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    Thread: What is the Best and most effective Forex indicator?

    1. #21
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      Default Re: What is the Best and most effective Forex indicator?

      Quote Originally Posted by GhostMode View Post
      What is the Best and most effective Forex indicator?
      I have been trading in Forex market since 2012. With this long term experience i find that RSI indicator is the best indicators. Personally i am not a big fan of indicators anymore. Earlier i was really passionate about indicators but recently i like to trade with naked platform. Although to perform well in trend line analysis, you should take help from supports and resistance level. You need to draw it by yourself. If you are able to trade through trend line analysis and RSI indicator combinely then i believe that you will get success for sure. It really works and i got success many a times. So, i refer you to use RSI indicator along with trend line analysis to become a professional trader. You know almost every professional trader use trend line analysis with naked platform.


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    3. #22
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      Default Re: What is the Best and most effective Forex indicator?

      Indicators are tools used to analyze the market in other to know the direction the price will go. There are so many indicators in the forex chart but there are indicators which have higher degree of accuracy than other indicators even though they have some disadvantages. Indicators I normally use are RSI, stochastic and Ichimoku but I use RSI most of the time in other to know when the market is oversold or overbought. I combine this indicator with support and resistances in other to get a clear confirmation.
      The hard truth is that when you use only indicators, it could mislead because indicators lag most of the time and as a result, it gives fake signals which could plunge your account into losses. So I will advise any trader to depend on indicators alone, combining it with support and resistance level will rather help.


    4. #23
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      Default Re: What is the Best and most effective Forex indicator?

      There are many types of indicators traders can make use of in the forex market. But the ones we choose to use most time is based on individuals style of trading.
      But when it comes to the best forex indicators I will base it on the most use indicators among the forex traders.

      As we all know most traders like to follow the trends lot because it seems to be the easiest way to make profit from the forex trading market.

      So for me the best indicators are the trend indicators which can include the Following

      1. The moving average which shows us the average moving of price in a given period of time.
      2. The bollingar
      3. MACD etc


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    6. #24
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      Default Re: What is the Best and most effective Forex indicator?

      Regardless of how good or effective a forex may be, it will not automatically provide profitable trades to you if you do not use it in the right manner. As a matter of fact, almost all standard indicators on the trading platform are effective and good indicators. What makes an indicator to give an outstanding performance is the proper usage of such indicator.

      An indicator can perform wonders when such indicator is very suitable for the execution of the forex trading strategy which you are applying it. A best indicator is the indicator that best enables you to execute your forex trading strategy. You do not look for the best indicator for even when you do not have any strategy in mind. You only look for the best indicator for your chosen strategy, because the best indicator for one strategy may not be the best for another.
      POSSIBILITIES ARE INFINITE IN THE FOREX MARKET, YOU CAN ACCOMPLISH ANYTHING !


    7. #25
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      Default Re: What is the Best and most effective Forex indicator?

      Quote Originally Posted by GhostMode View Post
      Indicators are quite important for the traders use in this Forex business, It forms a basic foundation of the system of analysis that a Forex trader should apply to their trading. This topics intention is to discuss in express terms about the various Indicators that exist in the Forex Markets and then find out which Indicato or sets of Indicators that will serve each trader as the best. Please which one is the best?
      The best Forex currency indicator will be the one that suits your own trading style and psychology. However, there is no single Forex best indicator that fits all trader styles. The good news is there is a wide variety of Forex technical indicators available. With time and experience, you should be able to find the right indicators for you. There are a lot of contenders for the most popular Forex indicator – and some get quite complicated, for instance, Forex technical indicators which measure 'open prices', 'highs', 'lows', 'closing prices' and 'volumes'. This is why you should start with more simple Forex trading indicators.


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