Most Popular Forex Indicator In My Chart
I have people asking me which are the most popular indicator in my chart and therefore I decided to share with you guys this information today in this post. However I must say that what I use is based on my personal experience and strategy and do not represent the mass. What I think is the most popular indicator may be pretty useless in another person strategy.
Therefore you have to try out any indicator before using them in your real trading as what works for one strategy may not work for another.
Below are the most popular forex indicators in my trading chart
1) MACD Forex Indicator – This is by far my most popular indicator as it never failed to appear on any of my trading chart. Personally I find this indicator very reliable as it can be integrated into various different trading strategies.
In fact, I have written several articles on this MACD indicator and you can read them out in this blog. I bet that most of you will start to ask me about the setting for this indicator, the setting is based on default setting of 12, 26, 9. However I also trade with a Modified MACD on my chart as well which can help me to identify strong trend as well as when the price is going to reverse.
2) Slow Stochastic Indicator – This is another indicator that I love to use especially for my entry and exit. Similarly, I use this indicator with the default setting of 5, 3, 3. You can read more about how I make use of this indicator from the below blog post that I have written sometimes back. Similar to the Modified MACD, I also trade with a Modified Stochastic which has lesser noise and therefore can help me to get more precise entry.
3) 200 Exponential Moving Average – If you have been reading my blog, you will know that I love the 200 EMA as it is a very powerful support and resistance level. In fact, this 200 EMA has been voted as the most popular forex indicator by traders over the world in a trading magazine.
With the 200 EMA, you can tell the trend of the market and the strength of the market. At the same time, you can use it for entry and exit of your trading position as it is a strong level of support and resistance.
The above 3 indicators are my personal most popular indicators and I hope that you can share your most popular indicator with us by giving your comment below. This information will be very useful for fellow traders out here in this community.
In fact, I have created a course to share with you how I modified the MACD and Stochastic Indicators to increase my winning percentage for all my strategies. To find out more about them, you can click on the link below.