Suggest the best technical indicator that works majority of the time?
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There may be a hundreds of indicators, but I always believe price action is the king. Most of the institutional brokers trade based on price action.
Price action trading is also one of the simplest method to learn.
There are many courses available on YouTube and other platforms. You can learn the following to become a pro on price action trading. I personally follow Pivot Boss Youtube channel.
Note: Price action works better in Indices like Nifty and Bank Nifty.
Not all the traders follow all the indicators. If you master any one indicator with proper back-test, you will definitely get good results.
Few most used intraday indicators are
Best Indicator for Intraday Trading
The support and resistance levels are the most used and accurate indicators in intraday trading.
Support is a level where the price tends to stop falling below that level and might get reversal.
Resistance, on the other hand, is a level where the price stops rising and may fall back down.
These levels help traders decide when to buy (at support) or sell (at resistance) a stock.
Most of the day traders and swing traders use support and resistance to execute the trades.
Moving Average – The Best Technical Indicator
A moving average is a out line that shows the average price of a stock over a specific time.
MA-20 means the average price of the last 20 values
MA-200 means the average price of the last 200 values
It helps traders to observe the overall direction of the price. Trader can get a clear picture of whether it’s going up, down, or side ways.
Based on the moving average, trader can find out the direction of the stock and executes the trade.