There are no good or bad indicators. There are traders who are able or not able to apply them. For the oscillator to give effective signals, you need:
- Choose for a specific currency pair such a period and timeframe, on which the percentage of effective signals will be maximum.
- Learn to visually and intuitively determine the moments of occurrence of accurate signals. For example, ignore signals at the time of a flat or at the moments of influence of fundamental factors on the price.
- Combine the index with other indicators and graphical analysis