What are your go to indicators for Forex trading? There are so many different ones out there, from the classics like RSI and MACD to the more obscure ones. Are there any indicators that you’ve found to be particularly effective? Or do you think they’re all just noise?
The best for what purpose?
For generating trade signals, they’re all useless for my style.
For analyzing charts, the simple moving average is by far the most useful, no other indicator comes close. It can show you trends, trend changes, trend strength, momentum and more in multiple time dimensions at once.
Have you heard about Bollinger bands and Fibonacci retracement?
Hellooo! Personally, I find the moving averages super useful (and beginner-friendly!!!). I think, depending on the time frame, it can also help you spot a good entry. But then again, this works for my own trading style and system. Do you also have a go-to indicator?
Yes i have… are you saying that these have proven effective for you?
as mentioned in my post … the good ol’ RSI and MACD
Take a wild guess…
wait… You have answered the question
Yes for some currency pairs.