This is a list of the greatest technical forex indicators you can find. I have chosen them on the basis of their reliability, and accuracy. Indicators play a major role in the process of technical analysis, they can be used to identify trend direction, they can be used to verify entry signals, and they can be used to define overbought or oversold areas. Technical analysis wouldn’t be what it is today without the use of indicators. Here you’re fortunate because these ones are customized, that means they work up to 10 times better than the standard indicators.
We should get straight to the list!
- The strength arrow indicator; this technical forex indicator is used by major banks and hedge funds, it is perfect for scalpers and swing traders. It works well for almost any currency pair and on any trading time frame. This indicator poses the ability to beat most technical indicators out there on its own.
- PZ support and resistance; this indicator is self-explanatory, it is a multi-timeframe indicator which automatically detects and plots important price levels while analyzing its importance. The past and present levels are collapsed by proximity and adjusted to the current market action.
- Forex Ultimate Trend Signals; this is one of the best Forex Indicator system available for metatrader4. It is adaptive and profitable, it has an algorithm of auto-detecting turning points. It uses the RSI, MACD, ADX, and moving averages to help you overcome losses caused by emotions to archive profitability.
- PZ Wolfe Waves; This Forex Indicator is one of the most profitable reversal systems in existence, it is very accurate because it waits for a breakout in the wave direction before signaling the trade resulting in a high winning ratio.
- MA BBands Signals Indicator; this is a band channel-like indicator which uses the principle of moving averages. It has been designed to work on all time-frames and all currency pairs. When using this indicator, it will simply make your life easy as a trader because learning to use it is an investment on its own.
- Hill no repaint arrows 1; this indicator tool is best for highlighting the trend, it is very easy to understand. You can use it as part of your trading strategy, you can also use trend lines to pick the best buy/sell signals.
- Fibonacci Retracement Finder; this indicator has histograms moving in the negative and positive territory. Whenever the histogram is in the positive territory, it indicates that the market is in a bullish state and its best to buy, when the histogram is in the negative territory, it indicates that the market is in a bearish state and it’s best to sell.
- Forex Taotra Indicator; the taotra indicator is a system on its own, it contains several dotted moving averages and price, the market is bullish whenever prices are above the dots, and bearish whenever prices are below the dots. When you use this indicator properly it can generate unbelievably huge returns.
- Forex MACD OsMA Indicator; this is one bad-ass indicator which contains all the information a trader needs to make informed trading decisions, the rules are simple and sufficient discipline is required when using this indicator.
- Custom XP Moving Average Indicator; this is a very reliable custom moving average indicator, to make you trading job easy it changes color. When it turns green, the market is bearish and you should be looking to sell. When it turns red the market is bullish and you should look to buy.
- Din Fibo Next Indicator; this indicator system consists of two bands which move parallel to each other like a channel, the band at the top works as resistance and the one below works as support. To use this indicator to its fullest potential you need basic knowledge of market trends and you should never trade against it.
- 5 Min Scalping With M5 Trader Indicator; this is a forex trading indicator which is a customized moving average with the blue and red color. It changes color automatically, the market is trending down whenever the color is red and bullish whenever the color is blue.
- AIS1 Advanced Indicators market view; this is a manual trading indicator, it works best on the 1min timeframe up to the 15 min time frame.
- PZ Binary Options Indicator; this system analyzes price action price patterns and helps you make informed decisions in the binary options market, it works for both mt4 and mt5 platforms. This indicator is very consistent because it takes advantage of mathematical methods used by professional gamblers.
- Alligator Signal Indicator; this indicator consists of many blue and red arrows, the red arrows pointing upwards indicate bullish market conditions and the blue arrows pointing downward indicates bearish market conditions. Buying and selling decisions are quite easy to make because the arrows change color and direction immediately the market changes conditions.
- Aroon Horn Oscillator; this is a forex tool that works best with other tools, it is used by market technicians. Technicians use it to verify trading decisions. Aroon Oscillator is a histogram indicator that fluctuates in a positive and negative territory.
- Array Test Indicator; this is a system consisting of two custom moving averages, it is excellent to use in trending markets. Selling and buying signals are generated on the basis of crossovers of the two moving averages. When the yellow moving average crosses the red moving average from below, it gives a buy signal opportunity and when the yellow moving average crosses the red moving average from above, it gives a selling signal.
- BB Histogram Indicator; here’s the best histogram available, it has blue and pink dots and it appears just below the candle bars when installed on mt4. When the Histogram is positive above the zero line it indicates bullish market conditions and when it is negative below the zero line it indicates bearish market conditions. You are very likely to capture pips if your take trades in the direction of the trend.
- Choppiness index indicator; this indicator system has a channel just below the candle bars and an oscillator moving like moving averages. The upper band of this indicator indicates an overbought price zone, the lower band indicates an oversold price zone.
- Discipline Oscillator for Forex Trading Signals; the discipline oscillator accommodates both expert traders and novice traders. It has been well tested and has produced consistent results. You can use it to scalp the market for quick profit or swing for the long term.
This is it for our top 20 most downloaded indicators in our collection, the basic requirement for using any of the indicators is that you have basic knowledge of market trend. For consistent success in trading, other factors come in play, for instance, you need a strategy to suppress the desire to overtrade, you need to know the best time to use any indicator and you need to have a plan for your transaction sizes. Anyway, thanks for checking out this list and we really hope you choose the best indicator that will work for you in the long run.
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