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22.08.2014 admin
Even most of forex indicators is lagging or delay to give signals but forex indicator like stochastic combined with convergence or divergence based macd is very accurate for scalpers. So, when we choose forex indicators we’ve to know first what about the function from forex indicators it self.
Lastly, how we used forex indicator is based on our trading strategy and our target pips, and remember choose forex indicator that have a good reputation on it.
Learn from my experience as a software developer creating Forex trading strategies and more For background, indicators are very helpful when trying to define a market state and make The best choice, in fact, is to rely on unpredictability. When two or more indicators provide identical information about prices, it hardly ever helps trading better; and while Forex traders call it "signal confirmation", it is in reality could be the same type of data, and should be called "duplication", rather than "confirmation". If you are randomly choosing indicators for technical analysis, chances are you’ll pick some with similar studies. Note that Momentum indicator, RSI and Ultimate Oscillator: all behave in a distinctive similar pattern. RSI is a momentum indicator, MACD – trend indicator and Volume belongs to Volume indicators. These simple rules of choosing the best set of indicators are used by experienced Forex traders for quality market research and trading.
Regarding the number of indicators to use at once, I'd suggest using no more than 3 at the time (excluding Moving averages, because often traders would use several moving averages for trend identification purposes). Indicators cannot predict sideways patterns in advance, because indicators only reflect the market as it behaves.

You can trade by signals from any indicators, but each time price approaches any of the Pivot levels, be sure to keep an eye on its reaction, but better off, take your profits out of the market at the Pivot Point or R1, R2, S1, S2 etc levels and wait for the next opportunity to trade with the signals received from your indicators. Use areas around Pivot points for setting stops, trailing or tightening stops, taking profits or scaling out of the market. The more indicators you use, the harder it'll be to find periods when all indicators agree on a signal.
If your current indicators contradict each other too often and don't allow you to make trades in weeks, while you notice that you're continuously missing perfect trading opportunities and trends, you have to change something. And most forex indicator only works on small time frame, so because of this many traders looking the best scalping forex indicator.
As soon as price moves away from Pivot lines, turn to your indicators for a signal to enter a trade again. For this purpose i am planning to use Stochastics Oscillator(default settings) for entry signals and ADX(default settings) for trend confirmation. One of best and simple forex indicator is moving average combined with ichimoku or bollinger bands combined it with zig zag. Tips from me : never use forex indicator more than 5 forex indicator it would be complicated. This means that indicators should deliver different type of information about the market and confirm each other rather than duplicate signals.
By setting up chosen indicators on a chart, you will be able to basically see a similar pattern of indicators behavior.

The key goal is to check them against the group they belong to and make sure you're not using indicators that tell the "same story".
Everything else is a matter of own preferences and education on Forex trading you're going to get. The middle line of the Bollinger band indicator is a Simple moving average by itself, other than that, I'd need you to give me some more details, please. But, the main point in how we use forex indicators is depending what type are we, is scalpers or swing traders. Example : If our target only 1-15pips of course we only need cross moving average with low periode on each line of moving average and waiting for a cross and take action based on convergence or divergence of MACD.
This is just simple way to practice about learning on how forex indicators works in reading the price of market. And lastly in my opinion candlestick it self is the best no repaint forex indicators and i’ve hope this article about forex indicator article can guide us in how to choose best forex indicator for us on getting wealth income.

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