There are three parameters that describe a trend in technical analysis - price (change in price), volume (traded during this price change) and volatility of movement during this change in price. I would recommend to focus on the analysis of these parameters, only then you will have a complete picture of a trend and will be able to assume possible trend development.
Try to get deeper into understand what change in volume mean, what is behind big volume surges and how they are associated with price movement. At the same time try to get into understanding of volatility, what is behind high volatility, and how increase/drop in volatility could be explained.
From the above you may see that best suggestion would be having a set of indicators (not one) which would cover price, volume and volatility analysis. Keep in mind that there are indicators that analyse price and volatility, price and volume and etc.
Which indicators to use, may depend on time-frame you are planing to trade. I would recommend visiting
http://www.marketvolume.com/stockstradin...
and do some search. As an example, you may enter into the search SPY and select daily time-frame (1 bar = 1 day) and you will see the scan results for the most popular technical indicators for SPY on the daily chart. Just sort by performance and you will see which indicators work. You will see that for SPY on daily charts following indicators generated the best results in the past:
Ultimate Oscillator
V-MACD (Volatility Adjusted MACD)
RMI (Relative Momentum Index)
ATR (Average True Range)
Awesome Oscillator
RVI (Relative Volatility Index)
MFI (Money Flow Index)
and etc.
Respectfully for my example (SPY on daily charts) you may select from the list above a set of indicators which would cover, price, volatility and volume analysis and go from there.
You never trade on one indicator. If you get an understanding of MacD, Stochastic, and Moving averages. You will find good entry and exit points. Youtube each one, and you will know how to use them.
There are hundreds of technical indicators. I do not want to spend a lot of time learning all of them just to find out that most of the repeat each other and some of them do not work at all. I would appreciate a hint on where to start and what to focus in technical analysis.
