If you are randomly choosing indicators for technical analysis, chances are you’ll pick some with similar studies. How to avoid this? First of all traders should know
what type of indicator they use. There are general categories of
- Trend indicators
- Volume indicators
- Momentum indicators
- Volatility indicators
- Cycle indicators
These simple rules of choosing the best set of indicators are used by
experienced Forex traders for quality market research and trading.
Traders should avoid using too many indicators from the same category. There is also a simple method of identifying similar indicators. By setting up chosen indicators on a chart, you will be able to basically see a similar pattern of indicators behavior. If they rise and fall in almost similar intervals,
they are most likely identical in the type of data they provide.
Please with the list indicators category which is the best of the best combination of for trading?
can you screenshot a picture to depict your examples. and if you can explain in details also.