Best Forex Signal Indicator To Use
In today forex faq, we have a question asking me for the best forex signal indicator to recommend as well as an easy strategy that he can used.
Below is the question:
I’d like what is the Best Signal Indicator I can depend on it? Also I want an Easy Profitable Strategy I can follow?
I am not sure whether you are asking for a forex signal indicator to use in your trading or you are asking for a forex signal service that will give you an entry and exit signal.
However I will do both in this post.
For the forex signal indicator, I will strongly recommend the forex macd indicator. This is one reliable forex indicator that I must have on all my trading strategy. It has numerous features that you can utilize in your trading and therefore is one of the most recommended indicators from me.
Since you also ask for an easy profitable strategy, I will recommend you to use the macd indicator to trade the macd divergence strategy. This is one simple and easy to execute strategy that I will recommend any one of you to try. In fact, this is one strategy that I will recommend to any new traders.
The macd divergence is a leading indicator as it is able to give us a signal beforehand whether the price is going to reverse or not. This will allow you to enter a trade to profit from the reverse movement.
When you are in an uptrend and you see the formation of a macd negative divergence, you know that the price may be moving down soon. All you need to do is to enter a SHORT trade to trade the down move.
MACD Negative Divergence
It is formed when the price makes higher high while the macd indicator makes lower high.
Similarly when you see the price moving in a downtrend and you see the formation of a positive divergence, it is a sign that the price is going to move up. Then you can enter a LONG trade to profit from the up move.
MACD Positive Divergence
It is formed when the price makes lower low while the macd indicator makes higher low.
I must say that the macd divergence is a very reliable strategy. However the only problem is you will not get to trade everyday with this strategy as macd divergence do not appear everyday.
If you are simply looking to make profit every month and do not have the urge to trade everyday, this is one strategy that I will recommend you to try as it has a decent winning percentage as well as good risk reward ratio.
In fact, I have written a post some time back showing you how I trade the divergence strategy.
As for the forex signal service where you will be told when to enter and exit your trade. You can virtually get to see the real time trades that a real trader is taking and all you need is to follow his trades.
To find out more about this signal service, you can click on the link below.
I hope that I have answered all your question and if there is anything you want to add, do feel free to give your comment below as it will be very helpful for other traders here in this community.