I wonder if combinnig all the indicators in 4 types in 4 algorithms , can give a better idea about the trend, momentum, volume and volatility , or it will be just a waste of time ?
Well, I suppose you could give it a try. I now try and keep trading FX as simple as possible, as no-one apart from time travelers, would know what’s going to happen next.
A naked candle chart shows support and resistance zones and supply and demand zones. As these wave patterns are forever repeating there is an edge that could identify the probability of a winning trade - or at worst, preventing you from entering a losing trade…
Most indicators lag so it only tells you what has been not necessarily where it is going. I personally prefer to use the information candles give me to gain the info I need to make a prediction.
I’d say, imagine you’re a prosecuting attorney and you have a case that depends on testimony of a poor witness with bad eyesight to something that actually happened. The witness is your indicator: price is what actually happened. Do you think it would make your case stronger or weaker if the best you can do is produce a whole bunch of poor witnesses?
Yes, use indicators to confirm the market conditions. But don’t build your case on them.
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Traders are often tempted to use multiple technical indicators to “confirm” a potential trade signal.
It sounds like a good idea, but given the high correlation among many indicators, such confirmation is usually an illusion.
Unless the indicators being consulted are uncorrelated, which is usually not the case, they are probably simply repeating the same information, which defeats the purpose of using multiple indicators in the first place.
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My best suggestion is to test it and look at which strategies work better for you. Everyone that trashing on indicators mostly hasn’t tried all of them and only using 10-15 popular indicators out there, meanwhile, there are thousands of indicators they have no idea about. And instead of testing them, they’re too lazy and quickly trashing all of them in the scope of 10-15 they tried, what a nonsense 
And if they say it’s impossible to test all of them, it means their opinions on indicators are not worth listening to
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I had not heard before that there are thousands of indicators - what is this statement based on?
And surely there must be a source which also provides evidence of how well these thousands of indicators work and how to use them effectively. I have not seen this either so this would be useful too. I ask because if there really are thousands of indicators, it is impractical for a private retail trader to thoroughly test them all.
Normally I would say it’s a complete and utter waste of time but I’ve been in an argument with someone who claimed otherwise.
Personally I’ve not seen a better indicator than my eyes. Identifying and confirming a uptrend/downtrend/consolidation/breakout is as simple as drawing a few objects (trend lines, channels, fibs, triangles, rectangles etc) on your chat cus it helps reinforce your bias about the direction of price action, following the rules of technical analysis, of course. You won’t be always right but just training your eyes to recognise these patterns goes a long way.
Oh well, it’s more of psychology than analysis, I guess 
There is a YouTuber NoNonsense Forex who advocates using 6 Indicators to make an algorithm. He reckons there are 1000 s of recently developed indicators.
You would need a baseline indicator, confirmation indicator, volume indicator, second confirmation indicator, ATR and an exit indicator.
Apparently he has tested 1000s to arrive at his choice of indicators for his algorithm.
Based on reality, you have a website called google my bro where you can search and find tons of indicators. I give you one example, mql5 dot com is one of my favorites, you can look it up there. 1 page with 40 indicators and there are 58 pages. Now do your math, how much is it 58 x 40. And it’s just from one website, while there are many of them. If you use tradingview, you have tradingview indicators library, both built-ins or public library, it’s more than a thousand. It’s only the matter that you want to find it by yourself or not.
So what did you mean by never heard of it?
It’s because most traders out there are being told that indicators are only these RSI, MACD, MA, Stoch, etc. Meanwhile, there are thousands of others out there. And people only test this selected indicator and make a conclusion based on that which is bad. Why is that bad? Because most of the popular indicators are made for stocks and people simply use them for Forex. I also read someone above said that indicators are lag and useless. Just because you’ve tested these selected indicators doesn’t mean that you can generalize all indicators are the same. Even babypips school said some indicators are lagging and the others are not lagging, if only you have finished or at least read some of the material on the school of pipsology
It seems impractical because people are lazy and only want a quick result. It’s such nonsense that you want to be successful in this industry with minimum work. Actually, it’s very practical if you know how to do it. You need to understand what kind of indicators do you need for your own algorithm. Color-changing? Oscillator? Support Resistance? Line Cross? Or what? Then you can scan these tons of indicators at ease, and after you eliminate most of them, you can begin to start testing the selected that passed your elimination one by one. It’s like you are sitting in front of the locked door with tons of keys behind you. And now you start to taking the key one by one to test it on the door. But you know not every key will fit the door, so you can throw it off just by seeing it. You need to make time every day and build on your own algorithm.
The most important thing is, that you can’t make it just by using one indicator. You need to combine some of them, so they can confirm each other, give one signal for you to enter, and so on. But again as I said before, you need to test your strategies, either indicators-heavy or price action or any other strategies. So you can decide and REALLY know which one is better, not only know it from other people, yet the people itself haven’t tried it, which is funny 
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Whilst we can enjoy this to and fro on indicators, how does what you post help blfx?
By reading it carefully and do the work, and yes, there’s no such a thing as free lunch or free information given and hand-feed directly to you. Go search and explore it. I gave some clear points in my replies for him to explore on
There you go @blfx, you’ve had all the help you can expect from @jeremia_w.
Are you able to improve your trading based on what he said?
LMAO! You sound like a salesman 
Spot on… @blfx, If you have a trading strategy in mind… Huge chance someone has already developed an Indicator or Bot (EA) for it… MQL5 Site is fantastic. Not just for the downloadable content… You can browse through 100’s of the strategies demonstrated.
I use the Ctrader Platform so it’s no good for me… I still use it for ideas and inspiration… Good Luck
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Love it 
And I forgot to mention, that the indicators on mql5 I’m referring to, are FREE to download which leaves no room for any other excuses!