There is a universe of technical analysis tools out there, with strongly committed adherents to every one. Just as each of us has our own risk profile and preferred trading vehicles, there are technical analysis indicators that better suit certain styles more than others. At its most basic, technical analysis can be just a chart review of a few simple moving averages and volume. More complex approaches can use a combination of indicators (stochastics, MACD, etc.) that have been optimized for individual markets with specialized formulae for triggering a buy or sell alert. We tend to feel more comfortable with tools we understand than taking a "black box" approach, so it is wise to start your technical analysis education with indicators that you can easily become familiar and comfortable with.
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