"a little harsh
indicators can be useful, but the trick is to use them for their correct purpose and to fully understand what an indicator is telling you.
take for example, a strategy that sells when the closing bar is the highest close price of the last 20 bars - nothing to do with indicators eh! just manually count the bars and see what is what..... or maybe we should use the stochastic because that is exactly what it does, it tells you current price relative to the last X prices - what it does not do is give you over sold / over bought as many might claim - now you know what that one does and this is what I mean about understanding what an indicator does.
don't make trade entries based on indicators.... make trade entries based on a system and use indicators to support that system for confirmation if you want to.
personally I very rarely use indicators, but I do use algorithms and I am sure that if I plotted the value of my algos every bar it could be called an indicator"
indicators can be useful, but the trick is to use them for their correct purpose and to fully understand what an indicator is telling you.
take for example, a strategy that sells when the closing bar is the highest close price of the last 20 bars - nothing to do with indicators eh! just manually count the bars and see what is what..... or maybe we should use the stochastic because that is exactly what it does, it tells you current price relative to the last X prices - what it does not do is give you over sold / over bought as many might claim - now you know what that one does and this is what I mean about understanding what an indicator does.
don't make trade entries based on indicators.... make trade entries based on a system and use indicators to support that system for confirmation if you want to.
personally I very rarely use indicators, but I do use algorithms and I am sure that if I plotted the value of my algos every bar it could be called an indicator"
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