MA, without a doubt! I always vote for simplicity and my 10+ years of trading in Forex market says that it’s always your best bet to stay away from complicated charts and indicators, that’s why MA is my go-on indicator always.
EMAs + RSI, so far it’s such good a combo to me. But I’m always wanting to improve my strategy, so who knows perhaps I’ll find some better indicator(s) in the future.
For a basic strategy I tend to recommend support and resistance and trade within range using the RSI indicator for confirmation of overbought / oversold for entry and exit signals.
Real price action obscures a clear view of where the market is going…
The RSI is labelled as on Overbought / Oversold Indicator… Those that have traded this feature have been left wanting as it can run along the 70/80 or 30/20 levels for prolonged periods of any particular time frame.
The only truly reliable Indication from this Indicator is strength and weakness… Hence it’s name Relative Strength Indicator… RSI above the 50 (Strong) or the RSI below the 50 (Weak)…
If you study the Candles (above and below) you’ll see above the 50 are Green and below the 50 are Red. If you were to open positions at the change of signal you’d have a few small losses and a few big wins…
It’s that simple… This gives clean easy signals for the change in trend of price action.
The MACD indicator is my absolute fave for trading! It’s like having a GPS for trends and momentum. Plus, it’s a signal powerhouse, offering a variety of trade signals. While I am exploring some new indicators, I’ll definitely share my insights once I’ve got a firm grip on them.
If I had to pick a favorite indicator, it would be EMA (Exponential Moving Average). It’s my go-to tool for spotting trends, measure the strength, and make trading decisions.
For me it’s EMA (Exponential Moving Avarage) cause it helps me clear out situation in the market and secount would be ATR (Avarage True Range) cause it helps me with setting my stop loss in more accurate positions
My favourite so far is multiple timeframe fractals. I use them to trade reversals at key levels. If a key level is broken its no longer a reversal but a continuation. I can still trade those. I’ve added a 24 period MA and the Alligator indicator for visuals to spot trends and consolidation quickly. A 20 period MA would still work instead of the 24 but the 24 is my preference. I can see why RSI is useful especially the RSI 9. I believe price action is king so I look for candle patterns at the key levels as well.