So I’ve been studying Forex for almost 2 years now, i literately know almost every indicator there is, the problem is i cant seem to put all that into a strategy let alone trading plan its a bit overwhelming. Is it possible to create a profitable plan strictly based on price-action alone without indicators?
As for me, the main indicators are price and volume. All other indicators, such as SMA or RSI are tools to get additional confirmation signal. For example, you can trade chart patterns using indicator as confirmation.
Of course, there was information about indicator-based strategies like crossovers, but to they actualy work?
If you are interested in such things, you can draft short rules and back test it with some tools allowing testing on historical data (like built-in Tradingview tester of Forex Tester). As the result, you will get the data on performance and profitability of such strategy.
Of course, indicator-based strategies will be useful to create EA systems, as they allow to form a list of strict rules, because pattern recognition is more an art, than science.
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Yes it is and its called naked trading.
One gal here posts her charts all the time and there are no indicators.
I only have one MA indicator but lately have been asking myself why as I don’t ever refer to it to take a trade.
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Yes it is possible.
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the short answer is no long answer big NO 
sorry im just not see myself good at english i cant write the long comments:roll_eyes:
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I believe it’s possible! Price Action is one of the most powerful trading system to work with! By the way, you have to concentrate on the full chart.
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Of course. There are a lot of traders who just trade price. 
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i draft notes then backrest, i was doing it the other way round.
thank you.
At first time trading, I am also like to learn so many indicators, but now after learning basic market movement with theory demand and supply, I am leaving indicator and like trading without indicator or naked trading, I think also possible using candlestick as indicator and I am ever reading certain success trader like with candlestick pattern analysis
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well take it from me, experience and watching maybe 5K other traders that I have observed, forget the indicators and learn to trade price action, maybe a few candles and patterns but no more. Do it now. If you do not learn to read PA you may not learn to trade consistently profitable.
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i used to plan by strategies strictly on price action in my initial years, so yes, it is possible.
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The best is when you do not have a lot indicators on the screen. Chart will be easier to read and picture will be clearer.
The best approach is to take a 2 step back from your screen and see wide picture of the chart. Where is the trend and how pair is doing.
After that I use resistance/support lines and Price Action with RSI indicator. That is all what I have, and when I see PA with divergence on the chart, and with candle stick pattern than I know that is the trade I should take.
From my point of view indicator can be helpful, but without price action and patterns trading is, for me, impossible. Have in mind that most indicators are lagging ones and information they have is history data.
One advice would be:
- Have one trading pair
- Have strategy based on resistance/support line
- Use Price Action
- Look for patterns
- User R:R 1:3
- Always use Stop Loss
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