The very most important indicator in both entry and exit is VOLUME.. you need to have volume confirmation as foundation of your trades.. Volume in its purest form and not OBV or any other derivative as they slow down the whole trading process> Most indicators specially trend following ones such as ADX or EMA cross overs are for amateurs and only signal when the fun has finished.. In fact if you take a opposite view once they signal you have far better chance of winning the trade.
Prices can be manipulated easily without volume but with Volume this is near to impossible..
I have used all kind of Advanced indicators ( Ehler, Mesa , .. ) and also some so called proven ( $5000
DUAL TRUST ) Trading strategies with no or little success..
Traded ABGX , CMVT and YHOO today only based on Volume and made £1238.48
with no reference to any indicator whatsoever ( see the attachment)..
To make best use of price action and volume you need to watch the price behavior and a leading Index and after a few weeks you get there..
PS:- instead of looking for Expensive , magical , indicators try to learn about Risk analysis.. Trading is risky business and the more you know the better trader you become..
PS:-- if you own TS and fancy having a go at some of these advanced, fancy indicators lemme know..