How to use indicators?

[Ivo Zetticci]

An indicator is a technical tool that traders use for their technical analysis. There are a lot of types of indicators in the market. Don’t use multiple indicators of the same types in one chart. It makes the chart more confusing. Simple is the best in trading. My broker Eurotrader also offer all kind of necessary indicator to their MT4 trading platform.

 

[Mayorla]

To you, which indicator do you think is best, the one that's more accurate..
Tho, I use Relative Strength index( RSI) when trading and I can say it has given me 60% accuracy..
What indicator do you think I should buse to attain like 75 or 80% accuracy?

 

[Samuelkanu]

There are many indicators for trading Forex but they are merely tools to help you in making decisions. You have to know what indicators show on the charts so as to be able to know the one that will be useful for you. Some show the trends and others show possible overbought or oversold areas. There are others who show the momentum and strength of the trains. My favourite indicator is the adx because it shows the trend as well as the strength of the trend. You should be careful because some indicators repaint and therefore will mislead you.

 

[Peppul]

Indicators are additional or overlays on the chart that provides extra information through mathematical calculations on price and volume. They also tell you where the price is likely to go next.
Like trend indicators tells you which direction the market is moving in. If there is a trend at all. They are sometimes called oscillators, because they tend to move between high ad low values, like a wave.
Also momentum indicators tell you how strong the trend is and can also tell you if reversal is going to occur. They can be useful for picking out price tops and bottoms. Momentum indicators include relieve strength index (rsi), stochastic, average directional index (adx).