Forex indicators significantly simplify the process of making trading decisions for traders. They allow you to assess the situation in the market and identify the most likely points of the price reversal. However, in order to effectively use these tools, you need to know which one is best suited for a particular situation. So, Forex indicators are divided into two main groups:
Trend - show the direction of the trend and reflect its characteristics (stage, strength, etc.). The peculiarity of these tools is that they reflect the correct information only if there is a clear trend in the market. If the asset is in the consolidation stage (flat), it is better to use the oscillators.Oscillators - usually represent a chart, limited to overbought and oversold zones. When the price approaches one of these zones, the probability of a reversal increases, as the indicator shows. Oscillators are often called advanced tools, because they allow you to predict at what point you should expect the formation of a new trend.Any of the leading or trend indicators can be downloaded on the MTDownloads website and tested on a demo account in order to understand in the future how it behaves in different market situations. This will help to avoid mistakes during real trading.
Bitcoin does not cease to amaze with its untamed volatility. Already repeatedly, its price in just a few hours went up and fell by hundreds of dollars. It would seem that the traditional indicators are powerless against the unexpected jumps of the cryptocurrency. However, this is not so.
In fact, technical analysis tools such as Japanese candles, volume indicators, or a "trade blotter" help you to get around the seemingly unpredictable bitcoin market. Any of these tools can be downloaded for free on the MTDownloads website www.mtdownloads.com . For example, the appearance of a Japanese candle "Dodge" may become a signal of a reversal of the bitcoin price, and a decline in trading volumes testifies to a trend fading.
If you monitor the movement of the cryptocurrency price for a while, you can identify certain patterns in the reaction of the indicators and create your own effective strategy for bitcoin trading.
But, at the same time, do not forget that cryptocurrencies are one of the most risky assets, therefore, you should work with it very carefully and constantly follow the news of the cryptocurrency market.
The Metatrader trading platform has a lot of advantages and only one drawback: it recognizes only those programs that are written in MQL. Indicators and trading advisors that were created using any other programming language will simply not work in MT4 or MT5. This problem is successfully solved by compilers.
They are special programs that convert program codes into MQL. Download the suitable compiler you can on the platform MTDownloads. These tools are indispensable for traders who write trading robots themselves, but do not understand the MQL programming language. Also, compilers will be useful if you find an indicator that you can not integrate into Metatrader.
On the MTDownloads website, you can also download indicators and trading advisors that do not require compilation, which have repeatedly proven their effectiveness in Forex trading.
Any indicator gives an alternative way of presenting the curve of a price. Indicators of the analysis of prices for a certain number of periods in the past, on the basis of which a forecast for the future. This is a kind of an attempt to see the hidden chart prompts. Some of the most effective technical analysis indicators are the following: RSI, MACD, Bollinger Bands, Ichimoku, Parabolic, Moving Averages (MA), Stochastic, etc. For their calculation, a user takes only volume and price.
All of the generated signals are indicative. Thus, the analysis based on the indicators must be applied along with other market analysis tools. They serve to increase the signals’ reliability and the efficiency of the market. These technical indicators represent some average price, based on which you can make assumptions about the direction of price movements.
The Metatrader trading platform has a lot of advantages and only one drawback: it recognizes only those programs that are written in MQL. Indicators and trading advisors that were created using any other programming language will simply not work in MT4 or MT5. This problem is successfully solved by compilers.
They are special programs that convert program codes into MQL. Download the suitable compiler you can on the platform MTDownloads. These tools are indispensable for traders who write trading robots themselves, but do not understand the MQL programming language. Also, compilers will be useful if you find an indicator that you can not integrate into Metatrader.
On the MTDownloads website, you can also download indicators and trading advisors that do not require compilation, which have repeatedly proven their effectiveness in Forex trading.
