The Forex market is a place of inconsistencies. Price fluctuations and volatilities are part and parcel of this arena and this is what investors look to ponder upon. Taking advantage of intricate price differences renders handsome profits to traders. But to aid you in this process, there are tools known as indicators. These indicators perform the job of alerting traders about any significant happening in the currency market. However, with each passing day, this market is developing. So, to counter new volatilities, a horde of new Forex indicators are coming up as well.
Getting to know them:
These new indicators serve the basic purpose of making you aware of profitable buying and selling positions. In addition to that they also perform a number of other functions. So, it is time to take a look at some of the new entries this season that strive to make a better journey for every investor.
a) LFX Order flow Indicator:
The primary task of this indicator is to track down orders in this currency market exchange. It does so by combining techniques and methodologies of order flow with the market trend; thereby brings to you live tracking updates at all time of the day. It renders these data as neat and clear visuals by plotting them on time-frame charts.
To sum up, this Forex new indicator performs two trivial functions.
• LFX creates or designs a pictorial representation of your order flow. It does so through an arrow indicator that tells you to change flow (green representing a buying possibility whereas red signifies a time to sell).
• Dot representation and shading appears to be another crucial function of this new indicator. On receiving a green signal, it plots a dot under the present candle and confirms flow continuation of the chart.
b) Psych Indicator:
Psych Indicator operates by tracking market psychology and embedding them on clear charts. It provides trading signals buy measuring percentage of short and long moves within a specific time-frame. A dominant and trending market is where this indicator works best. In other words, it favors aggressive and risk taking traders.
Experts consider it as one of the new Forex indicators and it performs the following functions.
• It tracks along the extreme as well as mid points of a specific market trend. These thresholds are marked by 80 and 20 which suggest possibilities of a trend reversal or in simple terms, counter-trend trading.
• Moreover, the arrow alerts help traders to identify potential bullish and bearish market trends. When a green arrow comes, investors look to go short, while a red arrow signifies time for indicators to go long.
c) Pin bar Indicator:
In addition to highlighting pin bar points on charts, it also provides a clear visual of stop losses, market entry points as well as reward targets. Pin bar is gaining rapid popularity as a new Forex indicator owing to its fully customizable interface and capability for high probabilities.
These above three indicators have become the topic of consideration this season. Their customizability and clear chart scripts has made each one of them promising new Forex indicators. So why the delay? Try them out now and give your trading career a new direction.
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.