Looking for reliable indicators!

Beginner Questions
1

i’m newbie in forex, i need suggestions regarding the reliable indicators,
can anyone tell me, what indicators are reliable, yet suitable and simple to used by newbie? Thank you… :slight_smile:

2

Best I know of…

3

price action

4

Indicators in my view only serve the purpose of summarising what you see on your chart, so depending on which strategy you are employing, if you need an indicator, choose the one that gives you the summary you require.

5

Thumbs up!

Purplepatchforex, my friend nobody will tell you here a secret how to be rich. Such information you have to find yourself that will the best way.

6

Now this is where you are a little bit wrong here, I have the information, I have the ‘secrets’ and I’m doing my darnedest to share the best of it in the most useful way, with anyone who wants to take notice.

8

try to trade with out them, if you can learn to trade off price alone you will feel great not needing to have to rely on them. There’s no magic indicator they all work under certain market circumstances and fail on others.

I use Ichimoku to determine trend and price action to determine entries.

TJFX

9

yeps, the eye’s have it! I’m new to this as well, here’s what I’ve found works for me. Remember tho, everyone is different, has a different style and different goals. Find what works for you! I like short term trades, so I want quick quick!
Likes

  • candlestick patterns (price action)
  • pivot points
  • ONE longer term trend line
  • 26 period EMA as a dynamic trend line

using MACD to watch for convergence/divergence with price trend (ie price trending down, MACD trending up or vice versa) but not 100% sure on this yet.

Don’t like

  • a cluttered chart
  • too many indicators - after trying at least 20-30 of them, they are ALL lagging, behind the action! By the time you see one indicator saying buy and get the confirmation with one or two more indicators, it’s too late. UNLESS, it seems, you are trading long term on the daily chart only.

Here’s an MT4 candlestick indicator - it’s pretty good, but I don’t rely on this… I also use my own understanding of price action and candlestick patterns.