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

    1. #11
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      While we are choosing the right Forex Indicator for ourselves, We have to consider that too many Forex indicator being used at the same time in Forex trading can cause confusion and losses through the making of many mistakes. Now having known this, A trader should make sure that they use only as few Indicators as possible when they are making their analysis to trade as Technical traders.


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    3. #12
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      Thread closed as the contest has ended..


    4. #13
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      I cannot really say if there is a best indicator because forex is really broad, you cannot say which is the greatest tool that will guarantee your profit, this is just based on experience you have personally have with something, I can say that I prefer rice to spaghetti and someone else will argue the opposite. What each person will eventually settle for won't be dependent on the fact that the other option is necessarily bad but for the sake of having a taste that we are already used to. That is how indicators are, there are a variety of them, no one can boldly say one is better than the other one without having a true understanding of how it works.


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    6. #14
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      An indicator is generally as effective as the that is trading it, you cannot tell someone that is a newbie for example that in order to succeed as a trader he needs to choose one particular type, this would be a wrong assumption because he might never get used to what you have introduced him to, for me the effectiveness of an indicator should be based essentially on practice and screen time, these are the things that are rarely emphasized in the business nowadays.

      You will never get an effective indicator because just like the holy grail, it does not actually exist, you as a forex trader is the person that will determine whether the indicator you have chosen will work for you or not, and the answer is obvious, how much time have you spent in working with it.


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    8. #15
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      As you said there are a lot of indicators that you can use in Forex so it is difficult to determine the best
      So that the best is changing from time to time and I have years of experience in Forex but every time I use a successful index and strong I think it is better and I think I will not leave trading using this indicator
      For example I started using Fibonacci and was very successful and excellent
      Then I identified the moving average index which is still one of the best indicators for me
      Also channels are very good in trading and powerful
      What I would like to tell you is that you should continue to research and experiment with new indicators and tools in trading from time to time


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    10. #16
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      There are countless indicators in the Forex field we know that so its a hard work to pick the most effective one but yes we should always give the priority to select the best one which actually we are comfortable and have the proper command to operate .As me very much positive with the moving average and RSI indicators ,sometimes i use bollinger ,fibo and stoch also to make some clear entry .

      I personally feel that we should trade with simple indicators so that our chart should not be too messy and we can analysis also very clearly so that not only we but also other can understand that .My best Moving average of 200 and sometime i use the 8 and 23 also when i trade in low timeframe because i feel its the best with price action.


    11. #17
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      Well I believe that the answer to this question is dependent in the tastes and preferences of the matter is the trader, of course there are many indicators that can be used, if you do a Google search about this I also sure you would get nothing less than one hundred websites that have one indicator or another to advertise, but the question would now be how much of an understanding do people that are interested in them have.

      The best indicator that I use is the moving average with a combination of the relative strength index which I tweak in a way to accommodate what type of behaviour I want to see before pulling the trigger, sometimes this gives me a false signal which is just normal with forex trading.


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    13. #18
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      From my experience in the market i see that Moving average indicator is the best and the most effective indicator in this market because by moving average indicators we can make two lines one exponential and one simple and when we have any crosses we can define if the trend will continue its way or it will move on the opposite way so if we used moving average crosses beside stochastic indicator we can get very good results from our trading and you can take a look on the following strategy it depends on stochastic only beside moving average indicator .

      http://forum.mt5.com/showthread.php?...ple-strategy-)

      and it is one of my strategies that i depend on it in my trading and my trading with moving average indicator and stochastic indicator helps me too much to define the right way and it also help me in determining the good places that i can enter from it as the following photo so the moving average indicator is the most effective indicator in my view .


    14. #19
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      In my views about indicators that exists on forex business is really good, the indicator are really useful for a traders who has used it. So, if the question is what is the most effective then my answer is almost all indicators are effective for all traders but it is depend on how the traders used it. If a traders know how to read the signal that showen by indicators then that is means indicator are really useful and helpful for that traders. In my opinion, the good indicators for myself is about support and ressitance leve. I prefer only learn more deep this indicators than others.


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    16. #20
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      Effective or not it is depend on the trader who use the indicator, if a trader can't understand how to read the signal that show by indicator he use then it can't be effective for a trader. I think the best for lookin good indicator is search the simple indicators first that you can read and simply to understand how to handle that indicators you choose. There are so many simple and complicated indicators that exists on internet, you can get it for free and some of them is for sale, i am not sure if a indicator "for sale" is good or not i never try to but one of them but if we check from the testimonial from buyers, the indicator is really good.


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