A strategy never forms with a single indicator. There always has to be a combination. And when speaking of such combinations, there are some which work really well in tandem, and henceforth, traders regard it as Forex Winners indicators. This post will elaborate on some of those popular and effective combinations.
But before that, here’s what you need to be clear of first up:
When one discusses Forex winning indicators, there are no such tools which come with 100% profit guarantee. Experts believe that more than the efficiency of an indicator, the trading skills play a more important role. If he/she is able to make good use of the data present in front them, then there is no reason for losses.
As with that out of the way, let’s get back to our Forex Winners indicators.
Average Trend Range and Strike:
Strike Indicator works great for determining Trade Entry as well as existing market trend. It aids traders in spotting where the market is witnessing a pull back and where chances are of a trend continuation.
When you combine it with Average Trend Range, which is itself a good trade Exit and market momentum indicator, you have a real Forex Winner strategy. Simplification in trade, interpretation of Entry and Exit points & comprehensive analysis of the market- you basically have all the ticks in the boxes.
Fractals and Awesome Oscillator:
This is another great Forex Winner Indicator combination which you can think about using. Awesome oscillator aids in examining trends by checking the positioning of histogram bars. Traders can get indications of the trend strength by gauging at the distance of the histogram bar from the 0 line.
Fractals, on the other hand, present a lucid idea of Support and Resistance and crucial breakout Entry points! Again with know-hows on momentum, trend and breakout trading points, you will find this combination serving ample utility.
Moving Average and Fibonacci:
One of the most widespread indicator combinations which one can put to use is this one. Fibonacci presents a clear idea on Support and Resistance points and also adequate trade entry and exit points. And Moving Average aids in finding trend patterns and where the momentum of the market is heading.
One great thing about Moving Average is that one does not need to plot it or adjust its levels as per new bar formations. Plus traders can also use it for recognizing consolidation formations through its flat angle indication.
So there you have it, some real Forex winning indicator combinations which you as a newbie can bring into.
Testing it out with a practice account:
Another reason why experts consider these Forex Winners Indicators combination so good is because of its accuracy. Just find out a reliable broker offering MT4, sign up for its demo account and use these superb strategies to the test. When it is put to real time testing; you will have a clear idea of how it works in actuality and which one among them is adequate as per your trading requirements.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.