What is the ADX indicator and should you use it. I say no. Today’s video explains why and teaches you my general philosophy on technical indicators.
Notes
Indicators originate in the redundant department of redundancy.
Learn to read price action, you’ll find most indicators very redundant. Unnecessary.
- Does it tell me anything I didn’t already know? If not, I don’t need it.
- The better you get at reading trends, momentum, candlesticks, support & resistance (price action), the less you learn from indicators. Because YOU ALREADY KNEW THAT!
Hierarchy of Charting
- Trend: Pivot formations & Momentum
- Support & resistance
- Volume
- Moving Averages
- Candlesticks
- Any other indicator
Search for certainty.
5 things say bullish. 6th to say bullish 7th to say bullish 8th thing to say bullish.
Law of diminishing returns.
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One Reply to “Tales of a Technician: What is the ADX Indicator?”
No the joke is, when they answer the phone they say “Department of Redundancy Department, how may I direct your call?” — and it works best if you plug your nose when talking. 🙂
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