Difference between normal indicator and custom indicator

EuroTrader

Sergeant Major
Messages
1,052
The indicators that are available with Mt4 platform are the ones that are normal indicators. While the indicators that you add in Mt4 installed directory are custom ones.

I have seen many of the traders are using Indicators in their trades and they also know that if they want to become a successful trader in this business then the only way of doing that is using the trusted Indicators :)
 

mlawson71

Corporal
Messages
188
Hello peeterwoolf

I like to use the "Moving Average" on my S&P500, plus my own trendlines to gauge the trend. Using the "Daily 200" gives me roughly one full years trend.

It is a lagging indicator, which means it doesn't predict new trends, but adding both (Moving Average & trendlines) together gives that bit of extra edge.

Good luck
liz

I like Moving Average too. It can give you a pretty good idea about current support and resistance levels.
 

Desacete

Recruit
Messages
156
Upgraded indicators are definitely good but I, personally, prefer using the standard ones. Because who knows what was chosen in upgraded indicators and how it'll influence trading.
 

Addam

Recruit
Messages
259
Custom indicators are used to analyze the past and current price of a currency pair, stock, commodity, etc. in order to predict the future price. Traders can make their own custom indicators by utilizing some important factors which effect the movement of forex market. For example News, price action, etc.
 

Bentley11

Recruit
Messages
12
The original indicator is customised by adding or changing certain codes based on the traders, and the standard indicator is only used to modify the inputs window.
 
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