Years ago when I first got started with trading I did what everyone does which is experiment with lots of indicators, sometimes they give what appear to be good signals, most of the time they’re not really anything to write home about.
I think I may have found a use for them, by using an overbought/oversold indicator (in my case I’ve tried the CCI aka Commodity Channel Index) on the volatile pair of my trades it appears (in my ever so brief testing) that it provides a nice filter to tell me when to get in and out of my trades. This is of course in combination with my trading strategy indicator which gives me overbought/oversold signals in relation to other currencies.
Some good news is that I’m slowly climbing the ladder in the Automated Trading Championship. at present I’m in 52nd position with balance of $18k.