Is It Advisable to Load Your Chart With Several Indicators for Entry and Exit Confirmation?
As for me, I like my chart to be simple and clean, devoid of many indicators. Most indicators are lagging and having them on my chart complicates matter for me. What’s your view?
I think this is a personal choice but some indicators are beneficial and I know from my reading that a lot of indicators are called lag indicators that is they are constantly telling you what has happened. I know there are some traders that like to have blank charts ie only have candles on their chart and this is how they trade. From reading Vahid’s articles he only has candles and Bollinger Bands on his charts.
I have his articles re the Bollinger Bands and I will be studying these and understanding the rules behind them and then hopefully I can ask Vahid questions if I have any.
Thanks Edward for your contribution to the topic. Indeed it is a personal choice
its not good to use many indicators ,you suffer from a disease called analysis paralysis, you better use price action candlesticks and one trend indicator,one volume indicator
Too many indicators on charts confuse me. I end up seeing things that are not there on the charts. But I suppose some people can analyze a fully populated chart better, a matter of preference I presume.
Is not advisable to load your chart with several Forex Indicators for exist and entry confirmation.
Technically no, if you know what you are doing you can simply follow price action. Learn the patterns and trends, mark key turning points in the market and then trade.
Indicators are only useful if you follow a strategy that utilises them in the right way
I think this a problem of choice and how someone can analyses the the market movement. Some people like to use lot of indicators and some people focus only on what candlesticks are telling them. It only depend on your capacity to analyze the market. As Vahid says if you Master very well candlestick language and understand what they are telling you you will not use lot of indicators because candlesticks are Te real time indicators.
If it suits your personality and helps you take a clear and accurate trading decision, then no one can advise you against using those indicators. The point is, you should know yourself. You should be able to make an accurate trading decisions. If it required a lot of indicators on your screen, then use them. If you prefer a clean screen then use it too. You are the only advisor you will ever need in the trading environtment.
I think it not advisable to load your Chart with lot of indicators if you really Master candlestick language and the market sentiment. In fact using lot of indicators can mislead you
Spot on jeankomaro
Many indicators is not advisable on the chart. One is good enough to understand the direction of the market in addition to your past experience and knowledge
Certainly 1 is more than enough to get consistent results. The more you add the more variables you add
Use 1 indicator and don’t get involved in confussion. Using many can result in confussion and loss
Yes one indicators is enough,more indicators Will lead you in confusion.
YOUR ANSWERS HAVE BEEN HELPFUL. INDEED LOADING THE CHART WITH MANY INDICATORS CAN BE LIKENED TO CARRYING HEAVY LOADS.
If you Master candlestick language and patterns, it not even necessary to load charts with indicators. Candlesticks are the real time indicators and tell you enough about the market sentiment.
Hi Leon, you are spot on. Keeping the chart clean is key to successful trading.
Yes Naked Charts – the candlesticks tell the story. Learn how to read them and it all because straight forward. Your consistency will go up and then you win rate.
If you want to perform a good analyses of the charts,and get a good result don’t load your Chart with lot of indicators,otherwise you will confuse youself and make bad decisions. One indicator if good enough if you know how to use it properly.
Keep the charts clean – you’re are less likely to confuse yourself that way.