Thread: Best Forex Trend Indicator

many Traders are looking for the Best Forex Trend Indicator. the following post is trying to answer the question What is the Best Forex Trend Indicator.

:If I had to pick the best trend indicator I would have to make a list because in my experience it is not wise to use only one indicator. But as for the first indicator I would use the exchange rate "price". Next would be my M.A.'s (moving averages) perferably the 10,20,50,and 200ema's. On a shorter time frame chart, such as, 5 min. or 1min. I use the 10,and 20 sma. I also use the average true range on a longer time frame (daily carts and up only) to get a sense of the trend. I will use ADX (average Directional Index) on my 4hr chart for intraday trend finding. Then I will use trend lines when I am unsure. Note if unsure don't trade. I use my 1 hr chart to get my entries, exits, and stops after finding a trend direction on my daily chart. Here I will also use the RSI (Relative Strength Index) to look for an entry when the price is overbought or oversold. I only trade in the direction of the trend. Then last my 15 min. intraday chart is used in conjunction with my 4hr chart for finding entries, exits, and stops. I will also use my Fibonacci's to get better entries on my 1 hr and 15min charts. If you are concerned about candle charts of course study about those if you would like to understand them more. That is about it for my trend indictors and placing trades. But one more recommendation is the Phsycological levels of 00, or 50.