Which is your favourite indicator and why ?

Agreed. It was one of the few books that help me advance to the next step of the many steps in a trading system. I know many disagree but I think Alexander Elder and Van Tharpe both shortened my learning curve tremendously.
 
OHLC and volume bars are my favourite indicators because it's real-time.
 
I found Alexander Elder books a fun read but I would not trade that way and I used Tharpe's "binder" to keep my door pryed up for years as it had a lean to it and cat couldn't get in, when I decide to get door fixed, I literally burned the manually in fireplace. I have zero good thoughts of books dealing with how to think as it doesn't get to my subconscious, I use hypnosis, I have burned several books through the years, can't see in giving anything away when I don't agree with them.

I prefer lagging indicators, false moves are much less for me. Different timeframes I use different indicators, Monthly-no indicators/weekly/daily MACD for longer term, intraday Bollingers, SMA's, far less than when I first bought home PC, but I spent 8 years before this doing hand charting so read charts well, I already knew how to do. I allow indicators to indicate, but I use price itself or volume to show me when you either disallow or take a signal and management of the trade. All my signals are given green/red lite if price has agreement with total picture. I have found time to be my "edge" or best indicator, do enough back tests based on time, I discovered best trades don't linger where I got in, they take off and never look back. If too much time given, most would become losers.
 
I use indicators but only to notice when a textbook signal is failing, as this leads to stops and market exits, which is easy to profit from. Anything else with them is amateur trading.
 
I don't really use indicators, per se -- but rather a host of other variables and intuition, o_O:)
This answer can vary greatly depending on the person, what they trade, and etc etc details.
 
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