I think lagging indicators can be useful for traders and investors who want to trade with the trend and avoid false signals. Lagging indicators can help them identify the prevailing trend and its momentum, as well as spot oversold and overbought conditions that may indicate a trend reversal. Lagging indicators can also help them set stop-loss and take-profit levels based on the volatility and support and resistance levels of the asset.
However, I also think lagging indicators have some limitations and drawbacks. Lagging indicators can be slow to react to price changes and may generate signals after a significant move has already occurred. Lagging indicators can also be prone to whipsaws and false signals when the market is choppy or sideways. Lagging indicators can also be misleading or contradictory when used in isolation or without proper context.
Therefore, I think lagging indicators should be used with caution and in combination with other types of indicators, such as leading indicators, which can provide early signals of price movements, or coincident indicators, which can provide real-time confirmation of price movements. Lagging indicators should also be used with other tools and methods of analysis, such as fundamental analysis, chart patterns, candlestick patterns, etc. Lagging indicators should also be customized and optimized according to the asset, time frame, and trading style of the user. Lagging indicators are not a magic bullet, but a tool that can help traders and investors make better decisions if used properly.