Indicators are use in forex to analyze the past and predict future prices trends and patterns. With the aid of indicators traders can be able to predict the market and identify trading opportunities. There somany indicators that one can master but most trader find it difficult to understand how to use these indicators. I watch a video online that help me to understand how to use these indicators effectively.
i just want to know how indicator can help a newbie trader?
Indicators can show you both useful entry points for new trades and, well, indicate, the overall trend. As such they can be very useful to all traders, not just newbies.
Try moving averages. Good for new and seasoned traders.
SMA 200 on daily charts is the basis of all
Good indicators given in the link provided, they are easy to understand and apply as explained in the articles there.
For instance the Triple screen system explained there is amazing, very easy to use and produces good results.
I have used the Triple screen system over and over again and has remained effective, yielding very good results.
I agree with you, moving averages are very good guide line in order to identify trend direction and its strength. There isn't any need to use too many indicators in order to trade. By this way, you can get too much confused.
One should always use indicators while trading. With my experience in trading, there are few indicators which are in my favourites list.
2. EMA (20, 50, 100 and 200)
3. Trend Lines
these indicators usually solve my analysis problems and help me to make my bets of buy and sell!!
I would also recommend Bollinger Bands, they're very helpful when you're trying to figure out support and resistance levels.
We can make use of any Technical Indicator that we may like but we have to remember that in many our our trades the results will depend on the correctness of the signals that we are getting from them
Yes I like indicators as a beginner mostly people do trading on technicals, these indicators are good for this purpose . Some indicators are awesome in their finding I did a lot of practice on popular indicators I feel they are really profitable. I choose best for me . I am not totally on indicators for trading I use my own analysis too for finding trend.