Answers :There are books with hundreds of pages dedicated to your question. A few lines here won't be helpful.
But.....
The value of indicators is the same in any time frame. Looking to multiple time frames for any trades is always great way to trade. I trade on the 5 minute chart but look at the 15 minute, 4 hour and daily charts.
As far as "reliable" indicators. It depends on your definition of reliable. If I get 40%-50% of my intra-day trades correct.... I'm happy. What most new traders don't grasp is the importance of trading money management skills (risk control). Technical Analysis is less than 50% of what makes a trader profitable.
What indicators I use are of no importance. The key to trading is what works for you... because the system was designed by you.
Read:
Millionaire Traders by Kathy Lein & Boris Schlosberg Normally, majority Forex trading brokers are readily provide the traders user-friendly chart system. The trading platform allows traders to check on the indicators that he or she wants. Like you said, chart indicator such as EMA, MACD, RSI, Bollinger Band and etc, all are readily available. Once we set our preferred indicators on the chart, we can save it as our indicators template and apply the same template to 1 minute, 5 minutes, 15 minutes, 1 hour, 4 hours, daily, weekly, or yearly charts. Forex trading is not always about wins, losses are part of the trading process.
Managing losses on 5 min time frame would be the easiest thing to do. Firstly, because a trader is able to monitor charts all the time, secondly, because losses are usually small due to the nature of 5 minute trading: price ranges are smaller and it is easy to tell when the market starts turning against your position.
Hourly charts have wider price ranges and therefore require wider stops to be placed, and in case of being wrong on a trade, larger losses to be taken.
If to speak about daily charts, losses there if occur are even larger as the market requires wider space to swing the price.
So here you have: smaller profit targets and smaller losses or larger profit targets and larger risks. Making profits with more price action and more trading opportunities, but also a lot of time spent in front of the monitor every day, or making profits with less price action and opportunities and less time spend trading Forex. I think you need to be connected to some experts on this field, but it will cost you money I am using a service that really help by good signals and provide profissional help and training.
You can see it here On smaller timeframes (like 5M, 15M) most used indicators is those which shows momentum movement. Nowadays it is popular to look on higher timeframe for trend confirmation and on smaller timeframe on trend direction. I think India is the best country to earn that kind of income.
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