Perhaps, but I have yet to hear or learn of any indicator based system that is profitable long term through all types of markets. Furthermore, automatic black/gray box type methods basically churn out very modest returns, sometimes just a few dollars per trade, usually have long periods of massive drawdown, and then eventially fail to work altogether in time.
The issue I am bringing forth, and I went through much of the same scenario, is that most, if not all, retail traders begin by reading books based on indicators. They then get a charting package and begin trying to develop a trading style based on indicators. When one indicator fails to provide consistant profits, they add another indicator, until they have numerous conflicting squiggly lines stacked twenty deep, and still, no profitability. Then they delve into the world of optimization, and lo and behold, they see a tiny profit. That is, until market conditions change, and then they are right back to square one.
In summary, the only indicator that is consistent day in and day out in all types of markets is price. That's not to say that an indicator can't be used in a minor role to support price, but in my humble opinion, price should be the only factor in regard to the setups of entries and exits. This conclusion comes after years of trial and error and many tens of thousands of dollars in "tuition." No offense intended for those who believe otherwise, key word being "believe." Logic and statistical evidence does not support the use of indicators as trade setups, optimized or not.
Flail away!!
st