No indicators needed, just knowledge....
To make my point....
Can an indicator tell you that the AUD is strong today following the fact that RBA kept rates on hold when the markets expected a cut...?
and that the USD is weak because last weeks poor data and bad NFP figures have now caused the market to expect the FED to keep rates on hold a lot longer than expected, and that therefore the AUDUSD is a great pair to scalp up?
Fundamentals are what drives the market - use those as your indicator and the pips will flow.....
Trading without a basic fundamental outlook is basically gambling on chance - ie hoping that a pattern will win more than it loses, but trading based on fundamentals.... thats investing... you just need a technical way to consistently enter the markets based on the background fundamentals.... this is something EAs and Indicators cant provide.
Sorry Ben I disagree, for me Fundamental analysis is still very speculative, different traders have different opinions on where they think the market should head on the back of a new release, that might or might not influence the longer term trend or just cause that temporary correction.
There are many ways to trade, I don't use fundamentals and wont be!
Your basically stating that I'm a 'gambler' which isn't the case when I have an edge, have consistent results and am profitable.
I've studied hard, tested for hundreds if not thousands of hours, and open my positions at 10 cents for every thousand dollars in the account.
I look at the charts and use a couple of indis as a quick reference when jumping from one to the next, that way, I can get through all 28 pairs in five minutes, I do this up to three times a day. Most of my decisions are based on the momentum from the size of the recent candles on that chart and surrounding time frames, not candle stick patterns as commonly taught or any particular pattern, just look for clear trend direction and the recent larger candles to be in that direction, I don't try and get the best entry, I am just patient enough to wait for price to put me in profit, and it does more often than not. Personally I believe its more about understanding how to trade through experience, manage positions and money and has little to do with the tools used.
Don't listen to and follow the BS online.