95% of these indicators do not work.
Learn candlesticks,price action and chart patterns
I certainly agree with your comments regards most indicators. Divergence plays can be harmless if they're observed correctly in tandem with the near-term flows, but most of them can be deposited in the trash without a second glance.
If more folks paid due attention to the prev area's & zones on the grid where minor & major battles ensued (s&r) instead of attempting to pick tops & bottoms and/or chasing the coat tails of an (intraday) aggressive run, they'd maybe afford themselves better odds of survival.
It isn't exactly rocket science to sit back & run a cross-hair along a 240 or 60m grid for 5 or 10 minutes. Transfer that info down onto the micro timeframe of your choice (if that's your poison) & wait till the action hots up around it.
I mentioned a couple levels earlier in the week on the Cable which were due a little activity: 2.0100, 2.0220 up to today's hot zone @ 2.0350 where the brunt of the London rush hour is focused.
Those levels were highly visible, easily located & not too difficult to unearth, from as far back as Dec 07 (plotting forward).
Given that these kind of levels hide a good chunk of stop activity (which drives these babies), it's not particularly mentally taxing to wrap a set-up or two around levels & zones which are likely to involve increased (volumes) activity....either as entry, pare off's or exit camps.
Makes life a little easier to maybe run one or two of your positions whilst maybe reducing transaction costs & top line expenditure.
I dunno, just a suggestion or two
