No matter what, trading relies on identifying patterns which repeats with enough consistency to allow one to make money trading these.
Realizing that it starts by the systematic analysis of past price action is a leap forward.
Don't get stopped by the nay-sayers, you won't know if that can work for you unless you try it.
I'll give you a big tip - everything works some of the time. Find where & when it works (positive edge), and more importantly where and when it really doesn't (negative edge, but flip it for another positive edge). The rest averages to zero, and must be avoided as it will only cost you comms + slippage in the long run.
Of course, you can ask on any forum until your face turns blue, no-one will give you any answer of direct value. So start writing your own code, and just to get started, use any indicator of your liking to create 2 opposite events (for example, a stochastics indicator, 1 event can be slow-sto crossing the 80% line downwards, the 2nd event being the symmetric - slow sto crossing the 20% line upwards)(another example would be, the breakout of the 1st Xmin range after the open - there, the 2nd event could be the session close). Task your software to save a bunch of datapoints each time one of these events fire (maximum positive & negative price excursion since last event being the very basic thing to look at, don't forget the date & time, and whatever else you get interest into). Once this is reliably saved in a file, in a format you can import in Excel, start analyzing that data. Use the pivot-table feature as much as possible. Find how you can bucket events as "positive" edge, "negative" edge, don't know.
It is possible that using simple indicators doesn't give you much, but I can guarantee you that by refining the events just a little, you'll get to see things most don't. And as you refine the events even more, making them more "meaningful" in market terms (who cares about a stoch crossover, really), it will be Christmas all year long.
amazing!
