is really a form of momentum trading, but is best system I have found after much experimentation and comparison of other indicators.Also have Bollinger Bands always on my charts.Breakout spikes are very reliable tools for buy/sell signals.Ever notice how SLW or any stock that is up good overnight,will fall off soon after the opening? Because it opened way above the Upper Bollinger Bands.
With 1 hr. or 1 day charts ,you get more headfakes, but 5 day charts are more reliable.
Note: anyone not liking T.A......I am not interested in your opinions.
Other T.A. believers i am welcome to hear your opinons.