My Minimal Yet Effective Approach to Technical Analysis

by Roger Scott | Sep 3, 2026

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I got a question the other day that made me chuckle a bit…

Someone wanted to know what my full chart setup looks like. They probably expected some sprawling list of indicators, oscillators and custom tools. But here’s the thing: I actually use five times fewer indicators than most traders.

Most traders overcomplicate their charts, thinking more data equals better decisions. But I’ve learned over the years that clarity beats complexity every time. I only use what I need — and today, I want to walk you through exactly what’s on my charts and why it works for me.

The Moving Averages That Actually Matter

Let’s start with the backbone of my setup: moving averages.

I use the 200-, 100- and 50-day moving averages (MAs). These three give me the big picture — where institutional support may live, what the longer-term trend looks like and where key pivots might form.

I also use the 15- and eight-day exponential moving averages (EMA). These shorter-term averages help me identify momentum shifts and near-term support or resistance zones. They give me a cleaner read on whether price is holding its short-term trend or beginning to break down, which can help with timing entries and exits on the daily chart.

I also track how far an asset has moved from its eight-day EMA. When price becomes too extended, the odds of a pullback or consolidation can increase. When it stays close to the average, the move may be more sustainable. That simple relationship helps me judge whether I’m early, late or right on time.

Volume, ATR and the Broader Market

Beyond moving averages, I display volume and average true range (ATR). Volume is non-negotiable — it shows me where the commitment is. ATR helps me understand volatility and set realistic targets.

Then there’s ADX. I’ll be brutally honest: I don’t really need it. I think it was added during a demo one day and I never took it off. I can see trend strength with my eye — I don’t need an indicator to confirm what price action is already showing me, but others might.

For intraday trading, I use a 5-minute chart with VWAP and a few simple tools and lines that I draw each day. That’s it. No fancy algorithms or cluttered screens — just clean price action and a handful of tools that help me make better decisions.

This setup also makes broader market conditions easier to read. If the S&P 500 (SPY), Nasdaq 100 (QQQ) and VanEck Semiconductor ETF (SMH) are consolidating below their eight- and 15-day EMAs, that tells me short-term momentum is favoring the downside. I don’t need a dozen signals to reach that conclusion.

The lesson is simple…

You don’t need a dozen indicators to trade well. In fact, the more you add, the more noise you create. Focus on what matters — price, volume and a few key levels. Everything else is a distraction.

I hope that helps!

Roger Scott
Roger Scott Trading

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