Forex Trading platforms now are blooming with various indicators, where each indicator offers a different study of the market. For novice traders this variety of choices can create problem of which indicator to choose, where to start from.
There are couple of common Forex indicators that a Forex beginner may start with:
A. Moving averages: exponential, slow, weighted etc. Moving averages smooth out the data providing the clues about market directions.
B. Stochastic: slow, fast, full. Stochastic is a great indicator that shows market overbought, oversold states, and trend changes.
C. RSI: is an oscillator which works similar to stochastic.
D. MACD: moving averages convergence, divergence. An indicator that has many qualities, the main of which is to show divergence between the price and indicator readings.
So here you have four Forex indicators to start your tests with.
Good luck!
Subscribe to:
Post Comments (Atom)
3 comments:
There is a resource on Forex indicators, could be of certain use to Forex traders: http://forex-indicators.net/
Hi,
Checked your blog through your kind comments on my APF presentation on FxStreet. The topic of trend lines caught my attention & just thought I would put in my perspective on it. Everyone has a different way of looking at the market, and what works for one trader may not work for another. With this reference, I wanted to comment on the fact that I use sloping trend lines a lot & have found them to be very effective...across all time frames.
With your permission, I could post a simple & effective trading technique using trend lines.
Regards,
Sunil Mangwani
Hi Sunil Mangwani,
That would be great.
I'm looking forward to learn about trend line trading techique of yours.
Regards,
Forexmouse
Post a Comment