As the market changes and new trends develop, as well as the new methods and techniques to profit emerge, so do new Forex indicators. The traders adapt to new conditions faster than other market participants and note that the strategies that used to be working are not efficient anymore, while the indicator signals become less accurate. If earlier you could install a couple of indicators with basic settings and get good profit, now the benefit of the standard indicators has, first of all, reduced, and secondly, is noticeably inferior to the new adapted indicators. Thus, the variability inherent to the foreign exchange market creates a constant demand for new Forex indicators.
New Forex indicators are not just newly developed technical tools, but the optimized old ones as well. Nobody denies the usefulness of moving averages in determining the trend or the effectiveness of oscillators in periods of lateral movements’ developments. That's just their input parameters or, more simply, settings, that should have been reconsidered a long time ago. Basic indicators that are included, for example, in the Metatrader 4 terminal, were developed several decades ago, while both the stock and the currency markets were quite different. Now, all events take place at lightning speed, and speed and quick response to market could be decisive factors in making a profit, so new Forex indicators tend to have smaller building periods, in order to give the trader as much relevant information as possible.
Since the beginning of 2014, many good and profitable indicators have appeared. Now we will tell you about some of them, which in our opinion deserve the greatest attention and can be a great addition to your trading or even the basis for a new strategy.
The indicator for those, who like trend trading but miss trend start because of the lagging signals, stands first in line. TrendMagic indicator shows the current phase of the market: bullish or bearish. The indicator line color changes with the formation of a new trend.
Forex volumes have always been the weak point of the Metatrader trading platform. Better Volume indicator fundamentally changes this information. Now volume analysis is an efficient tool rather than a waste of time. The Better Volume Indicator allows the trader to determine the type of any movement and to tell the real pulse apart from a temporary pullback.
A well-known MACD indicator wasn’t left out in the cold by the traders either. A new and more optimized version called AO-Modern has become one of the most popular Forex indicators. Now the MACD indicator sparkles with new colors, and its functional become even more efficient after adding the AO indicator.
While on the subject of trend indicators, let’s pay attention to Triggerlines. It is based on moving averages, and many traders believe that it is the most efficient and reliable indicator. New settings and values of moving averages allow the trader to receive information on the end of the trend or the formation of a new trend faster than before.
The last indicator in our list would be X-Lines. This indicator has gained popularity mainly with the beginners. The indicator allows you to see the levels of support/resistance, and the X-Lines defines them quite accurately, thereby considerably facilitating trading.
This is not a complete list, because new Forex indicators appear almost every week. New and relevant tools are available online at discussion forums and websites devoted to trading.Social button for Joomla