Would your choice change depending on the asset class or trading strategy?
Well, you can way better understand price action if you place no indicator, no lines to the chart.
Although my fav indicators are RSI, MACD, EMA and FIBONACCI. EMA works best in trends.
If I had to select only one, that will be FIBONACCI. This indicator is something special, like different ball game altogether, Fibonacci works well.
+1 @Himanshu_Rai. fibonacci it is. if you know how to use it, all you need is this tool along with a stock in a sector with momentum, some patience, and the skill to average. with these, one can make a lot of money.
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fibonacci is probably worthless. That’s one thing i will never ever use.
If you get an edge using that, mostly likely the edge is somewhere else ( ex pullbacks / expansions etc) and that the number/series itself has no special meaning.
Generally I like to understand the root of any edge, the simplest form and don’t use pointless things like Fibs.
https://adamhgrimes.com/tag/fibonacci/
Different asset classes and timeframes can behave differently, so we will need to adapt accordingly. And we can have different types of systems in any single asset class and timeframe ( ex momentum and mean reversion, growth and value etc), so different things can be useful.
oh @pau, let me add a little more to what i suggested above. probably one of my first few posts in this forum: Fibonachi, an underrated indicator
do you research and all the best!