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    Thread: Are custom indicators reliable? (part 3)

    1. #1
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      Default Are custom indicators reliable? (part 3)

      Original thread: Are custom indicators reliable?
      Are custom indicators reliable? (part 2)
      Are custom indicators reliable? (part 3)

      Quote Originally Posted by MisterTickle View Post
      i usually prefer indicators found in metatrader rather than getting third party indicators from the internet. there are many third party indicators out there for downloads. i have tried them such as the 1-2-3 patterning indicator, but i find it unreliable. is this just because i had a bad experience why i don't like custom indicators or are all custom indicators like this?
      in my opinion, all indicators have almost the same function, namely as a tool in making the analysis. so, even if you only use the default indicator of metatrader, you will still get a chance to get profit. because all the analysis depends on a trader, not from the indicator. I also always use the existing indicators in meta trader.
      Last edited by MT5 bozZdeviL; 01-10-2018 at 03:54 AM. Reason: Add Original threads
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      if you becktest your custom indicator i think it can be as good as any other indicator. let it give time and see the result, trade for minimum 6 month to see how it goes and then it can be good. i think we can use our own indicator but i think it takes time and experience to develop one our own.

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      Yes, I think so. in a forex, there are many indicators available on mt5 portal. most of the indicators are just for short term. custom indicators help you to see the direction but not truely mean that the market goes there for long term. so always be carefull before making a trade online.

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      In this Thread my answer is Yes and No in the same time, in the sense that if you know how to the use this indicators and you known how to link between them and extracted only what you need so I said to Yes you can depend your trading of indicators, but if you are the trader who just add indicators and you wait it that give you signals only it will not be helpful and on the contrary you will loss so fast.

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      Custom indicators or built-in indicators functions the same and they are not in anyway can predict price movement accurately, indicators reading are all possibilities based from previous data, but since market movement is random in nature so all of us still end up having losing trades, trading is the art of minimizing your loses and maximizing your winners.

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      its better to trade with no indicator at all because most indicators are not reliable even though many traders like to use them for finding trade able signals but i have understood the fact that they always generate a late signals which most of the time is not profitable for the forex market.

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      Not always like that, what is already in the default mt4 also been designed in such a way as to make the best possible benefit for him, so what's the difference with a custom indicator.
      All indicators have the same functionality that allows us to read the previous price, and to predict the price ahead, if the price issue will move where, it is up to the market and the indicator only display it.
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      I don't actually think custom indicators are reliable. The truth is that we are the one to customize it according to our own tastes. It's always their to be edited, but we must know what we are doing so they don't have negative results on our trading. So it's better to first use it on demo account first.

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