It's very simple, each color represents something different (there are only three up on the chart), you are both totally right you don't need any indicators, BUT the traders that are on Paternoster Square, and 2-1 Nihombashi, probaly have indicators, or they would lose they're jobs, and every propfessional trader that I know (as in I can go to their houses, not heard of), uses indicators also, when I mean pro, I mean people that their only source of income is trading........................so we kinda want to mirror those guy that use $1000.00 pips right? besides I get my info from the streetz!!! but the most important thing in trading are not even on the charts, it's called money management/risk management, if you can't master those two tactics and have them written down and follow them in every trade you will always fail in the long run, and that is something that I have not seen alot on this site.......managing your denero is the most important substance in trading, thats why you have people that have alot of drawdowns.....Shankar make sure everytime you click, you have a stop/loss and take profit in place always, think about it, some people think if you have a s/l and t/p in place on your orders that the trade may go against them to fast or that they dont want to loss that trade....then maby you shouldn't place that one, you should only press that mouse if you are confident that you won't loss and if you do, that you already know where and how much you are going to loss, does anyone have a trading plan in place written down?
Early Birds get the worms!!!