Requesting a huge favour

I am requesting a list of the most commonly used indicators and a short description of each, researching them is not easy as there seems to be millions-

I just want the say… 10 most common ones (or more if you are really bored) and a single sentence describing its function.

Something I can pin up on the side of my pc :smiley:

Any responses would be greatly appreciated.

May helpful posters recieve a million pips each daily for at least a month.

Support/Resistance - Lines where price is likely to find weakness. It’s a self-fulfilling prophecy.

Price Action - The best indicator in the world.

Everything else…

Wait… there was more?


EMAs (additionally, EMA-based Bollinger Bands) - I kind of like these. Simple and intuitive. It’s laggy, but that doesn’t matter to me because I don’t use them as entry signals.

Hi Drew

MT4 help section has a description of a lot of indicators. lease remember that Indicators use historical data and in no way gaurantee that the future will react the same way. It is thought by a number of traders that the best indicator is Price Action (PA) and I would humbly suggest that you study that first

Maybe someone could shed some more light on Price Action i did some research but wasn’t impressed with anything i found? if i could get some links or anything to better explain this that would be great. Thanks

Studying candlestick patterns is a good start.

Google "leading forex indicators"
Leading as in not lagging.

Personally I don,t understand price action, candels, s and r levels, although they are the most popular ways of trading.

I think that another member here said “look for a bargain”, not bad advice.
Can’t remember who said it, I think it was Mr “trend is an illusion”

isnt mr “trend is an illusion” banned? lol or is that someone else. anyways
main indicators are S/R levels, fib levels pivot levels, and MAs all pretty self explanatory

Agreeing with mastergunner, start small by learning the reversal candlesticks (hammers/shooting stars, engulfing patterns, evening/morning stars, dark cloud/piercing, haramis, etc). You should have a knowledge on why hammers signal reversal (what price does that makes you believe a hammer should be a turning point).

Steve Nison has some books and various DVDs on candlesticks that you might want to look at.

You can, then, work up to bigger candle formations: double tops, candle formations, even elliot wave, if you so choose.