I was going through some files that I had done a long time ago and stumbled across these that I never posted anywhere.
Anyway, it seems that predictive powers are assigned to indicators by those fairly new to the field of technical analysis. I think the best way to understand indicators, is to pull them to bits and see what makes them tick. Then you can see exactly what it's showing you (or not showing you).
I guarantee you'll look at indicators completely differently, or perhaps not at all after going through this exercise.