New Forex Indicators 2015
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New Forex Indicators
In the world of currency trading, a great indicator alongside a solid trading plan can prove all the difference between being consistently profitable or falling flat. So read on as we pick out our four must-have Forex indicators for 2015, and explain just why you should be using them every day of your trading life. In no particular order, we start with 1.
Best Forex Indicators
Psych Indicator What It Does • Displays neat visual aid on your charts • Tracks market psychology to give clear trading signals • Measures percentages longs/shorts in a given period • Seeks to align with dominant market trend Best Thing About It • Trades against retail sentiment and trades in line with Banks and smart-money flow. • Fantastic trend trading system • Can be used on all timeframes • Easy to understand, clear signals • Works extremely well with other indicators to improve entries or even with basic candlestick patterns What It Looks Like Above we can see an example of the Psych Indicator applied to a candlestick price chart. The indicator has two key elements to it: • Firstly, the oscillator in the bottom panel, this oscillator is a pictorial representation of the extremes and mid points of the market psychology. Readings above 80 and below 20 suggest extremes in market participants psychology and suggest the potential for a turning point in the price action. • Secondly, the arrow alerts that appear on the chart, these arrows suggest a psychological pattern that gives a high probability of price action to follow the candle that the arrow prints above or below.
Best Free Forex Indicators
So when a green arrow prints we anticipate bullish price action to follow and when a red arrow prints we anticipate a bearish price action to follow. Video – More Info 2. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.