What are the top 5 most consistent and widely used indicators on the forex?
Looking for an savvy or cited answer as to what the most consistent and extremely used indicators are for the forex markets, and what the most popular outdated frame is. I usually trade the 1 hour, but I'm not stable if that is best or not.
here's a above-board forward answer:
- at least the 1hr chart, the larger the timeframe the more credible signals become because it holds more (economic or not) low-down. 4hr and daily charts are also popular...
- The indicators: try to keep your upbraid off of mechanical systems since the market is an organic development. Price is the ultimate indicator and moves in waves but nonetheless in a rule. You therefore need indicators that approach the organic primitiveness 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 pay no attention to that oscillators such as RSI, MACD and CCI can also serve as inclination indicators.
The indicators i mentioned are the most popular ones.
Doesn't have to be more than that, honest don't clutter the charts, gl....
TIP: never be afraid to use those indicators with your own run-of-the-mill sense and logic. Doing a backtest will steal find a setup that works best for you.
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