Ever Changed Your Mind About an Indicator?

[maya95]

Was there ever an indicator you thought was totally useless, but later it actually grew on you? What made you change your mind?

 

[Mr.River]

actually the exact opposite happened, I used MACD and RSI latter I realized I am not increasing my winning ratio but just reducing the number of trades that I make!

 

[Zerologic]

I was once interested in Ichimoku, which is said to be the most complete indicator, but over time, I felt that this indicator was useless because of its high level of complexity and the need for extra patience.

 

[rmufti68]

These indicators are only provides lagging information about the markets and hence can not be depended for market's future performance yet you may use them on your charts to get confused. That was my change of mind about the indicators.

 

[CrispyHumanoid1]

honestly, RSI. at first I was like, “cool, another squiggly line doing nothing.” but then I started actually watching how it behaved near support/resistance and during consolidations, and suddenly it was like—whoa, this thing’s trying to talk to me. turns out it wasn’t useless, I just didn’t speak its language yet.

 

[Mr.River]

These indicators are only provides lagging information about the markets and hence can not be depended for market's future performance yet you may use them on your charts to get confused. That was my change of mind about the indicators.

Not all the indicators are lagging; some are even leading but currently I believe none of them are even useful

 

[Amadeus.V]

Yes, actually. I used to rely on the RSI in the conventional way, using the 20 and 80 levels to identify overbought or oversold conditions and take trades based on that. It didn’t work well for me at all. Nowadays, I use RSI primarily for divergence, but in a way that follows my own setup, not the typical textbook divergence. Since making that shift, my results have improved significantly.

 

[Zerologic]

These indicators are only provides lagging information about the markets and hence can not be depended for market's future performance yet you may use them on your charts to get confused. That was my change of mind about the indicators.

Price action and candlestick patterns are quicker to give trading signals than indicators, as almost all indicators take data histories of the prices. However, I still like to use indicators such as Bollinger band and RSI as a help tool.