Quote from: cryptician12 on November 27, 2017, 11:45:17 PM

I personally don't use any indicators except for moving averages. Everything else just clutters the screen and distracts you from the basics.

Try doing a google image search for prop trading and look at what the pros have on their screens. Surprisingly, you will find that pros don't really look at charts, and if they do happen to have a chart, its the most basic chart without any indicators whatsoever. Instead, most of their focus is on analyzing volume, level 2 quotes (the order book) and Time and Sales data. These are the basics from which they can identify strong support and resistance levels. Everything else is just white noise, and I have yet to see a pro trader using ichimoku

In my opinion you are right that Ichimoku is useless and has no predictive power anymore. Nowadays the prop traders don't use old fashioned TA anymore because they squeezed the juice out of it long time ago. Sorry OP, but Technical Analysis is dead. If you happen to make money using TA, it's just luck.

In order to survive they switched to complex quantitative'ish tools. The new proprietary tools that they develop are borrowed from digital signal processing(Wavelet/Fourier), heavy stats/stochastic, machine learning and other goodies.