Originally Posted by ellict

Hi all,

Found when browsing, an indicator usefullness ranking on forex trading:
- simple moving average: 5
- exponential moving average: 6 (out of the box), 9 (when properly modified) (me: dunno, don't ask me)
- bollinger band: 4
- parabolic sar: 6
- rate of change: 6
- RSI: 4
comment: (not from me)
this indicator does not adapt quickly enough in fast moving markets, resulting in several false signals.
- stochastic: 3
comment: (also not from me)
this is one of the most overused indicators, along with MACD.
Both are good for looking at long periods of time, and excellent for selling useless software because they clearly show “strong” buy and sell signals. The problem is those signals are all viewed in retrospect.
- momentum: 2
- MACD: 2
Comment: nearly all new traders use some sort of MACD/oscillator
combination. The fact that only about 3% of new traders are successful after their first year tells the story of how useful this indicator is. The crossovers are too difficult to call, there are simply too many false signal.
Comment: (this time from me), ahh ... I use MACD a lot
- ADX: 2
- William %R: 2

Be carefull using indicator, any comment?

cheers,
ellict