Use of Technical Indicators

Technical indicators are derived analysis to be used as guidance to take decision.
Technical indicators show past trend behaviour and it is a guide to forecast possible future trend.
There are many indicators suitable for various application and analysis.
Important Technical indicators are Moving Average, Moving Average Convergence and Divergence (MACD), Bollinger Bands, Relative Strength Index, Fibonacci retracement, etc.
Moving Average, RSI and Fibonacci are most widely used by Analysts.
Based on past data, Moving Average indicates possible further movement. This is suitable in Trending period.
While RSI is used during non-trending period, it indicates price movement at overbought and oversold zone predicting their reversal at nearby distance.
Fibonacci also derives its unique number series setting pattern based on mathematical formula. It also derives its own unique ratio (Golden Ratio) which can be applied not only on Technical chart, but also at various real-life applications.
In trending period, Fibonacci is very much useful to analyse the behaviour of prices and to identify the level suitable to trade.