Of course, it works but depending on only technical tool is not a good decision at all; Forex is not such kind of simple job. In my trading I use EMA but that doesn’t mean, my trading is all about EMA.
Indicators are additional tools that can provide you more information, but they should not be the basis of the strategy.
For example, you can use different SMA`s and EMA`s for confirmation of several patterns.
I find them quite useful but again too generic. However you can always [URL deleted] install custom indicators to your Mt4 platform. MT4 remains one of the best platform therefore you cannot ignore their indicators
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