Indicators are useless. Seems to me that currencies representing the underlying economies and risk factors of nation states have a inherent equilibrium level and news events, speculators, and algorithmic trading push the market up and down, but ultimately it will tend to move back to its equilibrium level.
Well, let put this way, indicators are lagging. they tell you what already happened in the markets. I trade with no indicators except with trendlines, and price actions. pivots point are also crucial so you should study about it. Fib ratios play a huge roles in this markets.
Hope it helps.
I do however look at H4 charts and calculate my own median levels (export to Excel) and enter my trades when the price is far enough away from the median price. I’ve been calculating a standard deviation for these entry points. This is essentially a swing trading approach which results in very few trades, however it seems to work well for EURUSD. I have mixed feelings on fib numbers.
I wouldn’t say they are completely useless.
They certainly have no predictive value, but there are a few useful indicators that I like.
Anything based on standard deviation is useful, I like to normalize stops and scale in scale out levels based on average true range, oscillator divergence can be a useful tool to have in the box, indicators that make things clearer to see probably have a useful role, I have a couple of useful indicators that highlight higher highs, higher lows etc
some are great also for momentum drop-offs, like adx-2 for instance, Probably my favorite, OBV is great also, but they are only good if you use them properly…
I also use oscillator ,the stochastic and practice sometimes on divergences.
May i know what indicators you use?
Nope indicators are not useless but if you load too many indicators on your chart and then the mess you will look at probably make all of them useless.
And also you have to understand the idea that the specific indicator based on. That would help you to know which one to trust at the moment and how to iterpritate the information.
Indicators are what you make out of them, and depending on your strategy they may or may not be useful to you. I would not say that indicators are useless, but I could agree that those who use them without knowing how to are useless.
Yea, it’s called volatility.