Indicator for a novice trader

Despite the availability of modern internet trading, stock trading remains a rather complex undertaking.

And most newbies who try to open their first trades using only their assumptions and intuition quickly become convinced of this.

After unsuccessful attempts, you realize that to make a profit, you need to learn to predict the trend, and guessing is impossible. Indicators from a trader's trading platform are a great help in this regard.

It's true that it's quite difficult for a beginner to understand the wide variety of graphical constructions these indicators add to the chart, and even more difficult to make the right decision when opening a new trade.

That's why many newbies ask: Which indicator is best for a beginner trader?

The main principle when choosing your first indicator is its ease of use. Over the course of my time working in Forex, I've also developed my own list of favorite tools:

Stochastic Oscillator – I would say that this indicator was one of the first I installed on a currency pair chart:

I liked not only its ease of use, but also the effectiveness of the signals it provided; most of the trades opened with its help turned out to be profitable.

Another important point is that the Stochastic indicator is already installed by default in the MetaTrader trading platform. The indicator's description and operating principles are detailed here: https://time-forex.com/indikators/indikator-stohastik

Ultra Wizard – this indicator is recognized as one of the best technical tools for determining trends:

It is based on several popular indicators, which significantly increases its accuracy in determining the direction of the trend.

The script's results are visually displayed directly on the currency pair chart. However, to understand the Ultra Wizard indicator's operating principles, you'll need to read a short instruction manual - https://time-forex.com/indikators/ultra-wizard

Zoomer Pro is another ready-made solution that even a novice trader can handle:

The Zoomer Pro indicator is based on a moving average, but unlike the standard Moving Average indicator, it is more visual.

Therefore, the trader only needs to observe the color of the rectangles on the currency pair chart. The indicator itself and instructions for it can be found on the page - https://time-forex.com/indikators/zoomer-pro

Don't be afraid to use technical analysis indicators in your work; today, you can find a ton of scripts that even a Forex novice can easily understand.