In the field of forex trading, you will encounter hundreds of different forex indicators and it will be very hard for you to know which one is the best indicator for forex. In fact, the choice of the best forex indicator is very subjective and it depends on each individual trader.
However in this article, I will be sharing with you a forex indicator that I feel is the best for me and I hope that it can be of help to you in your trading.
The Moving Average Convergence Divergence (MACD) is my personal choice for the best indicator in forex trading and it is because it has several features that are built within it. You can use the MACD to tell the trend of the currency pair you are trading as well as identify the possible reversal of the market after it has been trending for some time.
What I love about it is its ability to confirm a trend line break or any breakouts. The problem most traders face in trading is the occurrence of fake outs and this problem can be minimize with the help of the MACD.
Depending on your trading style, you can adjust your MACD to make it more sensitive or less sensitive. Making it more sensitive will give you more trading opportunity but at the same time more false alarms. Therefore it all boils down to your trading style and habits.
The above is what I feel the best indicator for forex trading but it will be very risky for you to trade with only one indicator. I usually trade the MACD with other 2 indicators to give me better entry and exit. I hope that you will also benefit from MACD as much as I do and wish you all the best to your trading.
To learn more about how you can trade using forex macd indicator, simply visit Kelvin's blog for more information.
Kelvin's blog provides the best forex indicators guide online and has helped thousands of traders in their trading. Get to download "My Forex Trading Strategies" ebook that is written by Kelvin to help traders improve their trading.
Article Source: http://ping.fm/5MIWA
Super Scalping Indicator: http://ping.fm/IMoIE
The Best Indicator For Forex Trading
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