Quote from: Mahanton on May 07, 2022, 08:51:37 PM

Quote from: wxa7115 on May 07, 2022, 04:50:21 PM

Quote from: Zilon on April 30, 2022, 06:26:19 AM

To get the best out of any analysis confluence between multiple tools is best because it gives a clear picture of where to possibly set take profit and set a stop loss in case of reversals. For me i Iove support and resistance and so I combine trend lines, moving average, time frame and indicative candle stick making sure my chart is as neat as possible and any signal outside this i avoid it. This keeps my trading discipline in check.

What are your own it can be beneficial to someone else.

What you are describing is a trading strategy, you could use a single indicator or even no indicators to trade the market and still earn money, however by combining different indicators then you can more easily see several aspects of the market with more clarity and improve your winning rate.

However you need to be careful as adding too many indicators is a also a mistake which can end up hiding some important information or bring confusion to the trader as they receive contradictory signals.

Doesnt really matter on how many indicators you've been using as long you could able to read it out then thats what do really counts or even naked trading or having single indicator would do but of course it would
be depending on how good or knowledgeable you are but its really that hard to make out conclusions or setting up positions on just having single indicator since you would still need lots of information or
confirmation or signals which would justify your decision whether you would sell or buy.So its hard to to make decisions without proper analysis made via these indicators.
So its really important to have this one.

I really think that using too many indicators hinder your ability to trade instead of helping it, a very easy exercise to see this is true is to try to add 20 indicators on a chart and see if you can actually make any conclusion with all of that information.

Another reason is that while many indicators may seem similar they are calculated in a different manner so they will give you contradictory signals and as such it will make your trading harder than if you traded with just a few indicators or none at all.