Jump to content

What are the most profitable indicators on TradingView?


Recommended Posts

I use technical analysis, in the form of analyzing price action. Which is basically the study of recurring price patterns, and what effect they have on market participants. And from there, what effect they may be expected to have on market price. You can try Free Premium trading indicators as it will be best for everyone.

But I have never found any technical indicator which provides a quantifiable edge for entries, or any other part of implementing a trade.

Maybe a moving average to highlight trend, momentum etc, but entries, management and exits (and therefore the trade) are based on price action.

It is my belief, and my experience, that most traders have entirely the wrong concept and expectation of technical indicators.

Is it likely that indicators which are popular, and free on trading platforms, can provide an edge if everybody else is using the same thing in the same way? In my opinion, it is unlikely. If it was that simple, the large trading entities, the funds and institutions would be trading this way. Everybody would. An edge in trading needs to give you a viewpoint which is different from the majority.
Currency+Exchange+Rate?format=250w
As a simple, basic example, which I have given before, think of finding a price pattern which shows clearly that traders who took a rational, logical action yesterday are today trapped on the wrong side of the market. It is reasonable to expect that those traders will/must do something about their predicament. And it is then possible to envisage what action that might be. Now you have something that provides a higher probability of one thing happening than another.

That is a simple example of an edge which, if identified correctly, will play out in your favor over a large enough number of trades. All this may take place in the vicinity of a technical indicator, but the technical indicator is not the cause.
Link to post
Share on other sites

There are many reliable technical indicators. MACD, Moving Average, and Bollinger Band etc are few of them. I think the use of indicator is very important. Choose one, two or three indicators and learn the all aspects of those indicators. Test them on demo account. Do back test with them. And analysis the result. Not all the traders find all the indicators helpful. Some understand MACD more while others like Bollinger Band. So you have to find your own edge. For my trading I utilize Eurotrader broker since I like their useful resources like eBook and video instructional activities. They have Technical Analysis Tools with 50 indicators and charting tools 

Link to post
Share on other sites

Loosing money in forex market is a common matter. Most of the time it happens because of low knowledge about forex market. But sometimes it happens because of the assistant you have.  The broker you trust can be the cause of losses sometimes. So beside your high knowledge about forex market, it is mandatory to choose the best broker which can help you to reduce losses and gain profit. I am a trader with medium knowledge of forex. But In my trading, Forex4you helps me to take decision and helps me to choose the best option beyond emotion.
 

Link to post
Share on other sites

Trading is risky. That's why  Managing risk is very important for maximizing profit. I risk 2% of my capital for each trade. Similarly, the most silly introduction to risk is 4%. It proposes I open most crazy of 2 trades. I figure everyone should keep up their hazard association rules.

Without overseeing risk in trading entire arrangement achievement is farfetched. Choosing a good broker is also important. I am trading with Forex4you that provides amazing trading facilities. It's a fully licensed and regulated broker with super fast execution.
 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...