I can believe that. But then maybe they rely on other market analysis? Or maybe they follow 'gut feeling'? The point I was trying to make (and maybe I got it wrong) is that one strategy can be made up of more than one indicator, surely? For example, trading over a 20MA to me, is an indicator, not a strategy. But trading over a 20MA + RSI 50% level + trendline break, etc etc is a combination of indicators making up a strategy especially if combined with carefully chosen fundamentals and other market internals like order flow, etc. I don't have level 2 so I actually wouldn't know about order flow, but perhaps it's just a matter of interpretation?
