Technical analysis like the use of indicators goes a long way in alerting traders about a new signal in the market.

Indicator help a lot in identifying signs such as support and resistance, breakouts, reversal trend and a lot.

Technical analysis like the use of indicators goes a long way in alerting traders about a new signal in the market.

These levels play important role in trend identification, it determines either the market with continue or take a reversal trend.

My favourite indicator is the SuperTrend indicator.

I have used this indicator once in an assignment of one of the professors. My favorite indicator is the Ichimoku cloud which help spot a lot of market signals.

Great write up buddy and good luck.