We have a LWMA(200)Close on the main chart.
In the subwindow we have a RSIOMA(18,Close,LWMA,18,LWMA) - provided by TicTak.
Do these indicators work?
Or should we rather ask if we can build a profitable strategy based on those indicators?
You see, based only on the RSIOMA we could have some losing trades and some winning trades.
Now, look at this:
What does this show us?
It shows that even at 45% win rate and 5% break even trades we can still make a good profit.
Now, let's look at another part of the GBPUSD chart:
Here that indicators don't work - that's what you would say, right?
Why would you say this?
Maybe, because You want to win 10 times in the row?
Maybe, because you want the indicators to be 99% right?
It's not about the indicators!
It's about your Ego and the emotions you have about trading and losing trades...
Play around with the simulator:
https://www.forexsignals.com/monte-c...ation#use-tool
Try out different configurations!
You will discover amazing truths about reality!
Like, that you can lose 60% of your trades, and as long as your RR is 5, you can't lose!!!
Even in the worst scenario you end up almost the same as in the most possible scenario.
The truth:
How many people can take 14 losses in the row and still believe that their strategy is good?
If you're looking for the Holy Grail indicator - STOP!