Forex Strategies What is your best trading indicator??

[Victorial]

The list of indicators is almost endless. One cannot combine all the indicators and trade and that is why one needs to get better with the ones you choose to use and the meaning of candlesticks patterns must be known. Looking at a stock chart displayed on a trader's terminal will include lines, candlesticks all over. Both tools are there to help a trader analyze the price movement of a security. Indicators help in buying, selling, confirming trends, and sometimes, predicting trends. These tools are of two types; the leading and lagging indicators.

A leading indicator leads the stock, meaning it gives signals before a new trend will begin, while a lagging indicator gives many false signals. Yet, traders must know that none of them is accurate in knowing price moves.

How many lagging and leading indicators do you know and use?

 

[Jack Reacher]

There are many reliable technical indicators. MACD, Moving Average, and Bollinger Band etc are few of them. I think the use of indicator is very important. Choose one, two or three indicators and learn the all aspects of those indicators. Test them on demo account. Do back test with them. And analysis the result. Not all the traders find all the indicators helpful. Some understand MACD more while others like Bollinger Band. So you have to find your own edge. For my trading I utilize Eurotrader broker since I like their useful resources like eBook and video instructional activities. They have Technical Analysis Tools with 50 indicators and charting tools

 

[moonchild]

Right now, I don't use any indicator to trade, before I used EMAs but they didn't work out for me, they kind of clutter my charts so I got rid of them, I have many friends that are using indicators to trade and they're profitable, my mentor uses indicators and he is damn profitable, that's why trading is dynamic, I started being profitable when I got rid of all the indicators on my chart.

I don't know if MT5 objects are classified as indicators but that's what I used, after reading the candlesticks bible, I understood how they move and I understood support and resistance, supply and demand if you may, that's it., those are the only things I use in trading the forex markets.

 

[Setho]

This is actually a very tricky question because I usually try to know very little of different kind of trading indicators depending on how the market is behaving. No matter the condition volume is the number one thing that is going to validate my entry triggers. I have also been a very big fan of the exponential moving average is whenever I am looking at the higher time frames together with relative strength index. I believe that these are they trading indicators that I have used the most even though there are some that are usually used but it is not as often as these three.