Sweeping statements like that are just ignorant.. traders use a variety of technical indicators to trade with but don't necessarily rely on them.. an indicator can highlight price action more clearly.. so while the indicator may be on your chart you are still trading off price action
\ You just contradicted your own statement. LOL. Don't Jump to the conclusion of ignorance if you don't know what your talking about. So I am to use an indicator, but not use it? Why would I use an Indicator but not rely on it? Yet you state one is using price. I have a moving average just for sheets and giglges but I am not using it? You have to come up with a better cop out than that. Please explain how MHS fell into that category today? It does'nt ! Try again! Ignorance???
No you were just too stupid to understand what highlighting a pattern means.. Let me talk to you like you are 5 years old.. If you used reading glasses would you concentrate on the lens or the writing in the book?
For those who want to pay attention, learn something, and maybe be giving a concept that they can explore further on their own dalailama has made an excellent point. Price Action moves in Cycles and while going through those alternating cycles (of supply & demand) there are Waves (that ebb and flow). Moving Averages can be used to determine the present past and future action of PRICE to an extraordinary degree when they are used to measure it. *** As far as details, that's a bogus request on a free bullentin board, if you want to, just take the concept and try actually working with it ... Good trading, Jimmy Jam P.S. To the OP, there are many software programs and services that do this. One is TradeStation, another is Trade Ideas, and if you look around on any of the automated trading boards, I am sure you can find quite a few more.
No, I disagree with the analogy. Its more like, if it takes 5 quarts to drive to a certain destination, then we can calculate how much quarts of oil is needed for a mile then extrapolate it into the rough requirement to another destination. But the key is, the road condition. Driving in a highway may require different fuel consumption as say, driving in the city. So too, with different market condition.