Best Forex Indicator For Forex Traders Revealed
Forex 5-Minute Scalping Strategy 60 Sec Scalping - Pip Extraction Perfection
Best Forex Indicator For Forex Traders Revealed
By Kelvin Dee
When it comes to forex trading, having the best forex indicator on hand can be very useful for your trading. In fact, I have many readers of my blog asking me for the best forex indicators to recommend them. Therefore I am writing this article to share with you some of the indicators that I find is most reliable and useful for my trading:
1) 200 Exponential Moving Averages: The 200 EMA is voted the best forex indicator by a forex magazine among the 100 over different indicators in the trading land. If you take a look at your chart, you will find that the price will be repelled by the 200 EMA. Therefore the 200 EMA can serve as a strong level of support or resistance for traders to trade.
2) Moving Average Convergence Divergence (MACD): This is also one of the more reliable indicators that I have been using since my trading days. The MACD can be used as a indication and confirmation of a breakout and reversal. It can also be used to validate trend line break to avoid fake out.
3) Stochastic: The stochastic is a oscillator that can be used to signal entry and exit point of a trade. 
Whenever you get a oversold situation in an uptrend, you can confirm that it is a dip in a uptrend and it is when you should enter a trade. If you are in a downtrend, you should look for overbought situation as it can confirm that it is a rally in a downtrend.
4) Parabolic SAR: This is a simple indicator that can be used by anyone. This is a tool that is used by traders as a signal for entry and exit. If the dot is below the candle, it is a BUY signal and if the dot is above the candle, it is a SELL signal.
Basically, the above 4 indicators above are the ones that I often use in my trade. There are over a hundred different indicators in the trading land and it is impossible to use all of them together. So you need to pick a few that is more effective and put them to use in your trading.
To find out more about the best forex indicator [http://www.how-to-trade-currency.com/forex-indicators-what-are-the-best-forex-indicators.html] to use, you can visit Kelvin's blog for more detail. Kelvin is a Forex enthusiast and a full time Forex trader. His website offers simple yet powerful forex tips and strategies [http://www.how-to-trade-currency.com/forex-tips-you-must-bear-in-mind.html] to help other traders to make their 20 pips a day.
