Your forex best indicator

Hello, i know here many forex traders. Please share your best indicator and tell more info why its good.

At the beginning I recommend to test the free indicators that are available in MT4.

as a beginner trader my favorite indicator was Moving Average , i was profitable in demo with this trading indicator but when kicked off live it not worked greatly as like before.

Well there are many inbulit mt4 indicators which are available like macd,moving average,adx,rsi etc

and all of them are made and operated by taking PAST data into consideration.

these are further divided into two parts lagging and non lagging.

As for me my favourite indicator is my brain.

And even if someone chooses to use indicators to trade the markets its not what indicator they choose to use its how they use it that matters the most which makes all the difference.

If not past data, then what data should we use, future data?

How should someone use an indicator? Like a gauge to monitor one particular quality of price, as part of a more complete toolkit?

Pipbreaker is a simple Indicator, which works with MT4/MT5, it can be used for any type of trading and any type of counters/pairs.

Hi pips_boy,

For me the best indicator of all is wide bollinger bands.
This tells me if the asset is overbought or oversold with a high probability.
Try this configuration BB(MA=75,SD=3) and observe!

Regards!

Heh Thanks for starting this topic up for discussion.
I've been wanting to write up something I've discovered about Moving Average Indicators. This seems so silly to observe this at first but upon dwelling on it; these indicators can tell us an awful lot.
1. If one thinks about the perennial saying that some people see a glass as half full and some people see the same as half empty. That could also describe two types of traders; the first thinks they've found the "silver bullet" (aka "holy grail", I don't care for the term myself as the holy was in the holder of the grail, not the drinking vessel, application; "the trader is the best indicator" but I digress.) Anyway, the second trader sees no use at all for the MA.
2. Since it shows the average than you know that the current price level is half above and half below. (ponder this awhile)
3. The MA is, imho, the "drop dead" stunning indicator one should never be without. However, there is a caveat, it's use is in it's ability to measure average/time. It's also a worthless indicator. It's both and neither. What I'm trying to say here is, you should use the MA but only in it's proper Time Frame (TF).
4. If, you only use one MA it should be visualized on the Daily TF and the number should be 26. That's the number of "dates" it averages.
5. In any given TF one could usefully see the average price/time within that constantly recycling moment alone. The price itself of course is the same in all TFs, (I know, da-a-a-h,...!) but what story in any given time frame does that MA tell?

There is much more one can extrapolate from this concept; this obvious and even seemingly infantile observation, and I hate reading long posts, (you probably do as well) so I'll stop here for now. However, consider this, what would a MA of about 133 indicate on a 4HR TF, plus or minus a pip or three? Oh, and if you let that 26 day MA visualize also in the WEEKLY TF on the same chart; what would that indicate? Just some ammunition for thinking about.
Have a great day,
me

P.S. If you wish to disagree with me that's okay because I'm sure I'd at least half agree with you and this is only an average of an opinion. You'd be about, say, well,...about,... "half right'?!? Funny about an average

I would like to add my two cents to this thread.
I have not been on forexfactory as a contributor for many years as I have been busy
in my main occupation as a developer of trading strategies for some of my former employees hedge funds.
Together they manager a little under 100 BILLION in assets.
First, metatrader is not a good platform for the small retail trade. It stinks.
At the least, use Trade Station as a charting platform. They do NOT execute trades.
Set up a minimum account with Interactive Brokers. There you will have a chance, period.
The last year that I was active, with my previous, long dissolved fund (1989), we made $34,000,000.
If you must use only one indicator, it must NOT be lagging as is all moving averages.
Probably the best oscillator that has little lag is the Laguerre, but it must be modified.
See a webinar from Right Line Trading which gives some good examples. BUT, for forex, it
must not be stand alone. If it is the only one, then use multiple frames, but TIME is
also not a good idea. With metatrader you a hostage to time. With Trade Station you have
many other ways to show price. Unfortunately I am unable to say more because of NDA.

My indicator, i think ... good

Have you been away?
Cause if since 2006 you haven't found it yet,why would you thing that you'll find it now.?
Most case [if not all] of indicators,it would never guarantee where the price will go.that being said, it always came back to trader discretion.
So...in the end.it is not how good the indicator is but rather how good the trader is
If you still insist to find one go ahead.pretty sure it wont work until you find your 'ahaa!' moment

Basically, I use only moving average EMA 20 on my live trading chart; my major is PA.

Moving Average and ATR..

Stop looking for the magic "indicator" its right in front of you, its talking to you, sometimes SCREAMING at you and you just wont listen to him !!

The chart itself its the best indicator.. learn to read it, candle by candle and by group of candles (and im talking about OHLC, not the same crap you hear all the time about "price action" with no explanations)

Learn to read a chart the proper way its like learning a new language: english, spanish, russian, whatever.. its all about PRACTICE UNTIL YOU UNDERSTAND IT, only the ones that wants an indicator to tell them "enter here, exit here and you will never lose" are the ones thaat DONT WANT TO PUT THE EFFORT to learn this new language..

and that my friend its why you are always struggling with trading...

and you will never eva eva are going to make it in this game, as long as you dont put the effort for learning this new "language"


Period...

Hi. Most often I use MACD and RSI
Ichimoku is also interesting one

Two indicators from MT4 + indicator with arrows

looks like holygrail indicator...

SnR. 3 fractal tool. 1 candle delay. Big zones even in lower TFs. Perfect zones in range, very little fakes in big trends ( maybe 5 zones in 7000 pips trend and it have broken area strategy ).

PD: Not repaint. That is the most important thing...

Hey long time..glad to see you're well

M. Av and Bollinger Ba.Thanks and
Regards