Indicators simply use this data and display it differently by setting certain variables in relation to others or previous data. Today more than 150 indicators are available. Even indicators of indicators are also available. However, what ever may be the number of indicator you must remember that these indicators are mainly based on five variables. They are The Open, High, Low, Close and Volume of certain period.
Moving averages displaying the relationship between a series of closing prices over a period of time and Williams %R displaying High and Low to the close, are the examples of the indicators. It says that most indicators are just “skewing” the data contained in the bar or candlestick chart which display the “purest” form of data: The Open, High, Low and their close relationship to each other. I personally use a simply bar chart with volume information.
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