What are the forex indicators?

Indicators are used for identifying, or even creating patterns from the chaos of the currency market. In all cases, they receive the raw market data as the basic input, and manipulate it in differing ways to create (as opposed to discover) actionable trading scenarios. The natural consequence of this description is that indicators are not tools of prediction. Instead, they are used to give order to the price data, so that it is possible to identify possible opportunities which can be exploited profitably by the trader. No indicator is right or wrong with respect to the signals that it emits, but each of them must be used with an appropriate money management strategy in order to deliver the desired results.

There are many different kinds of indicators, and it is not at all a hard task to define one's own tools for the purpose of evaluating the market provided that a basic literacy in averages is attained, what is desired from the created indicator is made clear. Different constructions will lead to differing techniques which can then be employed most effectively as part of a trading strategy.

So you can regard indicators as your compass and ruler in navigating waves of the forex market. We would use a compass or a ruler to predict when or where a storm will hit, but every sailor knows their usefulness in defining a path over the high seas. Use your indicators to plan your journeys in forex, while protecting your funds with proper money management techniques, and all will be well for you.

There are literally hundreds of different indicators...

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