DislikedI wish indicators were the answer to profitable trading. If they were everybody would be racking up pips. Sadly indicators only indicate the past and they do not predict the future. No matter how fancy your codes. In a strongly trending market you will do ok but in a ranging market you will suffer losses. Learn the market. Forget the indicators.Ignored
to a large extent i agree with you. and i am learning the market. i just wrote a comment along very similar lines in another thread.
however, i think that there are instances where technical analysis can do a reasonably good job. one important area are statistically rare events. it is possible to identify very rare events and with a large probability bet that the situation will be resolved.
an example with an improved bollinger band indicator is, to look at the times in the uptrend where the price spikes down below a lower band. one can do some analysis to tune the bands width for a precise entry. then one can bet with a large degree of certainty that this is just a spike and not a trend change.
it is of course simpler when you approximately know what you're doing and can piggyback on the big players: set up an alarm when eurchf drups to/ below 1.2 (note that this is also a rare event) and enjoy your free money.
best wishes
k