- This topic has 5 replies, 2 voices, and was last updated 6 years, 4 months ago by
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I have been trading for a year now and have been searching for an indicator i can depend upon to determine the trend direction. i thought it would be easy., but an oversight of this is making me loose money.
this is where i need the advice of more experienced traders here. what indicators are u using that i can also depend on? simple for me to master as well.
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It is always difficult to determine the trend. But an intergration of technical indicators that fit within your trading strategy could be helpful. Just keep it in mind that sometimes the simplest things work best.
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Am attending to free forex coach sessions and there is something i found that could be helpful to you aswel.
check out this link https://www.freeforexcoach.com/what-is-the-best-indicator-used-in-forex-trading/
it has guidelines about the best indicators you could
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this is the link here
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A strong signal on the daily chart can show you the direction of the market for the next several days, weeks or even months.
Also, price action in the daily charts is an ideal indicator for swings, especially the short-term ones that day traders look at to execute their strategies.
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To me i think the best indicators are the trend following indicators. For instance; a Moving Average, Parabolic SAR and Bollinger Bands. With these indicators you can easily tell whether the trend is moving up or down. It is also clear to see that the trend in getting in a congestion or it is about to change course. Normally when such scenarios happen, you are likely to see the indicator get close to the price movement or candlesticks or at times crosses over the candlesticks. When this happens, it gives a signal that you should actually open your eyes wide.
However you should not rely on them as confirmations because they are not 100% perfect. Depending on your trading strategy, there are certain things that your consider to generate confirmations for your trades. Follow your trading plan and choose an indicator that fits your strategy and easy for you to use.
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