Exactly. I have been using moving averages and oscillators together while trading and they’ve allowed me the customization element, by simply changing the input values and the user-defined variables to alter the indicator behavior.
So you’re saying that technical analysis or indicators help us deal with probabilities instead of the certainties?
Yes it is, I can give you one tip: go watch NNFX on youtube!
Please help me understand the link behind “probability” of hitting your limit before a stop and using indicators?
As in how they use price action? Price action is no indicators, using only the S/R zones and at those zones you look for certain candles formations and go from there.
I literally just came from using RSI and MACD to going only price action with no indicators, PA just works better for me. Have backtesting on PA I can share as well.
I also wish we could find that indicator that tells us future trends. lol
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I have always though of S/R zones as an indicator myself. Either the horizontal lines or the parallel trend lines of a bull or bear trend.
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You certainly could view it that way. I don’t think there would be a right or wrong. I think though when people discuss indicators they are referring to actual lagging indicators.
The S/R zones the most important part of a Price Action strategy for sure. If you don’t have those marked right then your whole set up will be off. Well depending on how you trade PA that is.
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Indicators are overhyped.
Price action is ovehyped.
Trailing stops are overhyped.
Every kind of technical analysis is overhyped.
I’m finding a lot of support for my line of thought here, I don’t know how much of it is sarcastic though 
Lagging? Are you sure? All this while I have been thinking that RSI is a momentum indicator. Because it compares the average price change of an advancing period with that of a declining period.
In my opinion it is a momentum indicator. Why do people say it’s lagging? Or have I got it wrong the whole time? The user-defined variable inputs including ascertaining the levels that represent the overbought and oversold conditions is what makes them leading. I suppose? @Craig plz correct me if I’m wrong anywhere
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Every oscillator can be used for momentum or mean reverting.
More data points to utilise objectively.
Are you using an indicator to set the stop/limit? If not, the stop/limit price(s) are arbitrarily selected by the trader and the equation breaks down. What is objective about the strategy?
I think most of the time indicators and PA are overhyped by some social media, scammer, or maybe a trader that has been very successful and says this is the only way to do things.
I think that we’re all wired a little different and view charts differently. So what works for me may or may not work for the next guy. I’ve been doing well with PA and S/R zones. I also did well with MACD and RSI combined with S/R zones. But I just enjoy trading with PA more so I have kicked over to that. But doesn’t mean it’s the one and only way.
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I don’t think they’re overhyped. A bit of research and playing around with the indicators is required from the traders side too. Ever tried indicator combinations to determine the risk tolerance? Best way to do so is backtesting and using historical data to evaluate how the indicators worked in the past. I do so on the MT4 platform with turnkeyforex. It’s quite good actually especially when you need authentic data on how the indicators performed when used in the strategy.
And if I’m to learn anything from my past mistakes, it is this: do not trade without TA. With my first broker fxpro I didn’t give much importance to this and my win loss ratio was highly skewed.
The indicators are objective when they ‘indicate’ change. There is zero discretion.
For example only…
Histogram has gone negative or positive.
Moving average has crossed or it hasn’t.
RSI is or isn’t divergent.
They are all objective conditions.
That is indeed the right way of looking at it, not one type can suit all and that is why perhaps there are so many indicators, tools available in the market. Ideal would have been if I was able to make my own.
But MACD and PSAR are both lagging indicators which means that your trade entries will be based on the lagging info. Especially when the price would have made a good move and sometimes at the spot where you enter, the price might just take a temporary u-turn.
Again, indicators are lagging by default. They plot using ‘historical’ data!
This cliché statement is rinsed by price action educators. Newer traders are never going to know the difference.
A Bloomberg terminal has indicators for a reason…pro’s use them.
Indicators are NOT used for trades per-se they are used to aid your probability that when you do enter a trade the price will hit your take profit before your stop