What are good MT4 indicators for beginners?
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  1. #1
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    Jul 2010
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    Default What are good MT4 indicators for beginners?

    What are good MT4 indicators for beginners? Thanks.

  2. #2
    Join Date
    Jul 2011
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    depends on your personal style. no indicator will be the 'holy grail' or something that will just automatically make you income. some people like EMAs or SMAs. Others like to use that with Stochtastics or CCI or other oscillators. It depends what it accomplishes in your system and how you use them that is most important.

  3. #3
    moving average + stoch and rsi is better indicator for me

  4. #4
    Join Date
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    Don't use indicators, they will just confuse you, look at price action, i.e. consolidation, patterns, channels, support and resistance.

  5. #5
    Join Date
    Jul 2010
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    I know some people dont like indicators, and some people rely on them too much instead of analyzing the market themselves.

    I understand moving average, its quite obvious, but what is Stoch showing? I think Stoch is showing how it "thinks" the market is being oversold or undersold. Is that correct?

    Also purple what do you mean consolidation and channels? I understand Support and Resistance. And patterns I guess refers to trends?

    Thanks guys.

  6. #6
    Join Date
    Mar 2017
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    I tried to use Moving Average, I think, it is the simplest one for beginners. But I`m not really sure, that it is useful. It helps to identify trend direction, but actially, it is well-seen in most cases without any indicators.
    Anyway, most experinced traders say, that using of indicators is not really helpful and reliable. It`s better pratice and soon, you`ll be able to predict chart movemet without any indicators

  7. #7
    Surely, you can start with moving average trading indicator, this is one of the most popular default trading indicator! The main advantage of using MA is, it shows dynamic support and resistant levels perfectly! But honestly, all of default trading indicators are useful and you need to analysis on technical tools with proper dedication! Whatever, indicators are useful for clarifying your trading entry point, don’t try to rely on only technical tool either its default or custom indicator!

  8. #8
    Join Date
    Feb 2016
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    132
    As you are a beginner, you can start learning MT5 platform as it is the evolution of MT4. The indicators that I am using is the RSI indicator as the signals that gives are clear. Also, MACD and stochastic oscillator are very useful to identify the trend.

  9. #9
    Join Date
    Aug 2015
    Posts
    112
    I think the best indicator for a newbie will be MA. It helps to see and correctly identify the trend, and it also shows whether the price is at the mark above the average mark or below it. Very good indicator, but it's important to tune it correctly, but it works well on default settings too.

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