What are the top 5 most consistent and widely used indicators on the forex?
May 21, 2009 by stockthegremlin | Posted in Investing
Looking for an seasoned or cited answer as to what the most consistent and universally used indicators are for the forex markets, and what the most popular time entrap is. I usually trade the 1 hour, but I'm not assured if that is best or not.
here's a straightened out forward answer:
- at least the 1hr chart, the larger the timeframe the more trustworthy signals become because it holds more (economic or not) news. 4hr and daily charts are also popular...
- The indicators: try to keep your mark off of mechanical systems since the market is an organized process. Price is the ultimate meter and moves in waves but nonetheless in a charge instructions. You therefore need indicators that approach the organic temperament of the market as much as possible. Moving averages, bollinger bands and fibonacci are literally all you need directionwise and then you could use oscillators (stochastics, RSI, CCI, MACD) and/or candlepatterns for entries. Keep in dress down that oscillators such as RSI, MACD and CCI can also serve as trend indicators.
The indicators i mentioned are the most common ones.
Doesn't have to be more than that, just don't olla podrida the charts, gl....
TIP: never be afraid to use those indicators with your own common significance and logic. Doing a backtest will expropriate find a setup that works best for you.
Bitstorm | May 22, 2009
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