What is an indicator in forex? What is the work and need of this indicator? Share your experience on forex trade!
Indicators are used for identifying, or even creating patterns from the chaos of the currency market. In all cases, they receive the raw market data as the basic input, and manipulate it in differing ways to create (as opposed to discover) actionable trading scenarios. The natural consequence of this description is that indicators are not tools of prediction. Instead, they are used to give order to the price data, so that it is possible to identify possible opportunities which can be exploited profitably by the trader. No indicator is right or wrong with respect to the signals that it emits, but each of them must be used with an appropriate money management strategy in order to deliver the desired results.
please check on dictionary what is "indicator"
Thank you Paul75! Regarding, The forex software seller is also an indicator as of providing the projected result..... Am i right?