The challenge is to combine indicators in a smart way. This means that indicators should deliver different type of information about the market and confirm each other rather than duplicate signals. Forex traders call it “signal confirmation”, it is in reality could be the same type of data, and should be called “duplication”, rather than “confirmation”. To control the situation traders need to choose only useful primary tools in order to forex indicators information overflow.
Especially if you are a novice trader, we’d like to suggest you two most popular and widely used indicators to start planning your trades with. The third place goes to MACD. However, it’s not a secret that to many traders Elliott waves theory is one the most difficult studies whether it comes to understanding, using it or following someone’s forecast. Choose “Save as” or “Save link as” to download the indicator. MACD historam staying above zero line — market is bullish, below — bearish. MACD histogram flipping over zero line — confirmation of a strength of a current trend.