WHATS YOUR FAVORITE FOREX INDICATOR AND WHY?

As the title of this thread reads, what is your favorite forex indicator? I happen to use trendlines on the 4 hour chart to see the overall trend. Then my 2nd most favorite indicator would be support and resistance lines that form on the psychological levels.

What your favorite indicators and why?

 

I use mostly trend following tools and compare them with trend confirmation lines.

 

I would say Average True Range which is easy to read and tracks the volatility of market . Once I had figured out how to read ATR, I use its current volatility results to decide on when to place a stop or to limit orders on existing positions.

 

The most reliable forex indicators are Boliinger Bands in combination with guidance from RSI. These two indicators combine to give forex traders around the world reliable trading signals. In my opinion, they are likely the only two signals you should ever be using. They happen to be most dependable from H4 time frame and higher.

 

I should take a look at that. I used the bollinger bands in the past but in lower timeframes.

 

Ouch calm down a little with those caps there.
I really like the EUR to USD, along with a couple others that I can't remember too well. I believe EUR to JPY made me a good amount of money when I tried the simulator, but I don't know if it's a good long term plan. So anyways by indicator do you mean as in currency pairs?

 

It,would be nice if we had a thread or in this one even where we share our indicators in depth, you know how to set them up? I'd really like to know how to use the bollonger bands betters

i use RSI, AND CCI in conjunction meaning on the same chart on top of each other, and I also do that in another box with the MACD and stochastic oscillator, which are actually my 2 favorite in conjunction because they help me determine reversals in the market. I like ATR, because it helps me with how far I should put my stop losses.

 

i do not use indicators

I believe indicators are based on probabilities whereas market direction is based on realities. I therefore prefer to use the price action as my technical approach while i follow the trend and put my eyes on the news. Trading has been more rewarding and less stressful for me since i started using this objective trading method.

 

Hello,
and welcome, since it's my first post here
My favorite indicator is the Stochastic and I also use a moving average as a filter for long/short trades. Comes in real handy and I fell very comfortable with it.

ML

 

Since starting my forex trading journey, I have used the RSI and MACD indicators on the FreshForex broker. The main purpose of using these indicators is that their direction is 90%+ accurate, and they are very easy to use.