I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you.
If you are using indicators for trading, which ones have you used that make a good trades for you?
Yes, I use indicators for trading, and they are not entirely useless.
Although many indicators would waste your time, especially if you do not know how to apply them rightly, relying on the simple principles of their operation. I know many of them that can give you over 75% winning, yet I see indicators as too simple and misleading because they respond directly based on the market price, which makes it unreliable for signal issuance in most cases.
I prefer custom indicators to the popular default ones, and if at all I use the default ones, I only use them for the overbought and oversold detections. I prefer the price action and the support/resistance strategies to spot my trading direction.
Yeah, indicators can help but people need to understand they are more like assistants not the main driver of your trade if you build your whole strategy on indicators without knowing how price really moves you will always end up second guessing yourself and chasing signals that fail.
The problem is a lot of beginners download every free indicator they see thinking more colors and more signals will make them profitable when in reality it just makes the chart messy and your head even more confused the best traders usually keep things simple one or two indicators max and combine them with clear price action. Price action tells you the story of the market it shows you who is in control buyers or sellers and where the next possible move might be indicators can then back up that story but they will never replace raw understanding of the market.
Another thing people ignore is risk management even with the best indicator setup you will lose sometimes and if you don’t have discipline with stop losses and lot sizes then one loss can wipe out all your wins being profitable is less about finding a magic indicator and more about managing your trades and emotions. So yeah, indicators have their place but they should never be the center of your strategy they are just a support tool the real edge comes from knowledge patience and discipline.