Beginners guide to techninal indicators?

[nightracer]

Hi there, I'm just starting to look into the use of technical indicators, but am completley bewildered by the number of them out there and what they all do!!

Does anyone know of anywhere that does a summary of what each one does and how to read them?

My apologies if this is a beginners question!

Any help greatly appreciated.

rsi
macd
stochastics
directional move
rate of change
commod channel
williams %R
candlestick pattern
bollinger bands
general overview
px fibonacci
parabolic symbols
mov avge envelope
trading envelopes
money flow
moving avge
px oscillator
percent px graph
pivot graph
on bal volume
mcclellan osc
hurst exponent
point & figure...and I'm sure many others!

 

[wasp]

you missed one... price!

 

[Crap Buddist]

100+ Technical Indicators - CMS Forex

heres a start.

 

[rathcoole_exile]

Technical Analysis of the Financial Markets by John Murphy is regarded as the "bible" of TA
ISBN # 0-7352-0066-1
It runs to something a little over 530 pages.
Read it, digest it, understand all about TA indicators.

Then discard it when you realise PA is all you need

 

[Hotch]

Something I've been thinking about, which i think can be added on here.

Which markets are least effected by things which we cannot collect data for.

Obviously the price of gold can be taken into account, but there are some (generally one offs) which cannot. For my system atleast, it's more about how often these influences take effect as opposed to what degree (would prefer outside influences to occasionally have huge changes, as opposed to continually having an effect).

Thoughts?

P.S. Obviously you can get past some of these (released results, intrest rate changes etc) by not trading around that time.

 

[Victor90]

How about Volume? =)