Top Forex Indicators - Download for Free
An important instrument to help analyzing the chart, forex technical indicators are somewhat a must to be learned when you first come into this business. Even though you may end up with strategies that don't involve any technical indicator, it's still a good practice to try out some indicators every now and then.
On the other side, for technical traders keen on utilizing indicators as best as possible, exploring various types of indicators can be a necessity. Common indicators provided in the MetaTrader setup are sometimes not enough, hence the search of alternative (hopefully more advanced) indicators from other sources.
For that particular reason, we have compiled a number of top forex indicators that you can't get from your MetaTrader's selection. Don't worry, everything is available for free. You only need to choose what kind of indicator that you want, and click the download button to get it for free.
What indicators combinations can you use to confirm signals?
Traders can consider combining various indicators, such as:
- MA Crossover and RSI
- Ichimoku Cloud and Fibonacci Retracements
- MA and Parabolic SAR
- Bollinger Bands and Stochastic
Continue Reading at How to Avoid False Signals in Forex?
It literally stands for Double Exponential Moving Average or Double EMA, known for its responsive nature to price movement. DEMA was first developed by Patrick Mulloy in 1994, when he introduced the indicator in the Technical Analysis of Stocks and Commodities magazine. He initially built DEMA to research a Moving Average that is less lagging and more active in finding opportunities. Later on, DEMA became competitive due to its fast and better response toward certain price movements compared to the traditional MA which was often too late to show entry signals.
Continue Reading at Best Trading Strategy with Double EMA (DEMA)
How to use RoC indicator for short-term trading?
- Select a pair, for example, GBP/USD.
- Determine a short-term time frame (M15 or M30).
- Use the RoC indicator with a period of 10 or 14.
- Wait until the RoC indicator shows a strong Buy or Sell signal.
- If RoC shows a strong decrease, you can open a Sell position on GBP/USD.
- Place a stop loss above the nearest resistance to limit losses.
- Set a profit target following your risk/reward ratio.
- Don't forget to monitor the positions.
Continue Reading at RoC Indicator for Short-term and Long-term Trading
How is RoC Indicator formulated?
ROC = [(Closing Price – Closing price N periods ago)/ Closing price N periods ago] x100
Where:
- Closing price = closing price of the last day or the most recent period.
- Closing price N periods ago = the closing price of how many periods back the current price is compared to.
Continue Reading at RoC Indicator for Short-term and Long-term Trading
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