How to choose the best combination of Forex indicators



The goal is to pick the best indicators set. The challenge is to combine indicators in a smart way. This means that indicators should deliver different type of information about the market and confirm each other rather than duplicate signals.

When two or more indicators provide identical information about prices, it hardly ever helps trading better; and while Forex traders call it "signal confirmation", it is in reality could be the same type of data, and should be called "duplication", rather than "confirmation". When money is at stake, the problem becomes serious…


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Hi. My name is Dorian. You have a great site, but there are no dates. I can't tell if I'm commenting on something from 2007 or yesterday (it's Oct. 11, 2011).

Anyways, I'm wondering if you know how I can program MT4 (or if there is already a script for this) to perform a Backwards Moving Average indicator? I'm looking to obtain the average price movement over a period of time from the present, backwards to another given point in time.

Much obliged for any info you might have on this. Thanks. BTW, if you do have info on this, since I'm not sure I'll ever be able to find your response, kindly send a CC to doriangreerATmail.com

 

This site is excellent and exactly the instruction I was looking for in setting up my first trading system.

 

I really love this site

 

i am looking for HMA indicator but it seems that i can't download it from anywhere. please advise on how if anyone knows.

ERNA

 

i want forex pattern indicator (eg) head and shoulder pattern etc.............
my mail id g1princes@yahoo.com

 

I notice you have no Gann indicators here such as Gann hilo activator. I did so because I was looking for an explanation of how best to apply that particular indicator and recalled at once that this was the best site to come. Unfortunately this time I was disappointed. Of course it does not in anyway reduce my high opinion of the site but let me say as follows:

After nearly two years of trial and error I believe I have finally created a simple and incredibly effective system and (most important) the discipline to trade its signals. I am now proudly a trader at last and one that can earn a very comfortable living by trading. A lot had to do with your site and the insights you provide on indicators. For that I thank you.

I hope that soon you will consider a series of the more easy to apply Gann indicators of which there are several and which do not need the usually over-involved and tedious detour to hopelessly complex theories on squares and lines. I believe that applications like the Gann hilo can almost instantly turn an unprofitable newbie to a confident trader and what is more - because of the speed and consistency of the positive experience associated with these indicators teach and encourage the discipline required for success. My system is not at all based on Gann - and in fact the hilo activator was the last component, but I tell you it turned out to be the linchpin. Thanks so much and good luck

 

This information is very helpful for beginners like me. I want to venture in this kind of field but need to learn more before dipping in. Good post.