FX Delta 2020 Review 5 Reasons Why This Indicator is Worth Your Money

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TOP 100 best indicators: post good indicators here

I will make a list: top 100 best indicators.

So please upload good indicators in this thread.

Good indicators are considered:
– stimulating your perspective in the market
– any trader should know about and should have seen at least once
– getting inspiration for your own system
– (naturally, I don’t consider a good indicator: profitable in trading. The purpose of this thread is solely increasing our mindset and depth in the market by applying different kind of indicators.)

___________________________________________
List of good indicators:
___________________________________________

  1. Elliot Wave indicator: EW_ABCD_PRO_fix.ex4. Details: complete trade manager, additional windows: correlations, fib level division, multiple methods, TF switcher, currency pair ‘wave count’ check. https://www.forexfactory.com/showthr. 0#post11262540
  2. Floating indicator 1.01.ex4. Details: choose an indicator, press ok. Now it is floating on the chart
  3. TF Heiken Ashi Arrows.mq4https://www.forexfactory.com/showthr. 6#post11092596

___________________________________________
List of great websites to download indicators
___________________________________________

Thread: This indicator works 95% of the time

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This indicator works 95% of the time

This indicator is known as the Tom Demark Project which deals on how to trade with the price action indicator called trendline and to tell you what I have tried this indicator and it works most of the time with 4 hour time frame.

I especially use it with EUR/JPY because it works better with volatile currency pairs.

Here is the download link for the ebook for better understanding and also a link to download the MT4 indicator

The Following User Says Thank You to berich For This Useful Post:

I’m still confused when reading how to trade in this way. Can anyone help? Please explain further so that we all understand, because I’m new. thank you.

in other words, is this indicator providing with support and resistance levels? i just opened up the first link and i see a pdf file explaining the use of the indicator and it appears that this indicator is drawing support and resistance lines with other trend lines. i’m just wondering how is this different compared to me drawing the lines? sure the process is automated now, but i don’t find it quite useful. if it is not drawing these lines, then what exactly does this indicator do? can you please provide an explanation rather than just directing us to these other sites especially when the site takes quite a while to load.

First of all I would like to apologise if the site is slow to load. The reason for this trend line is that it shows us how to draw the trend line properly because not everybody can correctly draw a trendline and it also helps us to know how many pips we would be expecting from each trend breakout.

I would try uploading the softwares into another link.

Last edited by berich; 11-24-2020 at 12:52 PM .

The Following User Says Thank You to berich For This Useful Post:

Although you have used dropbox to give us something, I must thank your effort. Drop box might not work for all of them since many of us do not have an account with drop box. However, every sharing should be appreciated.

Ok so only you can use this one on the eur/jpy what if i might use this indicator in the Gold will it still work for me ?? coz i am more of the trader in the Gold so i dont know if it might work in the Gold please suggest .

Are you sure that this strategy will work about 95% time? Cause every expert of this forum says that it is hard to even get a indicator with 90% success rate. Anyway I will try this strategy and indicator for some days and then share my experience here.

It’s a very interesting method. Many time I’ve used some similar way, to guess my trades, with usually regular success.
I’ll take a look to this indi to see how it works.
Depending on the results, I’ll share with you my experiences.

looks like a good strategy but trading with this strategy is not quite risky well would you tell us from how much time you are using this strategy and whats the profit ration and well what to do with other pairs. thanx

There are many fake indicator when you buy them they might say to you it might work 95 percent but look the best indicator of the world is ichimoku kinko hyo and the accuracy is 80 % so your indicator 95 ?? why than many not use this ??

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Forex Technical Indicators: Why They Are Crucial to Your Trading Success

Forex offers you a great way to get returns on your investment. However you need to really understand what you are doing because the market can change at any moment and you can lose out badly. There are many factors that can bog your trading experience if you do not prepare adequately. This is the main reason why people open an account and are penniless in a matter of days.

When you trade Forex, you should never allow your emotions lead you on towards taking a decision. You have to learn how to keep your emotions in check if you want to profit from the FX market.

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The world of Forex is highly volatile. This is why trading based on gut feelings, intuition or instinct is never a smart move. This is why you need to find a means of assessing the market. Any option which you choose should not involve using sentiments or emotions to make a call.

One of the ways that you can achieve this is by using unique tools called Forex indicators. These technical indicators help you decide in which direction the market is trending. Some will also tell you the strength of the market or if the market would rise or dip in future.

However, you should realize that these Forex indicators are not 100% fool proof. They are not always correct. You can use search engines to find technical indicators that best suit your trading style. When you use these indicators, it helps take out emotional judgment out of the picture. You can see this based on the trend that the market may swing in one direction or the other.

A trend is what every trader should be on the lookout for. It can be a trend that stops abruptly thereby activating a stop-loss or a signal that prices would break and continue upwards. Whatever the case might be, technical indicators help you decide whether you win or lose.

If you want to confirm the authenticity of a trend by using your own Forex strategy, you need to use your Forex technical indicators. This helps to tell you how long a trend would be sustained and if it would change direction anytime soon. In order to develop profitable trading strategy of your own, you need to test different strategies you can find all over the Internet.

This is where your demo account kicks in as it serves as a test field without the risk of losing your money. Apply different strategies and pick the best part out of each of them. Apply various indicators and see which one works the best.

If you want to focus on an emerging trend, you need to draw trend lines that encompass weekly daily and monthly charts. Once you do this, ensure that you create shorter ones on a 1-hour and 4-hour basis. If you do this, you can monitor trends more effectively and not be taken unawares when the market moves suddenly or even sideways.

If you want to get news of the most recent updates to our guides or anything else related to Forex trading, you can subscribe to our monthly newsletter.

Technical indicators every trader should know

Success comes from knowledge – this is true for most things in life and especially Forex trading. To become successful, a trader needs to learn technical analysis. Technical indicators are a big part of technical analysis.

The problem is that, at first sight, names of technical indicators can sound unpleasantly complicated, for example, MACD, RSI or Stochastic. However, we recommend you not to judge a book by its cover. We will provide you with a fair and simple explanation of the most popular technical indicators. We guarantee that you will understand how to use them. Are you interested? Let’s start then!

Do technical indicators actually work?

We trade to get a positive result or, in other words, profit. Many beginner traders are eager to know whether technical indicators are able to give them good trading signals.

The truth is that technical indicators won’t automatically lead you to profit, but they will do a lot of work for you. There are no doubts that a skillful and experienced trader can achieve profit without indicators, but they can still help a lot.

In fact, technical indicators can do a few wonderful things:

  • show something that is not obvious;
  • help to find a trade idea;
  • save time for market analysis.

Every technical indicator is based on a mathematical formula. These formulas make fast calculations of various price parameters and then visualize the result on the chart. You don’t need to calculate anything yourself: just go to MetaTrader menu, click on “Insert” and then choose an indicator you would like to add to the chart.

At the same time, technical indicators make their calculations only on the basis of a price – the currency quotes, which are reordered in the trading software. As a result, indicators do have weak spots: they can give signals which lag behind the price (for example, the price has already fallen when the indicator finally gives a signal to sell).

The good news is that there are ways to get a lot of benefits from technical indicators. We are going to explain how to do it in the paragraph that follows.

The best technical indicators for Forex traders

Technical indicators are divided into several groups depending on their purpose. As purposes of the indicators are different, a trader needs not one, but a combination of several indicators to open a trade. In this article, we will tell about the 3 most popular technical indicators.

1. Moving Average – an indicator to identify the trend

Moving Average (MA) is a trend indicator. It helps to identify and follow the trend.

Technical principle: MA shows an average value of a price over a chosen time period.

In simple terms: Moving Average follows the price. This line helps to smooth the price volatility and get rid of the unwanted price “noise”, so that you focus on the main trend and not on corrections. It is necessary to understand that this indicator does not predict the future price, but outlines the current direction of the market.

Advantages of Moving Average:

  • identifies a direction of a trend;
  • finds trend reversals;
  • shows potential support and resistance levels.

Disadvantages of Moving Average:

  • lags behind the current price (will change more slowly than the price chart because the indicator is based on the past prices).

Tips:

  • There are 4 types of the Moving Averages – simple, exponential, linear weighted and smoothed. The difference between them is merely technical (how much weight is assigned to the latest data). We recommend you to use Simple Moving Average as most traders use this line.
  • The most popular time periods for MA are 200, 100, 50 and 20. 200-period MA may help to analyze a long-term “historical” trend, while the 20-period MA – to follow a short-term trend.

How to interpret

In short, a trend is bullish when the price of a currency pair is above the MA and bearish – when the price falls below. In addition, note how Moving Averages with different periods behave towards each other.

Upward bias is confirmed when a shorter-term MA (e.g. 50-period) rises above the longer-term MA (e.g. 100-period). And vice versa, a downward bias is confirmed when a shorter-term MA goes below the longer-term MA.

Conclusion

Moving Average shows whether to buy or sell a currency pair (buy in an uptrend, sell in a downtrend). MA won’t tell you at what level to open your trade (for that you’ll need other indicators). As a result, applying a trend indicator should be among the first steps of your technical analysis.

2. Bollinger Bands – an indicator to measure volatility

Bollinger Bands helps to measure market volatility (i.e. the degree of variation of a trading price).

Technical principle: Bollinger Bands consist of 3 lines. Each line (band) is an MA. The middle band is usually a 20-period SMA. It identifies trend direction – just like the MAs described above do. Upper and lower bands (or “volatility” bands) are shifted by two standard deviations above and below the middle band.

In simple terms: Bollinger Bands indicator puts the price in a kind of box between the two outside lines. The price is constantly revolving around the middle line. It can go and test levels beyond the outside lines, but only for a short period of time and it won’t be able to get far away. After such deviation from the center, the price will have to return back to the middle. You can also notice that during some periods of time Bollinger lines come closer together, while during other periods of time they spread and the range becomes wider. The narrower the range, the lower is market volatility and, vice versa, the bands widen when the market becomes more volatile.

Advantages of Bollinger Bands:

  • The indicator is actually great in a sideways market (when a currency pair is trading in a range). In this case, the lines of the indicator can be used as support and resistance levels, where traders can open their positions.

Disadvantages of Bollinger Bands:

  • During a strong trend, the price can spend a long time at one Bollinger line and not go to the opposite one. As a result, we don’t recommend Bollinger Bands for trending markets.

How to interpret

The closer the price approaches the upper band, the more overbought the currency pair becomes. To put it simply, by this time buyers have already made money on the advance of the price and close their trade to take profit. The result is that the overbought pair stops rising and turns down. The price’s rise above the upper band may be a selling signal, while a decline below the lower band – a buying signal.

The outer bands automatically widen when volatility increases and narrow when volatility decreases. High and low volatility periods usually follow each other, so the narrowing of the bands often means that the volatility is about to increase sharply.

Tips:

  • We don’t recommend to use Bollinger Bands without confirmation from other indicators/technical tools. Bollinger bands go well with candlestick patterns, trendlines, and other price actions signals.

Conclusion

Bollinger Bands work best when the market is not trending. This indicator can be a great basis for a trading system, but it alone is not enough: you’ll need to use other tools as well.

3. MACD – an indicator that shows the phase of the market

MACD (Moving Average Convergence/Divergence) measures the driving force behind the market. It shows when the market gets tired of moving in one direction and needs a rest (correction).

Technical principle: MACD histogram is the difference between a 26-period and 12-period exponential moving averages (EMA). It also includes a signal line (9-period moving average).

In simple terms: MACD is based on moving averages, but it involves some other formulas as well, so it belongs to a type of technical indicators known oscillators. Oscillators are shown in separate boxes below the price chart. After an oscillator rises to high levels, it has to turn back down. Usually so does the price chart. The difference is that while MACD needs to return close to 0 or lower, the price’s decline will likely be smaller. This is how MACD “predicts” the turns in price.

How to interpret

  1. Dramatic Rise/Fall. Sell when histogram bars start declining after a big advance. Buy when histogram bars start growing after a big decline.
  2. Crossovers between the histogram and the signal line can make market entries more precise. Buy when the MACD-histogram rises above the signal line. Sell when the MACD-histogram falls below the signal line.
  3. Zero line as additional confirmation. When MACD crosses the zero line, it also shows the strength of bulls or bears. Buy when the MACD-histogram rises above 0. Sell when the MACD-histogram falls below 0. Note though, that such signals are weaker than the previous ones.
  4. Divergence. If a price rises and a MACD falls, it means that the advance of the price is not confirmed by the indicator and the rally is about to end. On the contrary, if a price falls and MACD rises, a bullish turn in the near-term.

Tips

  • Crossovers between the histogram and the signal line are the best signal from MACD.
  • Hunt for divergences between MACD and the price: it’s a good indication of an upcoming correction.

Advantages of MACD:

  • MACD can be used both trending or ranging markets.
  • If you understood MACD, it will be easy for you to learn how other oscillators work: the principle is quite similar.

Disadvantages of MACD:

  • The indicator lags behind the price chart, so some signals come late and are not followed by the strong move of the market.

Conclusion

It’s good to have MACD on your chart as it measures both trend and momentum. It can be a strong part of a trading system, although we don’t recommend to make trading decisions based only on this indicator.

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