Forex has emerged as the biggest trading market in the world. Every day, millions of traders from all across the world trade in these markets round the clock. To succeed in Forex trading and to obtain profits, just a crafting of manual strategies is not sufficient. Many types of Forex trading software are available in the market today. These trading software can help in executing trades effectively and can help a trader to obtain profits. The trading software is also equipped to give out trading signals which are called Forex indicators. These can help in carrying out a trade effectively. Some of the Forex indicators for Metatrader are
3rd Generation Moving average – In this indicator, time lag is reduced to the least possible level thereby preserving the smoothing capability of moving average. It is a version of the classic moving average indicator
BB MACD – This indicator is used to determine the beginning or end of a trend. It also serves as an indicator of trend strength. It is a MACD variation custom MT indicator, which is based on moving averages and Standard deviation.
Aroon Up and Down – This Forex indicator for Metatrader is useful in determining the trend changes.
Beginner – This Forex indicator for Metatrader shows the maximum and minimum points in a trend. These points can be treated as the support and resistance points which can help a person to understand current trend channels in a better way. It can be a good base for your own range breakout expert advisor.
BMA – This is a moving average indicator that saves the traditional MetaTrader moving average functionality but adds two bands to the standard line. These bands are placed (by default) 2% below and 2% above the main line and serve as the strong pull-back levels.
Dots – This is considered to be a very good Forex indicator for Metatrader which can detect trends using a spike filtering option and a number of adjustable input parameters.