Originally Posted by TheRumpledOne

"IT'S NOT THE TOOL, IT'S HOW YOU USE IT!"

The debate over indicators is entertaining.

Traders forget that price is the INPUT to indicators and NOT the output.

Price does not care what the indicators say it should do.

Indicators show what the price did.

That's why I like to use HORIZONTAL LINES and trade when the prices touches/crosses the line.

It really doesn't matter where you place the line because either price penetrates or bounces. Whether it's open price, close price, support/resistance, fibs or Murray Math, it's still a horizontal line that doesn't move. IT IS THAT SIMPLE!

I like to use "gauges" rather than indicators because I want to know what is happening NOW, because one trades in the moment, not the past. My gauges tell me real time statistics so I know if price is pushing the limit. Also, it is quicker to interpret my gauges than it is indicators on charts. One look and I know what price is doing on 8 time frames. Beats looking at 8 charts with all of those SQUIGGLY LINES.

Yes, gauges can be considered indicators - there are similarities. But it is the differences that make all the difference.

The other thing about indicators is how many occupy space on the chart.

Some traders have so many indicators that you can't see the price!

It is better to learn and master how to use ONE INDICATOR. "BEWARE THE MAN WITH ONE GUN... HE PRACTICES WITH IT!"

I know that may sound funny coming from the guy who has coded hundreds of indicators. But just because I code them, it doesn't mean I use them.

My trading screen is simple. It has a few horizontal lines and a couple of my DIGITAL COMPASSES/GAUGES.. That's all I need. But others like different indicators so I code them because I can. It's how I learn new techniques - I can't code what I don't understand.