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Technical indicators are tools for technical analysis, that are based on the price and the volume of the market. In this section we will cover signal, generated by indicators, that traders look for.
Using technical indicators, you must have one thing in mind. You need to know, which indicator to use. You don’t have to use trend following indicators, when market is oscillating (ranging), and vice versa. If market is in strong direction, you don’t need to use Stochastic oscillator. IF market is ranging ADX or MA wouldn’t help you much. There are indicators that you can use in both cases – ranging and trending market.
After this precaution take in mind if you trade strategies with one indicator, you must analyze multiple time frame to be sure. If you take a moment and look for matching signal on 2 or 3 time frame, you’ll noticed, that your results will improve dramatically. In this section we’ll cover strategies with: