One for trend direction
It doesn't matter if you use Donchian channels or a moving average channel or bollinger bands or Keltner channels or simple price action with trendlines to determine the direction. The key here is to achieve consistency so that you are able to tell a downtrend, an uptrend and a ranging market apart from one another with enough accuracy to make you money. To achieve consistency you need to have clear rules; indicators, as they are based on math, are the most straight-forward way to do this. Bear in mind that I didn't say this is going to be easy. Using an indicator profitably is a challenge as proven by the hordes of members here that absolutely hate indicators and ridicule other traders who use them. You need to have a look at the math behind them to determine how exactly they work and then draw your own conclusions on how to best use them. The other option is to teach yourself how to use a naked chart, which is not a picnic either. Whatever method you choose, remember that this is about making money not bragging to your online friends how your method of analyzing the market is so much better than someone else's. Stick to what works for you, it's your money.
Another one for momentum
Something to tell you whether the market is heading in the direction it's heading in a quiet or strong manner and whether the tide is beginning to turn (ie. divergence).
One more thing. While perfection is what we all aim for, you should really forget about 100% accuracy. There's no such thing. No combination of indicators or price action or patterns will guarantee success on every trade.
It doesn't matter if you use Donchian channels or a moving average channel or bollinger bands or Keltner channels or simple price action with trendlines to determine the direction. The key here is to achieve consistency so that you are able to tell a downtrend, an uptrend and a ranging market apart from one another with enough accuracy to make you money. To achieve consistency you need to have clear rules; indicators, as they are based on math, are the most straight-forward way to do this. Bear in mind that I didn't say this is going to be easy. Using an indicator profitably is a challenge as proven by the hordes of members here that absolutely hate indicators and ridicule other traders who use them. You need to have a look at the math behind them to determine how exactly they work and then draw your own conclusions on how to best use them. The other option is to teach yourself how to use a naked chart, which is not a picnic either. Whatever method you choose, remember that this is about making money not bragging to your online friends how your method of analyzing the market is so much better than someone else's. Stick to what works for you, it's your money.
Another one for momentum
Something to tell you whether the market is heading in the direction it's heading in a quiet or strong manner and whether the tide is beginning to turn (ie. divergence).
One more thing. While perfection is what we all aim for, you should really forget about 100% accuracy. There's no such thing. No combination of indicators or price action or patterns will guarantee success on every trade.
If you don't risk, you don't ever have to lose.
