The best indicators for forex trading strategies.

The rapid development of exchange trading through various trading terminals has opened up new horizons for the creation of various indicators. While previously a trader's toolkit consisted of no more than 20 indicators included in the terminal by default, hundreds can now be found online.

After visiting various stock market websites, you'll see for yourself that there are truly a huge number of indicators, and it's difficult to prioritize from this wide selection.

Our website is no exception, so we've decided to compile a simple ranking of the best indicators, all of which are free to download.

Each instrument described is intended for trading according to a specific trading strategy.

An indicator for opening trades during sideways movements.

As you probably already know, there are two stages of price movement in the market: a trend and a sideways (flat). Therefore, while an indicator may be profitable during a trend, it will usually simply wipe out your deposit during a sideways movement. Therefore, I'd like to start with an indicator that can show you the entry point during a sideways movement.

Of all the indicators we've described, the TRENDWAVE indicator . Its essence lies in its ability to show an entry point based on the intersection of its two signal lines. Trading with it is very simple, as it draws a point on the screen where you should enter a position. Remember that the indicator only generates good profits during flat periods.

This indicator is for trend-following trading.

All trading books unanimously recommend entering with the trend. In reality, trend-following trading is very simple: buy if you see an uptrend and sell if the market is trending down. It sounds simple, but in practice, many people struggle to determine the direction of the trend.

TREND MAGIC indicator deserves special attention . Unlike dozens of similar indicators, it performs its intended function perfectly.

The tool is based on two standard indicators, ATR and CCI, whose settings you can customize. It appears on the screen as two lines, blue and red. If the line is red, the trend is down, and if the line is blue, the trend is up. A change in the indicator line color is an excellent moment to enter a position following a newly formed trend.

This indicator is designed for scalping.

Scalping has become a very popular trading tactic lately. There are probably the largest number of indicators designed for this tactic, some of which are very simple, and some are easy to use even for beginners.

You can find a large number of scalping indicators on our website, but I'd especially like to highlight the " Forex Arrow Indicator ." It's a fairly simple tool for finding market entry points, as it draws an arrow when a signal occurs, indicating the direction to enter. The indicator is based on a moving average, and in my opinion, it's the best indicator for scalping in Forex trading.

It's also a tool for working with Japanese candlesticks.

Professional traders know that no indicator can indicate a potential market reversal as quickly as the price itself. In fact, many books have been written about candlestick analysis, as patterns have been around since time immemorial.

Of course, you can learn about candlestick analysis by going to the Japanese Candlesticks on our website, but to simplify your search for various patterns, the Candlestick Indicator . This tool finds candlestick combinations on the chart and displays their names, making it much easier to find them.

It also helps you set stop-loss and take-profit orders.

Many traders, including myself, have repeatedly encountered difficulties setting stop-loss and take-profit orders. Because traders exit positions too early and place stop-loss orders incorrectly, many have lost thousands of dollars. To solve this complex problem, I would recommend the DiNapoli indicator .

The tool draws horizontal levels, which you can use to set your stop loss and profit. Also, remember that a breakout of one of the levels is an excellent opportunity to either move your profit to the next level or enter a position.

In conclusion, I would like to say that all indicators proposed in this article are nothing more than the subjective opinion of the author, and not a direct guide for use in Forex trading.