Indicators are great tools that allow forming trading strategies and systems in Forex. They present an easy-to-understand visual form of what’s going on in the market (on the chart, actually) without requiring a trader to perform various rather difficult and time-consuming calculations. Modern trading platforms, like MetaTrader 4, allow traders to create their own indicators, but there are several popular standard indicators that are used by the online traders on any platform and with any broker. I prefer using the chart without indicators but occasionally, I add some of them to confirm my assumptions about the market. I prefer using the simple ones and I try to avoid those that I do not fully understand (like Ichimoku Kinko Hyo). And how about you?
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If you want to share your thoughts on using the standard chart indicators in Forex trading, please feel free to reply using the form below.
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