Timely execution of a transaction in the forex market is one of the most important conditions for making a profit from trading financial instruments. Only a purchase or sale of an asset justified by reasonable factors can both maximize potential profits and minimize possible losses. This is exactly how indicators showing exact entries, and this article is devoted.
You should be aware that the described technical analysis tools should be used exclusively as part of a trading strategy, and not alone. The minimum set of additional trading tools should confirm true signals and filter out false ones, as well as allow calculating Stop Loss and Take Profit levels. However, this requirement is valid only for forex trading - to trade binary options, only an indicator of the exact entry into the market may be sufficient.
What are the best forex market entry indicators?
Among the entire set of technical analysis tools that indicate the most favorable moments for opening positions, the most convenient to use are those that indicate such moments by any change in the color of the displayed graphic elements, or by special icons (usually arrows or circles). The convenience of these indicators lies in the very quick understanding by a trader in which direction a deal should be made. This is especially valuable for scalpers, whose trading profitability depends to a large extent on the timeliness of entering the market, and for novice traders who have understandable difficulties with the analysis.
It is also important to use a non-repainting indicator for MT4, which gives precise entry points. The “redrawing” property is manifested in the fact that a trading signal can either disappear or appear on a candle that is not the current one. That is, a signal candle (the one on which a trading signal is displayed) after a few candles after the close can become a non-signal candle (without a trading signal), or a non-signal candle after a few candles after a close becomes a signal candle. This property not only leads to unpredictable losses, but also makes it impossible to identify errors (and without analyzing failures and successes, it is impossible to become a successful trader). In addition, redrawing indicators cannot be objectively verified against history.
And now there will be a small overview of non-repainting indicators that give exact entry points on MT4.
Buy Sell Magic (download )
- upward green, indicating a purchase;
- downward red indicating sell.
Best Broker
The indicator showing exact entries, Buy Sell Magic, is based on two other technical analysis tools - Parabolic SAR and Bollinger Bands. Trading signals (arrows) are generated when the price crosses the borders of the Bollinger Bands. A Parabolic, displayed as dots, indicates the level of the StopLoss of the trade.
QQE New Histo Alerts (download )
It is a histogram plot and is drawn in the basement window. Its algorithm is based on the formula for calculating the oscillator, which allows you to determine the state of oversold (which means the price has reached a local minimum and should turn up) and overbought (which means the price has reached a local maximum and should turn down) in the market. The convenience of this non-repainting indicator for MT4, which gives precise entry points, lies in the fact that its trading signals are manifested in a change in the color of the histogram (Fig. 2):
- from yellow to green - it means you need to sell;
- from yellow to red - it means you need to buy.
Other advantages of QQE New Histo include the ability to display the analysis results for timeframes other than the current one, and the presence of an audio alert when a trading signal is generated (changing the color of the histogram).
TriggerLines (download )
It is based on a moving average - one of the universal tools for identifying a trend. The calculated MA is displayed on the chart twice - with a horizontal shift. Trading signals are the intersections of these two movings, which are automatically determined within the algorithm of this exact indicator of market entry. When such an intersection is detected, the color of the curves being drawn changes (Fig. 3):
- from red to blue - you have to buy;
- from blue to red - you have to sell.
MACD BB (download )
It is a modification of the classic MACD, which calculates the convergence-divergence of moving averages. Its algorithm additionally calculates Bollinger bands based on the calculated MACD. This non-repainting indicator, which gives the exact entry points in MT4, is displayed in the basement window as a dotted curve (MACD) and two solid curves (Bollinger Bands).
Trading signals are changes in the color of the points (Fig. 4):
- for pink - you need to sell;
- for green - you have to buy.
Bollinger Bands indicate the current volatility of the market - the greater the distance between their borders, the greater the amplitude of price fluctuations.
Conclusion
Were described 4 accurate indicators of market entry, acting and displayed different ways... Therefore, on their basis, trading strategies can be built with a wide variety of complex technical tools.
((reviewsOverall)) / 5 User rating (0 Votes)
Your browser does not support images upload. Please choose a modern one
In this section you can download Forex indicators for free. Despite the fact that there are Forex strategies without indicators, indicator strategies are a simpler and more accessible means of market analysis (especially for novice traders). In addition, for example, Forex trend indicators can be a great addition to strategies based on price action patterns. The description of Forex indicators is made as short as possible so that a trader can quickly make a decision on the need to use each specific indicator in his trading. It is a personal matter for every trader to use some special indicators or to limit ourselves to classical ones, such as, for example, the Forex RSI indicator. Remember: any indicator must be carefully selected for each specific trading system or strategy. Many people mistakenly believe that there are profitable Forex indicators and non-profitable ones, however this is not the case. Any, even the simplest indicator, such as the Forex channel indicator, allows you to build a profitable trading system. And on the contrary, even the most expensive and sophisticated will not give anything but losses if used incorrectly. Please keep this in mind when choosing the Forex MT4 indicator for use in your trading system.
It is important to understand that there are a huge number of Forex indicators now, these are standard, modified, and author's.
How to choose Forex indicator among a wide range?
- Remember, there are many indicators, but you do not need to use all of them at once, stop choosing only a few;
- As a Forex trader, don't waste your money on paid indicators. Use the ones that are in the arsenal of your trading terminal default;
- When choosing indicators, be guided by the fact that these indicators provide various information about the state of the foreign exchange market. Do not use the same type of Forex indicators.
- It should be noted that in accordance with their functional properties, indicators can be divided into two groups: trend indicators and oscillators.
- Trend indicators help to highlight price movement in one direction and determine the moments of trend reversals, synchronously or with a delay.
- Oscillators allow you to determine turning points in advance or synchronously. For instance, Forex volatility indicators like RVI, CCI, RSI and others.
- Check the identity of the indicators. We can safely say that using the Stochastic Oscillator, Momentum and RSI indicators at the same time, you will probably get almost identical data, but using a different set of MACD, Volume and RSI - a comprehensive analysis of the market state, since these indicators provide data from different points of view.
For optimal settings of the Forex indicator, you should:
- understand what the indicator should show (trend strength, direction, support / resistance levels, divergence);
- choose a timeframe on which the indicator will be used;
- see the history of the indicator, understand the patterns of work;
- understand what signals the indicator gives, they can be lagging or leading;
- select the indicator parameters, focusing on the optimal signal quality;
- be sure to test the indicator on a demo account or on a micro account.
Have you ever wondered how to use technical trading indicators to trade forex? If so, then this article will definitely please you.
When you choose your trading strategy technical analysis, you must choose your trade weapon carefully! And while my personal trading style involves being cleaner rather than using the indicators themselves, I find they can be very helpful when applied correctly.
Today we will be discussing some of the best technical analysis indicators for Forex trading. We will discuss the signals we will receive from these indicators and how you can incorporate them into your own Forex trading approach.
Forex technical indicators
Let's start by discussing technical analysis indicators that can be ahead or lagged in the time at which they provide a signal.
Leading indicators are also called oscillators. These are forex technical indicators that give us an entry / exit signal prior to the actual occurrence of the relevant event.
Lagging indicators are usually trend confirmation indicators. Lagging indicators give confirmation signals after the actual occurrence of the event. These trading indicators give us a confirmation signal that the trend on the chart is in full swing.
Let's now take a look at the best technical indicators for Forex trading:
Leading indicators (oscillators)
Leading indicators are indicators that manage to give you a preliminary signal. This means that a leading indicator can give a signal to enter the market before a potential move. Keep in mind that even if leading indicators help you get trading signals before starting a new phase, there is a good chance that you will receive false signals.
Therefore, traders often combine more than one leading indicator to eliminate as many false moves as possible. Let me now show you two of the most widely used leading technical indicators in Forex! These include the Stochastic indicator and the RSI indicator.
Stochastic indicator
The Stochastic indicator was created by George Lane and is one of the most popular indicators. I myself had the pleasure of studying George Lane's courses back in the late 2000s and spent about a week studying his trading methods. But this is history for another day. Basically, the Stochastic indicator is used to determine the overbought and oversold conditions in the market. In other words, the Stochastic can sometimes tell you that the market is overbought and prices may be down for a correction in the near future. If the signal is in the oversold zone, then the stochastic tells you that this currency is oversold, and a rebound is possible in the near future.
The stochastic indicator consists of two lines that move together and interact with each other at some point. In addition, the indicator has an upper and lower zone. The upper zone is overbought and the lower zone is oversold.
When two lines enter the lower area, the stochastic gives us an oversold signal. In this case, we can buy a currency pair when these two lines cross at the top when leaving the oversold zone. If two lines are in the upper area, the stochastic tells us that the Forex pair may be overbought. Then we can sell the pair when the two lines cross down the overbought area. These are the two main signals that the Stochastic Oscillator gives us.
However, the stochastic is also very useful for divergence trading. If you spend your technical analysis With Stochastic, you will often notice that the indicator is moving up and the price is moving down, or vice versa. These are bullish and bearish divergences. If there is a bullish divergence between the price and the Stochastic, we can anticipate a possible rise in the price. The same is true, but vice versa, for bearish divergence. Now let's take a closer look at the Stochastic Oscillator:
This is the H4 chart of the EUR / USD pair for the period from Dec 16, 2015 to Jan 20, 2016. At the bottom of the chart, you see the Stochastic indicator.
- The first black arrow shows us that the Stochastic is in the oversold area. Stochastic goes up and the price starts to rise.
- After that we have an overbought signal. The decline comes right after that.
- A new oversold signal initiates a new bullish trend.
- The next overbought signal leads to the most great decline on this graph.
- The downward movement of the Stochastic gives us one false oversold signal.
- Then we get a real oversold signal, which allows us to enter a long position.
- The next signal is tiny and hints at an overbought market. The price reacts to it the same way.
- Then we get a new overbought signal and we get a great down move.
- On its way down the Stochastic gives us a false signal.
- And at the end we get the last signal - oversold. And we get a little upward movement.
RSI is another effective leading indicator. It is similar to the Stachastic Oscillator in that it provides clues on overbought and oversold levels as well as divergences. However, the RSI only has one line that enters the upper and lower areas of the indicator. They are overbought and oversold areas.
When the RSI line enters the upper zone, usually above the 70th level, we get an overbought signal. This puts us in a short position in the Forex pair when the RSI line breaks out of the overbought area. When the RSI line enters the lower zone, usually below 30, we get an oversold signal. Then we can buy the Forex pair when the RSI line breaks out of the oversold zone.
Divergence is visible on the RSI indicator as well as on the Stochastic. Sometimes the high and low prices in the RSI will diverge, giving us bullish and bearish divergence. Bullish divergences are likely to predict potential upward moves, while bearish divergences indicate potential downward moves.
Let's take a closer look at the RSI in action:
Above, we have the H4 chart of the GBP / USD pair for the period from September 1 to October 2, 2015. At the bottom of the chart, you see a technical indicator - the Relative Strength Index (RSI). The image simply shows two signals per line for the oversold and overbought markets coming from the RSI.
After the first signal, which was in the oversold zone, the price starts a strong and steady growth, which lasts about two weeks. Then we get an overbought signal for the GBP / USD pair. The RSI breaks the overbought area and the price begins a strong decline that lasts more than two weeks.
Lagging indicators
From the name, you can understand that these are indicators that are lagging behind. This means that the signal comes after the event has occurred and it acts as a confirmation, not a prediction. Thus, it should be emphasized that the biggest advantage of lagging indicators is that they tend to give you LESS false signals than leading indicators. On the other hand, their disadvantage is that they put us in the trend later. Let's now discuss some of these types of technical indicators:
ADX - Average Direction Index
The Average Directional Movement Index (ADX) is a technical indicator used for trend analysis. It shows how strong and reliable the trend is. This should not be confused with the direction of the trend. The ADX indicator does not show the direction of the trend. It only provides hints of the strength of the trend. The ADX indicator is considered one of the best trend indicators. The reason for this is that it shows the strength of the trend with higher precision and is very easy to understand.
The ADX is simply a curved line that moves, for example, in the range from 0 to 60. Traders view ADX values above 35-40 as signals for very strong trends. This is the moment when there is a very powerful trend in the market! Conversely, values above 20 and below 30 are seen as signs of an emerging trend. When the ADX is below 20, it is usually an indicator of the calm state of the market without a good trend. This is important to remember as most fakeouts occur during these low ADX values. That being said, it is generally advisable to stay out of the market if the ADX is below 20, unless you are trading some sort of rangebound strategies.
The image below will show you how the ADX indicator works:
This is the daily chart of the USD / JPY pair from July 29, 2014 to February 17, 2015. Above you see the ADX indicator with its 40.0 level line. As you can see, the ADX has risen above 40.0 a couple of times. At that very moment, the strength of the bullish trend was increasing. Since the ADX does not provide any information about the direction of the trend, it is up to us to decide which direction the trend will go. In this case, and usually in most cases, a quick glance at the chart will make our selection almost crystal clear.
Bollinger Bands
Bollinger Bands are a technical indicator based on price volatility. It consists of an upper and lower band, and a simple moving average in the middle. The upper and lower stripes are used as and often the SMA is used as the position trigger.
When two bands are close to each other, it means that the currency pair is in a low volatility environment. When the bands start to widen, it means that the Forex pair has experienced increased momentum and price volatility.
Take a look at the graph below:
This is a chart of the USD / CHF pair in the H4 time range. The period is January 12 - February 11, 2016. We also put the Volume Indicator at the bottom of the chart so that you can understand why the Bollinger Bands are expanding. As you can see, from January 12 to February 3, 2016, the Bollinger Bands lines were not quite close to each other. This means that USD / CHF trading volumes are relatively low and the Swiss Franc is likely to be out of trend. We have placed a line on the Volume Indicator, which shows the average Swissy volumes until February 3rd.
On February 3, 2016, Bollinger Bands begin to widen due to unusually high volumes of the Swissy franc. At the same time, the price falls. This should be seen as a "decrease" in the USD / CHF pair. The Volume indicator confirms the expansion of trading on the USD / CHF pair.
MACD (Moving Average Convergence / Divergence)
MACD is an indicator that takes two moving averages of two moving averages of prices, and then flattens them with two other moving averages. In addition to the two moving averages of the indicator, there is also a histogram that shows the difference (distance) between the two moving averages. As you probably guessed, the MACD indicator is relatively far behind. However, it is one of the most widely used Forex technical indicators.
The main MACD signals:
- Open a long position when the two MACD lines cross upwards.
- Open short when the two MACD lines cross down.
- Bearish divergence - when the MACD moves down and the price moves up.
- Bullish divergence - when the MACD moves up and down.
Now let me show you the MACD indicator in action:
Above you can see the daily chart of the AUD / USD pair. Period April 7 - October 23, 2015. At the bottom of the chart, you see the MACD with its histogram.
- The first green arrow on the MACD shows a bullish cross of the MACD lines - a long signal. Price increases subsequently.
- The first red arrow on the MACD shows a bearish cross on the MACD lines - a short signal. Reduced prices afterwards.
- The second green arrow is a bullish MACD signal. The price makes a small increase, but then it falls, turning the potential trade into a losing one.
- The second red arrow is a bearish MACD signal. The Australian dollar is falling heavily.
- The third green arrow is the bullish MACD cross. AUD / USD is increasing slightly.
- The third red arrow is a bearish MACD signal. The price goes down again.
- The fourth green arrow is the bullish MACD cross. The price rises but then falls. This trade is a losing one.
- The fifth green arrow is a bullish MACD cross. The price will melt again.
Parabolic SAR (Stop and Reverse)
The Parabolic SAR indicator was created by Welles Wilder, who also created the RSI indicator. Visually, it places small dots on the chart, above and below the candlestick. When the candles close up, the dots are below the candle. When the candles begin to close down, the switching points are above the candle. Compared to some other indicators, Parabolic SAR is equally effective for entry and exit signals, but many traders use it primarily for exit signals.
Parabolic SAR has one rule - buy when there are three points below the candlestick and sell when there are three points above the candlesticks.
The image below will show you exactly how the Parabolic SAR works:
This is the H4 chart of the USD / CAD pair. The period is from December 30, 2015 to February 2, 2016. The black dots represent the Parabolic SAR indicator.
Conclusion
Trading with indicators is one of the most popular ways to work in the foreign exchange market.
Indicators should be used in context with current market conditions in order to minimize false signals.
Technical analysis using indicators is implemented in order to establish more accurate entry and exit points on the charts.
There are two types of indicators:
- Leading indicators
- Lagging indicators
The most popular leading indicators are:
- Stochastic
- Relative Strength Index (RSI)
The most popular lagging indicators:
- Average Directional Index (ADX)
- Bollinger Bands
- Moving Average Convergence / Divergence (MACD)
- Parabolic SAR (Stop and Reverse)
In this article, we will show you how to trade with the Coppock Curve. You will be able to use the learned methods and strategies on any ...
01.11.2019
Elliott Wave Oscillator
The Elliott Wave Oscillator (EWO) is the difference between simple moving averages (SMA) with periods of 5 and 35, drawn on points ...
20.10.2019
Chaikin's Cash Flow Indicator: The Basics
Cash flow: the basics Many traders who study technical analysis, Special attention focus on technical indicators that allow you to more accurately determine entry and exit points ...
09.02.2019
Using the RSI indicator to determine whether the market is overbought and oversold
Using the RSI indicator to determine whether the market is overbought or oversold Basics of working with the RSI indicator The RSI indicator assumes working with such ...
08.02.2019
Following the big players when trading Forex - 4 best economic indicators
Following the Big Players When Trading Forex - Top 4 Economic Indicators Many of the traders claim to be trading ...
26.10.2018
A Complete Guide to Trading With Ichimoku - How To Use This Indicator
A Complete Guide to Trading With Ichimoku - How To Use This Indicator The Ichimoku indicator is a versatile indicator that simultaneously provides ...
24.10.2018
How to use the ATR indicator - a universal trading tool
How to use the ATR indicator - a universal trading tool ATR is a very popular indicator, but we often observe that many ...
22.10.2018
What is the best moving average and what settings of this indicator are best for your trading
What is the best moving average and what settings of this indicator are best for your trading So what is ...
19.10.2018
A step-by-step guide to using the Stochastic indicator
Step by step guide on using the Stochastic indicator We are always surprised that many traders do not really understand what indicators are, ...
17.10.2018
The VWMA indicator is the best breakout trading tool
The VWMA indicator is the best tool for breakout trading Everyone knows what moving averages are. Everyone knows what volume is ....
16.10.2018
What are Bollinger Bands - the best indicator for a trader
What is Bollinger Bands - the best indicator for a trader Bollinger Bands are one of the most reliable and powerful indicators available ...
15.10.2018
RSI - The Complete Guide to Trading Using the RSI Indicator
RSI - The Complete Guide to Trading Using the RSI Indicator The Relative Strength Index or RSI is one ...
11.10.2018
MACD indicator - how to use it correctly
MACD indicator - how to use it correctly The MACD is a popular momentum and trend indicator based on moving ...
11.10.2018
8 indicators, tips and tools to determine the strength of a trend in trading
8 indicators, tips and tools to determine the strength of a trend in trading Trading is inextricably linked with the ability to determine the structure of the market, sentiment ...
10.10.2018
Currency Pair Correlation Indicator
Correlation Indicator A highly effective and reliable free indicator. Allows you to compare correlations between two or more instruments. With this indicator, you ...
11.09.2018
More articles
DESCRIPTIONS OF INDICATORS USED IN THE TEXT
- FDM Entry Arrows with Alerts - an indicator showing quotes on the chart best levels to open trading positions
- EMA Cross (SES) - an indicator that displays the intersection of two movings, the parameters of which can be set by the user
- WPRSI Signal is an indicator that displays on the asset chart the moments when the price breaks out the dynamic support levels determined by the WPRS indicator.
- T3MA-ALARM is an arrow indicator that displays on the chart of an asset the moment the price crosses the moving average
Trend indicators and oscillators
- Forex Eye is an indicator, the logic of which is based on the work of several modified ZigZag indicators, thanks to which you can fairly accurately determine the levels of reversal of quotes.
- Heiken Ashi is an indicator that works according to a special algorithm for analyzing Japanese candlesticks, helping to get more accurate data on trend changes in the movement of quotes.
- RSIOMA_vol. 3 - the indicator, built on the combination of the logic of the RSI and MA indicators, displays medium-term and short-term trends well.
Cluster indicators
- CCFp is a cluster indicator that assesses the strength of each currency from the list available on the MT4 platform relative to the rest of the terminal currencies, which allows you to more accurately analyze the direction of asset quotes.
- CFP is an impulse version of the cluster indicator CCFp, which displays short-term trends in asset prices.
Information indicators
- CandleTime is an informational indicator showing the time remaining until the current quotes candle closes.
- URDALA NEWS is an informational indicator in the form of vertical lines on the chart that displays the time of the release of macroeconomic news and their name.
- ORDERINFO is an indicator showing the amount of funds involved in trading, balance, equity and margin.
Forex technical indicator is a mathematically calculated conversion of price and volume financial instrument in aggregate or separately, which is capable of predicting further price changes.
The Forex indicator gives the trader the opportunity to make the right decision regarding the timely entry and exit of the market, as well as which position is more appropriate to open in order to make a profit on Forex.
Indicator for MT4 "FOREX PARADISE" is a highly accurate indicator - a personal indicator from a Trading Guru, which allows you to earn hundreds of pips stably and safely without using Martingale and high-risk trading methods.
The indicator is designed for 70 currency pairs on Binary Options and Forex and is guaranteed to give more than 87% of accurate entries, you can use any broker with the MetaTrader platform.
"Trend4you" trend indicator shows the forecast of the possible trend direction, based on the analysis of the trend strength on all timeframes. The indicator reflects data on the following time frames M1, M5, M15, M30, H1, H4, D1, W1, MN.
The 10 columns represent the last 10 bars of each timeframe period. The color bar indicates its type - the red arrow is "bearish", the green arrow is "bullish" and the yellow dot is the neutral position of the trend. The right column with a check mark contains a summary of the trend direction estimate. You should open a trade in the direction of the main trend based on the results of the first column. Starting from the lowest column from 0 to 9, a change in the value signals a trend change.
Works for everyone currency pairs... Well suited for manual intraday trading and scalping on signals of the lowest timeframes. Has a very quick reaction to trend changes. Easy and intuitive for making trading decisions.
main feature This news indicator is that it can be used in almost any Expert Advisor to enable or disable trading (or some other action) during the news release.
It can also be used as a regular indicator showing the news release.
Everything is visible and understandable on the chart, it is a very convenient and useful indicator.
The indicator has many different settings. Such as the color and type of indicator lines, it allows you to display only future events, has filters by the importance of news, as well as on / off the sound signal about upcoming news.
1. AutoDetectPairs (true / false). If set to true, the virtual trade monitor will check if your broker supports the original set of currency pairs or an alternative and selects a suitable one. If set to false, it will use alternate pairs (IBFX), but these can be overwritten with "Custom sell pairs" and "Custom buy pairs". Which pairs are currently used which are shown in parentheses in the line below "Virtual Trade Monitor" (near the top right corner of the diagram)
2. ShowJumps (true / false). If true, links will be shown visually with lines and arrows. This can be one of the most important features of the virtual trading monitor, as it shows how the pairs move after the jump!
3. DisplayJumpInfo (true / false). If set to true, the virtual trade monitor will show below the sell / buy amount of pairs Additional information about the latest transition. Especially after a jump has passed time has passed (for example, if you don't sit in front of your computer all the time). Combined with the ShowJumps parameter, this is a good tool for controlling the movement of couples jumping.
4. ShowJumpAlert (true / false). If set to true, you will be informed of every jump through an alert box (with sound).
5. ShowBaskedBackground (true / false). If set to true, the background of the indicator basket will be colored red (sell pairs) and green (buy pairs). It just gives a better visual experience and makes it easier to distinguish between the upper "sell zones" and the smaller "buy zones". You can of course set it to false to turn off the background fill.
6. Custom Pairs Buy and Sell Custom Pairs can only be used if AutoDetectPairs is false! The default is an alternate set of pairs, but you can put in your own pair of course.
Highly profitable professional indicator for Forex.
It is used in conjunction with indicators defining flat.
It is a powerful weapon against losing trades.
The indicator simultaneously analyzes prices on all timeframes and provides a clear direction of price movement.
Very convenient and useful to work with.
Currently, the FOREX market mainly deals with four currencies: the Japanese yen, the Swiss franc, the British pound and the euro. Pallada is a trading system for MetaTrader 4, designed to trade both long intraday trends and intra-session movements in the EUR / USD, USD / JPY, USD / CHF, EUR / JPY, CHF / JPY markets; the TS can be configured at the client's request and other pairs.
Xprofuter is one of the most non-standard indicators on Forex market... It displays the movement of the price chart 12 bars ahead. The accuracy with which the indicator determines further movement is approximately 90%. But he does not give great advantages in work, but only prompts the further price movement and what it will be.
How to trade with iPanel_Indicators.ex4
The iPanel indicator scans signals from multiple Forex indicators for multiple time frames and turns everything neatly on the screen as up and down arrows. Up - buy, down arrow - sell.
The information window can be moved to any of the 4 corners of the chart by changing the value of the "Corner" parameter from 1 to 2, 3 or 4.
What are the indicators of traders monitor with iPanel?
Stochastic 8, 3, 3 - iPanel shows position 2 Stochastic lines% K and% D (in the screenshot above they will correspond to% K - red and% D - blue).
When red is higher than blue, iPanel will show a red arrow, sell.
When red is below blue - green arrow, buy.
RSI 14 - When RSI is above 50, it will be an uptrend and a green arrow up, RSI below 50 is a downtrend and red arrows on the iPanel are down.
CCI- (settings for CCI are unknown, unfortunately, for sure it could be 14 or 20.
In any case, this does not prevent us from simply reading CCI signals on the iPanel: green up arrow - buy. Red down arrow - sell.
On the iPanel, CCI has a special status - an additional set of arrows. These arrows have the following meaning:
Slanted Up Arrow (Green) - CCI is struggling to sell.
Downward Sloping Arrowhead (Red) - CCI is against a buy.
MACD 12, 24, 6 - remember that you can change the indicator settings, in the screenshot the MACD has standard 12, 26, 9 settings.
When the MACD histogram is above zero and the MACD signal line hovers above the histogram - Sell.
When the MACD histogram is above zero and the MACD signal line is trading within the histogram - buy.
