A post was merged into an existing topic: What is your favourite indicator and why?
It’s upon traders comfort level. All Indicators are good but I consider Moving averages combined with stochastic as consistently good indicators.
EMA with MACD.
The only real indicator is Price, all others are chances and probabilities.
It depends on your level of understanding market data. So different people have different favourites.
Indicators are nothing but simplified interpretation of market data coming to you. You cant make out hidden meanings in price/volume information just by looking at it, so indicators are needed.
I trade based on my own custom indicators. All these indicators like RSI/STOCH/MACD are sub par for me. But for a person who trains himself based on these indicators(I call it interpretations) they still can earn decent profit.
Vwma is also good indicator … check this
all r lagging indicators, so none is the correct answer
Heiken Ashi candles
Best is highly relative and it varies from person to person. Initially I also started with Technical Indicators and learn lot about them from books and internet. But over a time I realised that indicators wasn’t working for me as they suppose to work and bring money home (Highly Debatable Statement).
After some more time I settled with these three things and it’s working great for me.
- Candlestick patterns
- Price action