I am pretty sure I am not alone, but there are quite many technical analysis out there and its a bit to much. Honestly unless someone had a proven track record with a new analysis that it worked flawlessly I dont even see a reason to install more.
I just grabbed the 1000 package and its not even fun anymore. To much analysis is waaay out of line. So what do you guys do to control this? Any analysis better than other? Or a selection of well planned analysis that fails less than avarage?
You are pretty right about getting 'drown' while using too many indicators... especially new trendy and flashy ones. Infact using many indicators in a system will simply play the opposite of the role an indicator should play... intead of decreasing confusion while trading, it will just create much more confusing and also get you late in the market most of the time. The max indicator i consider optimal on a chart is 2 plus a few EMAs for trend determination. Stick to the old and wise indicators like the MACD, Stochs,RSI,Bollinger etc... the new ones, with lots of colors etc are just indicator of indicators... therefore, they work further from the price action.. hence more lagging...Regards
Try out the Tom Demark one, apparently its original and should work well. Question is though, do you have any that you do well with?
This my template at my terminal for your example first study at demo account ..
1M/5M- custom indicator : 1- super_signals_V2_Alert
15M/30M- custom indicator : 1- super_signals_V2_Alert
1H - custom indicator : 1-###Signal_Bars_V2
Daily - custom indicator : 1-BBands_stop_v1_with_alert
ok and happy trading....go! go! go! frofit...
The problem with indicators is that they dont actually do anything but base the trend on historical value.
hi hope it will help