In today forex faq, we have an interesting question from one of our fellow traders.
Below is the question:
What are the worst indicators that you won’t recommend to anybody?
When setting up this blog, I am planning to write posts showing traders how to use various indicators in their trading. I have been talking about forex indicators that I find useful and will recommend to you guys.
So far, I have not talked about those that I will not recommend you guys to use. In fact, all forex indicators are useful in one way or another. This is because some of them works well in ranging market while some works well in trending market.
Therefore all forex indicators are equally good but it depends on when you are using them. There tend to be some misunderstanding among new traders that some indicators only work on specific time frames and they work differently on different time frames.
First of all, I will like to clear this misunderstanding among new traders that some forex indicators only for specific time frame. This is totally not true, all the indicators work equally well on different time frames. Their performance does not vary with time frames, they vary with different strategy.
Below are those that works well for Trending Market
Below are those that works well for Ranging Market
I hope that you have a better understanding of forex indicators now and do feel free to give your comment below if you have any question or anything to share with us.