How many indicators do you need?

[dianajs]

I learned early on that having too many indicators in a single chart was a bad idea. It depends on the invididual how many indicators they are comfortable with using, but I would recommend spacing them out in different charts at the very least.

 

[hitfx]

Yeah mate, it is all about what you think and feel about the charts. If any individual is feeling good by having many indicators on charts and it helps him finding good trade setups then it is good for him to use many indicators.

 

[EURUSD]

Using too many indicator only causing confused how to use, in my opinion better only focus use one or two indicator as help tool, because indicator not always will giving true signal, and risk management always important for trader.

Now I am trying to analyze the market use naked trading analysis based on price action combine with candlestick pattern.

 

[downtrend]

A maximum of 3 indicators and those also the simplest ones available on Mt4 platform. Don't confuse yourself by using too many indicators on your forex chart.

 

[ForexVerified]

A maximum of 3 indicators and those also the simplest ones available on Mt4 platform. Don't confuse yourself by using too many indicators on your forex chart.

True, otherwise you'd get so many conflicting signals that you won't be able to trade.

 

[dianajs]

Using too many indicator only causing confused how to use, in my opinion better only focus use one or two indicator as help tool, because indicator not always will giving true signal, and risk management always important for trader.

Now I am trying to analyze the market use naked trading analysis based on price action combine with candlestick pattern.

I agree, candlestick patterns give some of the most reliable signals for entry points. Once you learn those you need little else.

 

[AmanK]

Well, two indicators can give the best view about the market.
for example:
MACD (Moving Averages of convergence and divergence) - If the bullish chart line is above the bearish chart line.. Its a bullish trend. (buying opportunity)
RSI (Relative Strength Index) - If the chart line is bullish telling the strength of the market, its a bullish trend (buying opportunity)

If both the indicators are giving same trend, its for sure a buy position. Although, if both the indicators are not giving same trend. Its time to hold back and wait for the opportunity.
@everyone, Questions are welcome!!

 

[EuroTrader]

Well, two indicators can give the best view about the market.
for example:
MACD (Moving Averages of convergence and divergence) - If the bullish chart line is above the bearish chart line.. Its a bullish trend. (buying opportunity)
RSI (Relative Strength Index) - If the chart line is bullish telling the strength of the market, its a bullish trend (buying opportunity)

If both the indicators are giving same trend, its for sure a buy position. Although, if both the indicators are not giving same trend. Its time to hold back and wait for the opportunity.
@everyone, Questions are welcome!!

Yes, Aman you are right as i have also made use of the Moving Averages of convergence and divergence MACD and the Relative Strength Index RSI in my trading with much success

 

[hitfx]

There are many indicators available in mt4 and we had to choose that indicator which is easy to understand and also profitable too because it helps us to make understand the Forex market properly.

 

[dianajs]

Well, two indicators can give the best view about the market.
for example:
MACD (Moving Averages of convergence and divergence) - If the bullish chart line is above the bearish chart line.. Its a bullish trend. (buying opportunity)
RSI (Relative Strength Index) - If the chart line is bullish telling the strength of the market, its a bullish trend (buying opportunity)

If both the indicators are giving same trend, its for sure a buy position. Although, if both the indicators are not giving same trend. Its time to hold back and wait for the opportunity.
@everyone, Questions are welcome!!

Those determine the trend, but don't necessarily determine a good entry point, at least not for me. For all you know, the pair might be about to retrace just as you open a new position and you'll either have to wait that out, or some people panic and close their buys or sells and incur a loss.