Most indicators like moving averages and oscillators calculate and analyze the difference between present bar and past bars based only on the value of the close price. However the analysis of price action and chart patterns requires the trader to calculate and analyze the difference between present bar and past bars based on all available information of the open, high, low and close price.
The bigger the timeframe, the more accurate the analysis and forecast.
What is the best accurate indicator for metatrader 4 ?
let's sharing here guys
My 10 cents:
My recommendation is you use: Price action + Strength/Momentum . Price action by itself is not enough. If you rely on it ONLY, good luck and "welcome to the world of false breakouts".
A price move will only be sustainable if there's STRENGTH to support it. Stochastics, CCI, and RSI are very good strength indicators.