Bcuz at any moment in time, your brain processes information about what its seeing( like on a trading screen) you have a certain part of the brain called the frontal temporal lobe(ever heard of it?) which at its own discretion can inject emotional/impulsive signals thru out your brain which may cloud your response to what you're seeing on the screen, thus potentially interfering with your intent to think purely mechanically when pondering a physical response( buy or sell or not trade at all). Indicators, when used properly, give you that " purely non emotional, purely mechanical second opinion" on what price is doing. I discussed trading and mechanical thinking processing with my brother in law for hours during Xmas, he is a renowned neurologist and head of neurology at U of Kansas City Medical Center.
ok, so say the trend is up, we have a MA crossover for longs and then another one for shorts.. does it mean the up trend is over? there IS no trend ... as plain as that , with stress on the verb 'IS' .. how about we put it like that - find a trend in the past /easy to spot on a chart/and play your indicator accordingly i woudn't...
I agree to some extent, but it's only a valid argument if one is reacting to price without any planning. I constantly model different scenarios in order to know what to do when price reaches a certain level. Sometimes the unexpected happens, and then I stay out.
Very few people care about your beliefs. People care only about that which you can proove. Do you have any proof? Most institutions look at indicators because they want to know how retail trades and kick their butt.
For me, most of the time, they are simply indicative of price action and can help you see that better. Are they predictive? Only to the extent that the current price action and trend are. And in a crazed news driven environment, don't become overly dependent on the technicals at all.
Indicators do work on the longer time frame , but you gotta know how to use them. This custom indicator is a multitime frame indicator using a combination of trend lines, price action ,price ,stochastics on 15 min,30 min ,1 hour and 4 hours. I can see everything on one indicator .It is pretty useful.When indicator is moving up I am long and when it is moving down I am short. These cost around $500 to code.
Once you identify the trend w/o the indicator why do you need the indicator? Forming candlesticks are my "indicators".
....................................... oilfx nice indy. no website for mqlpro.com where r these guyz........? pls advise. s