Trading without indicators.

There's a category of Forex traders who, for one reason or another, don't want to use technical analysis indicators. Some can't configure them, while others simply don't trust other people's scripts.

For these traders, indicator-free trading is just the ticket. It's just as effective as trading with technical tools, and in some cases, even superior in performance.

Indicator-free trading involves manually opening trades based on data obtained through technical and fundamental analysis.

While this may seem like a daunting task, it actually simplifies the entire trading process. Successful trading requires only logical thinking and access to information.

Data sources for analysis.

• The currency pair chart in your trader's terminal, by changing the scale and time frame, allows you to access a fairly long historical period of exchange rate movement.

• News feed and Forex calendar - the first talks about events that have already occurred, the second informs about planned news.

The process of trading without indicators.

• We determine the minimums and maximums of the price on the given and higher time interval.
• We draw a conclusion regarding where the price is at the moment, how close its position is to the minimum or maximum.
• We determine the direction of the trend and its dynamics, the magnitude and frequency of the correction.
• We analyze the events that caused the start of the trend and how long ago they occurred.
• We draw a conclusion about the current situation and the entry point into the market.

In practice, it looks like this.

Over the week, the minimum price value for the EUR/USD pair was 1.2500, and the maximum was 1.3000, at the moment the price is at 1.2550 and continues to rise. The reason for the growth was the message released an hour ago about the improvement of the economic situation in the European Union.

Based on this data, we can conclude about a fairly strong upward trend, we enter the market after the next correction, a buy transaction is opened.

This article presents one of the simplest options for trading without indicators. If desired, you can plot support and resistance lines, use candlestick analysis, or use a news trading strategy .