I use the Moving Averages, Stochastic and ADX in my trading.
Im new to Forex, friend of mine pushed me into it, hes very successful im 19 so take me as a newbie.
I use the RSI and try to plan for what others are thinking and because I watched videos on dailyfx on how rsi works and two methods of trading it. Im wet behind the ears, don’t know much, who else uses RSI anything I may need to consider or study with that indicator.
When you trade using indicators, most traders will tell you that you want to trade in the direction of the trend, with momentum on your side you want to trade if possible at the beginning of a cycle (especially if the pair you’re trading is ranging) and you want to verify your trade plan with support and resistance lines (And if you’re smart you’ll verify the trade plan on 3 time frames.)
Other than that I find what indicators you use is personal. Everyone says no don’t use that one use this one it’s better to determine trends, momentum etc. Keep in mind there’s no guarantee what indicators or method you use will work every time. There are several different MT 4 indicators that determine: Trend, Momentum, Cycle, Support and Resistance Lines and another ton of custom indicators you can use to do the same thing. So search MT 4 Trend indicators, MT 4 Momentum Indicators etc and see which ones you like. utube has tons of video’s on mt 4 indicators and how to use them.
Has anyone tried MBFX non-repaint indicator.