Using multiple Forex Indicators
In Forex trading , we could use our favorite forex indicator and then act exactly what this indicator tells us. The problem is that we do not just live in a perfect world, every Forex indicator has its weaknesses. This is the reason why many professional Forex traders use multiple Forex indicators. Example, you can use three different Forex indicators and only act when all three Forex indicator confirmed with their signals.
You can make back test the various Forex indicators, and find out which Forex indicator works best for you (of course only do this test you with a demo account and never with real money). We like to use MACD Moving Average Convergence Divergence, Stochastic Oscillator and RSI Relative Strength Index together, but maybe you can use other different Forex indicator combination. Every trader out there tried the make "magic combination" of indicators to find the right trading signals for their trading, but the truth is, this Forex indicator combination does not exist.
We encourage you to study each Forex indicator individually until you know exactly how they react with price movements. Then you can select a combination of indicators that suits with your Forex trading style. In the next article we will describe a system that utilizes various indicators.
other posts
- Indicator Candlestop
- Waddah Attar Adx X Bollinger
- Fibo Fan Fractal
- Martiagle
- Forex Trend Catcher Indicator
Forex is simple follow the trend and you will rich.
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