Most Popular Forex Indicator In My Chart
May 19, 2011 by Kelvin
Filed under Forex Indicator
I have people asking me which are the most popular forex 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 forex 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 forex 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.
Forex MACD Indicator
In fact, I have written several articles on this MACD forex 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.
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.
Forex Stochastic Indicator
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.
200 EMA Indicator
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 forex indicator and I hope that you can share your most popular forex indicator with us by giving your comment below. This information will be very useful for fellow traders out here in this community.
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i am 18 years old, want to start playing forex, which indicator is the most simplest and recomended to beginers like me ?
Kelvin,
Your settings for the Stochastics indicator are absolutely perfect. I realize there are no perfect indicators (supposedly) but when using the full/slow Stochastics w/your 5,3,3 settings in conjunction with a 10 and 30 day moving average…WOW!!!!!!!! I have been tinkering with indicators and settings for about 3 months now and yours is the cats meow. Thank YOU very, very much.
Hi Randy
I am glad that you find it useful for you. Do feel free to share with us any trading information by giving your valuable comment.
Kelvin,
I was wondering if these indicators you use is for long term trend trading or daytrading? By you using the 200EMA, I would assume it is not for dayrading or scalping. Thank you.
Van
Hi Van
All my indicators can be used in long term and day trading. If you are going for long term trade, you will plot them on the higher time frame like the daily, weekly chart. If you are planning to trade intraday, you can plot them on the 15 min, hourly and 4 hourly chart.
Thank you Kelvin.