Many traders use good indicators in their work. Forex is very changeable, and to find the optimal entry point, you need to use all available tools. With the help of signals given by indicators, market participants decide to buy or sell an asset. As practice has shown, there is no single indicator that would always give accurate signals for entering the market. On the other hand, using the best Forex trend indicators, you can see very interesting moments in the market. Eliminating each other's false signals, automatic analysis tools allow you to objectively assess the situation.
Good Forex indicators are indispensable tools for participants If specialists can see the market and anticipate price movements without auxiliary programs, then beginners simply need them. The very first thing to do when analyzing the situation before making a deal is to determine the trend. It will indicate the entry direction: buy or sell. Further, having found the most attractive entry points, you can already take active steps. Good Forex indicators allow you to determine price movements as accurately as possible. Instruments can be used in different time periods, which will give grounds to study both long-term and short-term trends. Indicators provide assistance when available open positions. Analyzing their data, you can determine in which price movement has already been exhausted and it is worth waiting for a reverse movement.
The simplest and most versatile trading tool in the market is moving averages, or Two indicators, two lines on a price chart, can give very accurate signals. Tools are used by many traders and underpin numerous strategies. For example, an automatic instrument with parameters of 200 and 50 can indicate a trend. It is generally accepted that when the 50th line goes above the 200th, the trend is up. When the situation is reversed, the trend is down. Many, experimenting with the parameters of the instrument, achieve decent results in trading. For maximum efficiency of moving averages, you need to set your own parameters for each time period. The best Forex indicators are undoubtedly moving averages.
In the 60s of the 20th century, Gerard Apparel developed an indicator called MACD, which helps confirm the trend. With the help of a computer program, it is possible to clearly fix the phenomena of convergence and divergence. When the price on the chart goes up, and the indicator falls down, this indicates a change in the current trend. This is also indicated by the mirror situation. With positive readings of the instrument, we can talk about the north direction of the price, with negative readings - about the south. Based on the information provided by the tool, you can make effective trading decisions. In combination with moving averages, MACD will help to show excellent trading results.
When studying good Forex indicators, one should not ignore the RSI. This analysis tool shows when the price reaches the overbought zone and the oversold zone in the market. If the indicator waves are closer to the zero level, then the number of sales has already reached its critical zone. When the indicator waves reach the level of 100, this indicates that buyers have already run out of strength, and the trend is running out. Stochastic helps to filter false signals. This is another tool from the "Best Forex indicators" category. Stochastic is more sensitive to price movement. When the signals of two instruments overlap, this indicates that it is worth looking for entry points.
If we are already describing the best Forex trend indicators, it is worth considering also The tool draws a moving average, the parameters of which are set by the trader himself. A certain corridor is formed that determines the average statistical deviation of the price in a certain period of time. On the chart, the indicator looks like a corridor, within which the price “walks”. Signals to buy or sell come when one of the boundaries of the corridor breaks through. This tool is more helpful for beginners to see the market. There is another strategy, according to which, after a significant narrowing of the corridor, a strong movement begins.
It is convenient for many traders to use the best Forex arrow indicator in trading, which everyone chooses on their own. The advantage of this automatic tool is that it does not overload the price chart. It is formed on the price chart in the form of arrows that determine the expected market movement, taking into account a number of parameters. Visually, this trading tool is perceived easily, which simplifies trading for the trader. The best indicators (“Forex”) without redrawing are very effective in trading, the readings of which do not contradict the price movement in the market. One example of drawing is different readings of indicators at different time intervals, which show different values. This makes it difficult to make trading decisions. That is why it is extremely important to check the instruments for the presence of drawing before using them in trading.
Each trader has his own best Forex indicator, which is most convenient for him to use. This does not mean at all that the tool used by a particular trader is the most effective. Most likely, the information that it conveys is easiest for a certain person to perceive. Experts say that in order to build a profitable trade, it is not necessary to install all available instruments in the terminal. The optimal number of indicators is 2-3. Let's pay attention to the fact that almost all tools for automatic trading are built on the basis of technical analysis and on the basis of prices in a certain period of time. Moreover, they all show almost the same signals. The only question is which tool is more convenient for each person to work with. Please note that it is impossible to use only indicators for trading, since they tend to give false signals. Their implementation is much more efficient and profitable.
All indicators can be conditionally divided into 2 large groups:
Standard - those that can be used immediately after installing the trading terminal;
Custom - they need to be downloaded/purchased and downloaded, and then installed in the terminal.
It is relatively easy to make a top among standard indicators, almost all traders know them, but it is difficult to select worthy ones among custom ones. There are too many of them and not all of them have usage statistics and traders' reviews.
Among the standard indicators, attention should be paid to:
Moving averages - the indicator is as simple as possible, but can be used both to determine the state of the market, and as a support / resistance level, if you move the MA vertically, we will get a channel, on the breakdown / rebound from the boundaries of which it is so convenient to trade. And several MAs with different periods will allow you to determine the moment of trend formation. Moving averages are used in many custom indicators as an auxiliary tool, although they may not be displayed on the screen;
Stochastic - in areas where there is no pronounced price movement, this particular oscillator works great. Great for strategies in which the market is entered at the end of the correction;
RSI - relative strength index. It is used for the same purposes as Stochastic, it also works well during a flat, it gives a lot of false signals on a trend. It has been known to traders for decades, but during this time it has not lost its relevance at all;
MACD is an unsurpassed tool for finding divergences on the chart, and a lot can be understood from the position of the histogram relative to the zero level. Based on the MACD, a lot of custom indicators have been created;
Bollinger Bands - the algorithm is chosen so that the price, with standard parameters, remains inside the bands for about 95% of the time. The style of working with the indicator follows from this - it is great for trading on a rebound from the channel boundaries, you just need to supplement it with several filters;
This is the end of standard indicators. They can be listed for a long time, we did not mention the commodity channel index (CCI), ZigZag, volume indicator and many other worthy algorithms. This happened not because they are bad or out of date, but most traders are familiar with them, but we agreed to pay more attention to custom indicators. Among them there are real pearls.
The ranking contains really interesting and useful indicators. Perhaps you have not heard their names or have not tried them in work, but all the tools that will be described below can be used in trading. The distribution of places in the ranking is rather conditional.
This indicator has a rather unusual history of creation. Its author has worked for many years in the industry associated with the production of equipment for working with aerospace signals. His responsibilities included the development of algorithms for smoothing signals and eliminating interference, and later he applied his achievements to the creation of his oscillator.
The history of the creation of this indicator is an attempt to find a balance between the delay in receiving a signal and its reliability. After all, everyone is familiar with the situation when, in order to increase reliability, a trader increases the period, for example, of a moving average, but as a result receives a large delay in receiving this signal.
The calculation algorithm is complicated, so let's move on to the settings, you can change only 2 parameters:
Gamma - is responsible for the speed of the indicator's response to price changes, with an increase in this parameter, the oscillator line becomes smoother, but the delay also increases. Default gamma = 0.7;
Countbars - sets the number of candles on which the indicator will calculate.
In the network, in addition to the standard Laguerre indicator, there is also a small modification of it, in which there are much more settings and additional points of intersection of the indicator line with levels. The calculation algorithm does not change.
Several signals:
Crossing the 0.75 level line from top to bottom indicates a likely downward movement, the price has left the overbought zone, crossing the 0.25 mark indicates an exit from the oversold zone and a likely further growth;
Identification of the state of the market - if the indicator line is below the level of 0.5, then we give preference to sales, if above, then purchases.
Even by itself, the indicator catches any price movements quite well. But we still do not recommend trading only on his signals, add a couple of filters. You can combine several Laguerre indicators with different Gamma values.
You can download the Laguerre indicator -
This tool is interesting because it allows you to find out the price of oil in rubles. This gives traders a couple of interesting opportunities.
In order for the indicator to work correctly, it must be attached to the oil chart, that is, to the Brent/USD chart (in the terminal it will be referred to as BRN or Brent). In the settings, be sure to specify the name of the USD/RUB currency pair. As a result, the indicator, as it were, multiplies 2 fractions Brent/USD x USD/RUB = Brent/RUB. The Trading View service provides the same opportunity, but you will have to pay about $30 per month for access to the full functionality. Here you have the opportunity to get a spread chart absolutely free.
After starting, if everything is done correctly, you will see this picture. At the bottom and the price of oil in rubles is displayed.
There are several options for use:
Look for discrepancies in the oil price chart in dollars and rubles and trade on the assumption that this discrepancy will definitely smooth out;
You can reduce the scale as much as possible on the indicator itself, draw oversold / overbought zones and trade at the exit of the indicator line from them. The idea is that when the price in rubles rises too much and reaches extreme values, then the fall of the ruble may stop. When less and less can be earned for oil in rubles, the Central Bank may lower the ruble slightly in order to equalize the revenues to the state budget in rubles. After all, the budget of Russia is drawn up in rubles, so by adjusting the exchange rate national currency can be regulated and revenues to the budget.
You can download the Black Gold indicator -
We recommend using Price Action patterns to all traders, regardless of what trading strategy they use. If there are difficulties with identifying patterns on the chart, an indicator (more precisely, an information panel) will come to the rescue, on which 3 typical RA patterns will be displayed in automatic mode. You just need to evaluate whether it is worth taking this pattern to work.
He can work with only 3 RA patterns:
Pin bar;
The engulfing model, in the indicator it is called a vertical bar;
Double High/Low.
There are many settings, most of them do not directly affect the operation of the indicator, but there are a number of parameters that are directly responsible for the configuration of patterns, as well as the display of patterns:
Timeframe settings block - sets the time interval on which the indicator will look for patterns. By default m5, m15 and monthly timeframe are disabled;
Symbols - in addition to the 3 currency pairs for which RA patterns are searched, you can add any other by simply entering it in this field;
Max_Body_Tail_Ratio - for the pin bar pattern, the minimum allowable ratio between the size of the body and the size of the shadow in points is set. There are settings sections for the other two patterns.
After launching the indicator, a separate table will appear under the chart, in which for 3 currency pairs they are indicated:
Symbol - currency pairs;
TimeFrame - on what time interval the indicator found the pattern;
Direction - direction of the pattern;
Pattern - pattern name;
Age - how long ago the pattern was formed. The age of the models is indicated in candles;
Completion - at what price the model was formed;
Chart - clicking on the link immediately opens the chart on which the pattern has formed. Moreover, it opens immediately at the desired time interval.
On the chart, a smiley is placed above the candle where the pattern has completed.
Do not forget that the indicator only checks the patterns by the ratios between the key elements of the candle. Thanks to him, you will not miss a single pattern, but each one must be checked manually - not all marked patterns should be taken into work.
You can download the Price Action indicator -
This indicator is a successful combination of several standard MT4 tools. Thanks to the original approach, it was possible to obtain an algorithm that produces reliable signals.
TDI uses:
Standard Relative Strength Index (RSI) indicator, but it is smoothed with a moving average;
Bollinger bands are used to estimate volatility, that is, the fluctuation amplitude of the smoothed RSI is estimated.
There are many settings, but the operation of the indicator is most affected by:
RSI period - by default, the period is 13, the author does not recommend going beyond the range of 8-25 when changing the period;
RSI price - at what prices RSI will be calculated, you can leave the default value;
The name of this indicator can be translated as "force meter". Strength does not mean volatility or the magnitude of the expected movement, but only the position of one currency relative to another. That is, after the signal of the indicator, a trend may arise that allows you to take a couple of hundred points, or it may happen that nothing happens, and the price will move in the right direction by a couple of tens of points at most.
From the settings we note:
AutoSymbols - if you activate it, the indicator will draw lines in the window for all pairs that are in the Market Watch window;
SymbolsToWeigh - in this field you can set the pairs for which you want to calculate;
MaxBars - on how many candles the indicator lines will be displayed, the value "0" disables all restrictions;
AddSundayToMonday - when this option is activated, Sunday will not be taken into account in calculations;
ShowOnlySymbolOnChart - work will be carried out only with those currencies that are associated with the current symbol;
AutoTimeFrame - the time interval will be selected automatically;
ExtraTimeFrame - additional time interval;
IgnoreFuture - the indicator will not be redrawn;
ShowCrossAlerts - an alert is enabled, a sound signal will sound as soon as the price crosses the line;
DifferenceTreshold - if you have activated showOnlySymbolOnChart and the distance between the lines exceeds the predefined value, the color of the line will change;
ShowLevelCross - enable/disable display of channel lines in the indicator field;
LevelCrossValue - values of channel lines are set;
Cur, color - the first parameter allows you to enable the display of individual currencies, and the second - change the color of the corresponding lines.
As for the signals, you need to consider:
Crossing of lines, if the lines of 2 currencies intersect and diverge, while both are inclined at a large angle, then a good movement in the corresponding currency pair is likely. In the GBP/CAD example, the crossover occurred outside the channel, the lines quickly diverged, while the strength of the Canadian dollar grew. We can see the reflection of this on the chart - GBP/CAD went down, which means that the Canadian has strengthened its position;
Sections where the lines are almost parallel indicate that this currency pair is flat. In the example, in the selected section of history, the lines are almost parallel to each other US dollar and Swiss franc
You also need to take into account the breakdown of the channel, when the line goes beyond its limits, this means that the strength of the currency has increased so much that a trend can form.
This indicator can be used both as a basis in a trading strategy and as an additional filter.
You can download this indicator -
Another extremely successful combination of 2 standard MT4 indicators. Its authors, Stanley Kroll and Tushard Chanda, point out that standard oscillators, for all their advantages, also have a number of disadvantages. In particular, the relative strength index indicator most of the time is between the levels that limit the oversold and overbought zones without crossing them. As a result, the trader misses a lot of signals. Theoretically, Stochastic + RSI should be devoid of these shortcomings.
The settings are the same as in standard indicators:
RSI Periods - period of the relative strength index;
Percent_K and Percent_D - Stochastic parameters;
NumOfBars - the number of candles on the history for which the indicator will calculate. With a value of "0" there is no limit.
Of the differences, we note the absence of oversold and overbought zones as such, and the indicators themselves spend much more time at levels of 100 and 0, they replace oversold / overbought zones.
Differences in the operation of standard versions of oscillators and the modified indicator are more convenient to observe if you add standard Stochastics and RSI to the chart. The same parameters are used as in the Stochastic+RSI indicator.
The main differences are immediately visible - when the standard RSI just starts to go down and forms the next low somewhere between levels 20 and 80, the Stochastic + RSI line is already at the zero level. It is the same story in case of the rise of the standard RSI line.
You can also work at the intersection of the signal and main lines;
Another option for working is at the intersection of the main line of the indicator and level 50. When level 50 is crossed from the bottom up, there is a high probability of an uptrend.
This indicator can be used as a replacement for the standard Stochastic and RSI oscillators. .
This indicator is used for noise filtering, i.e. random price fluctuations. It can be used on any currency pair and on any time interval without exception. Ozymandias is extremely simple, its signals are easy to read, but this does not affect profitability, with proper use, you can earn money with it. It is recommended to work on timeframes from m15.
In the settings, you can change only one parameter - the amplitude, that is, the number of candles that the indicator will use for calculation. The authors recommend changing it in the range from 2 to 4.
After adding the indicator to the chart, the trader will see the following picture.
Now according to the indicator signals:
It can be used to identify the state of the market. The color of the central line indicates the direction of the trend, blue indicates a rising market, red indicates the strength of the bulls. In addition, the slope of the line must also be taken into account. If the line does not have a slope, then in the flat market, it can be both in the bull market and in the bear market, here you already need to focus on the color of the line;
The upper and lower lines should be considered as the boundaries of the oversold and overbought zones. If the market is growing (this is indicated by the color of the center line and its slope), and the price is above the upper limit, then it is considered that the market is not overbought and you can try to open long positions. For sales, the rules are reversed.
Trading only on the basis of the signals of one indicator is risky, but some traders try to work on the signals of Ozymandis. Consider the rules of the strategy using the example of purchases:
It is necessary that the central line turns blue and points upwards;
At least 2 candle highs must be rising;
The price is above the upper limit of the indicator;
If the conditions are met, then a pending order is placed above the High price of the signal candle (where the conditions for entering the market were met).
The stop is placed under the low of the signal candle, and a fixed take profit may not be used, because it is not known how long the price will move in the right direction. You can close the deal either after the line changes color, or after changing the color of the central line.
If you work only on the signals of Ozymandis, then the profit is small, due to the delay of the signal, the trader enters in pursuit, at a not the best price. So it is better to use it as one of the elements of a trading strategy.
You can download the Ozymandis indicator -
Practice shows that it is possible to work profitably with standard MT4 indicators, but if their capabilities are not enough, then you can always set the desired indicator yourself. As for the standard algorithms, they are all well known to traders, so it's easy to make a rating.
It is difficult to name the best Forex indicators, because a lot depends on the style of work of a particular trader. One will be able to profitably work with a pair of moving averages, the second one is more suitable for Stochastic, the third one will prefer Bill Williams indicators - there is no universal recipe.
The main difficulty for a beginner is to choose a Forex indicator that suits his style of work. All the abundance of algorithms is divided into several groups:
To choose, you need to clearly understand:
You can download Forex indicators absolutely free of charge, and a description of the essence of their work will allow you to immediately understand exactly how they work. For each of the described algorithms, an analysis of the principle of operation, settings and recommendations for use is given. Most of the considered indicators belong to the category of custom ones, they can be used both during a trend and in flat market areas.
New Forex indicators are added regularly. It is physically impossible to describe all the new algorithms - they appear too quickly, many are worthless. Therefore, the emphasis is only on really interesting indicators.
TLB OC indicator v02
Any successful trader among the merits of his achievements will definitely name as the most important - the ability to work with levels. Correctly build them, understand how the price behaves when approaching the level and directly on it.
Chaos Signal indicator
The Chaos Signal indicator is a complex and completely independent tool that does not need any additions. With apparent chaos in the market, the latter obeys certain trends and rules. So, despite the apparent chaotic price movement, you can find weak links or market inefficiencies and go in the right direction.
ivar indicator
The iVAR indicator is a unique tool that allows a trader to visually filter out a market condition called a flat. The mathematical basis of the indicator is to determine the fractal structure of financial time series using the variation index, which allows using less data in calculations compared to the Hurst exponent. All this sounds quite threatening for a person who is far from mathematics, so that's the end of the scientific part.
Demarker indicator
The Demark indicator is very effective when a trader intends to improve the ratio of profitable and losing trades. The main advantage of such an oscillator is the ability to determine the direction of a trend movement or its change.
Vulkan Profit indicator
The Vulkan Profit indicator is an arrow indicator that gives signals from the intersections of moving averages according to the Sidus system. The moving averages themselves are not displayed on the chart, but if it is easier for you to believe the arrow signals when there are real MAs in front of your eyes, you can add them to the chart yourself.
Bollinger Squeeze indicator v9
The Bollinger Squeeze v9 indicator has nothing to do with another well-known instrument of the same name - Bollinger Bands. This is a mixture of five in one of several oscillators that can be changed by setting a single triggerType parameter.
Envelopes indicator
The Envelopes indicator is a pair of moving averages that form a channel. The indicator offset relative to the baseline is set in the settings, which allows you to adjust the channel width.
VPFx indicator
VPFx is a volume indicator that, in capable hands, can become the main strategy tool. However, it gives the best results in combination with other methods of technical analysis. VPFx is designed for use in MT4 and MT5 terminals, where there are no true volumes by default.
MBFX Timing Indicator
The author of MBFX Timing is Mustafa Belhayate from Morocco. He gained fame by winning the international tournament of traders held in 1999. The basis of the victory was an interesting channel indicator, which the developer named after himself. The effectiveness of this trading tool has made it very popular; moreover, it has become part of a huge number of strategies for trading on binary options based on a trend reversal.
Forex Paradise indicator
Forex Paradise is a proprietary indicator that allows you to make huge profits due to the high number of accurate entries. The developer claims 35-85% profit per month from the deposit, while the indicator provides more than 87% of profitable trades. According to the developer, the effectiveness of this trading tool has been proven in practice, and it is enough for a trader to follow the signal arrows to enter the market.
WPR VSMark indicator
The WPR VSmark indicator is based on the classic William's Percent Range or %R. In a single application, the indicator did not have much success, since its significant shortcomings did not allow determining a trend change in a flat movement. The intersection of the lines of the indicator chart in such cases provided only erroneous signals.
Second Chart indicator
Any trading strategy has an individual set of conditions and tools that allow you to perform technical and fundamental analysis, interpret signals and determine market entry and exit points.
It is possible to get a stable profit from trading on the Forex market only if the trader opens orders with “knowledge of the matter”. If you enter the market randomly, then the profit will depend solely on the combination of circumstances.
To increase the efficiency of trading, it is worth understanding What are the best indicators to use in Forex?. With their help, the trader assesses the situation on the market and decides whether to open a deal or whether to wait.
Despite the differences in the algorithm of work, all indicators are conditionally divided into groups. The belonging of a particular tool to a certain category does not mean at all that different algorithms cannot be used simultaneously. They are combined in any combination, everything here depends only on the preferences of the trader.
Sometimes there are instruments that display volatility, but they all work on the basis of mathematical calculations using formulas.
Bollinger Bands
If the question of which indicators are better to use on Forex is one of the most exciting for a beginner, then experienced traders are often limited to the standard set supplied with the MT4 terminal.
One of the most popular indicators is Bollinger Bands or BB. It is placed directly on the chart, preferably switched to display Japanese candlesticks. Its work is based on a simple moving average and two lines displayed in parallel, with shift periods set in the settings.
The RSI indicator or Relative Strength Index (relative strength index) is used to determine overbought and oversold levels (). For ease of display, it is fixed not on the chart itself, but below.
Traders often use several technical instruments at once, which allows them to weed out false signals and increase the percentage of profitable trades. By the way, you can not look for rare items on the Web, but get by with only algorithms from the standard set of the MT4 terminal.
One of the options for such a combination is RSI + BB. To start using such a “homemade” combination, you first need to put RSI on the chart, and then Bollinger Bands. We recommend choosing the Previous Indicator’s Data mode, otherwise it will be automatically displayed on the chart.
The trading system based on the given complex looks like this:
This approach is considered much more risky, but it allows you to earn much more profit if the trader chooses really good moments.
For intraday trading, modern traders use a lot of various indicators that make it possible to accurately determine the moment of entering the market. Such algorithms have different approaches to determining signals and can be used for medium-term trading and so on.
Laguerre indicator
It is the Laguerre indicator that is designed to minimize noise effects and track the emergence of a new trend. When creating the indicator, the developers used the analysis of the spectral type max entropy used in geophysics.
According to a survey of traders, this indicator is an excellent tool for trend trading. The indicator owes its popularity to the fact that it has the ability to indicate certain graphic periods much better than other standard type algorithms available in MetaTrader.
This indicator, with equal success:
The Laguerre indicator displays a trend line in a separate window and can be used both for individual trading systems and as confirmation signals.
The Laguerre indicator is the best solution for a trader
Each trader, both for intraday trading and for any other, needs his own strategy. And each such strategy, in addition to filters, requires the presence of a main indicator that provides input and output signals to the market.
According to a survey of traders, the ScalperDream indicator is a great option for scalping, which is why it made it to the top rankings.
The main parameter of this algorithm is "PERIOD". If you increase this value, then the indicator slows down, which leads to a decrease in the number of signals, but their quality becomes better.
Entry into the market is carried out when the indicator changes color. If the color changes from red to green, then you should buy, and if, on the contrary, from green to red, then it is advisable to sell. are taken from the alert.
In addition, positions must be closed when opposite signals appear.
If “ScalperDream” shows columns of the same size for a long time, this is a flat during which it is not worth opening deals. If there is Profit for the position, and “ScalperDream” displays 5 or more identical bars, then the market should be left.
Details about the ScalperDream indicator
For intraday trading, you can use both automatic and manual indicators. Just, which got into the rating of the best Forex indicators, it belongs to those.
This indicator is somewhat similar to the well-known "" because it also combines local extremes on the chart with straight lines. Directly, the highs and lows are indicated by large yellow eyes, with a blue or red dot in the center, for this reason the indicator was called “Eye”.
According to a survey of traders, using the Eye indicator for intraday trading is quite simple:
The indicator has the "Pivot" function, and it also has a huge number of settings that are clear in the names and have explanations.
A distinctive feature of this indicator- the presence of a function that saves old redrawn signals, so the "Eye" can be used in automatic trading by embedding it in expert advisors.
The list of Forex indicator ratings continues with the ADX CROSSING MA algorithm, which is built on average directional movement indices. This indicator is similar to "", but according to a survey of traders, it has a simplified interface, which is built on signal entry points to the market.
The beauty of using this algorithm is that the indicator automatically interprets all ADX readings on its own, indicating to traders the moments of sale or purchase.
In other words, you no longer need to watch the indicator lines to make the right decision. Among other things, ACM is able to find the average values of "ADX", which makes it possible to smooth out market noise and find the best entry point.
Trading with the indicator is very simple:
Why is this indicator so interesting for intraday trading? "Bollinger Squeeze v9", this is a combination of the five most practical algorithms into a single algorithm, well-known and popular indicators among traders:
This indicator combination, which is most often used in practice today when trading on foreign exchange market. Therefore, the developers have created this wonderful instance.
The convenience of using the indicator, according to a survey of traders, is that it is possible to instantly switch between all five indicators using a single variable - "Trigger Type".
It should be noted that using this variable, we will not fill the working screen of the terminal with all five windows, but will work with the only external indicator window. And this, you see, is very convenient, especially if you use not one, but several analysis tools at once.
Enough an important factor, the best use of this algorithm is trading time. Here, the greatest volatility and the possibility of a correct entry into the market have an absolutely opposite frequency.
That is why the indicator for intraday trading "Bollinger Squeeze v9" has the ability to determine the beginning of a trend movement in automatic mode.
What is the result?
In conclusion, we want to say - you should always remember that using any one, even the most modern and advanced, included in the rating of the best trading algorithms, in currency trading, will not always be a guarantee of success.
One indicator is just a useful tool. But in combination with other equally useful tools, it can bring quite good results, so experienced traders recommend using several indicators that correspond to your chosen trading strategy.
Best Forex Indicator Designs - Technical Review
