Top 3 MT4 Indicators Useful for Forex & Stocks Trading
MT4 indicators are very useful for forex, oil, gas, silver and stocks trading. Many newbie traders are looking for reliable MT4 indicators after they installed the MT4 Meta Trader 4 trading platform.
There are many useful MT4 indicators to insert in your trading platform and start trading. Getting signals, entering the right time is very necessary in trading to become successful. You might wondering why you’re too late when you want to go short and sometimes you’re too early when you want to enter a long trade.
This is the reasons why we want to cope the most useful Mt4 indicators you can use when trading. However, don’t just rely on this list of indicators. You need to understand that to become a successful trader, you have to use not just the indicators, but make use of reading candlesticks, reading volumes, analyzing facts and news, etc.
MT4 Indicators I Personally Used
There are MT4 indicators that are very useful in specific timeframe and there are also indicators suitable for every timeframe.
A. Moving Averages
I personally use 50 EMA, and 200 EMA. Here you can spot a good trend especially when you found a newly crossover between 50 EMA and 200.
B. Stochastic Oscillator
I am always looking for overbought and oversell pair in forex trading. When I found overbought (above 80 level), then I will read the candlesticks before I will enter a trade.
Similarly to oversell, I will enter a buy or long trade after candlestick confirmation for reversal.
C. Commodity Chanel Index or CCI
I will look for the signal line when it crossed over +100 and -100. This is one of my favorite. And it gives high rate of winning trades.
I will go long when the signal line stays long below -100 and crossed over -100 going to level 0 and exit when it crossed over +100.
I will go short when the signal stay longer in +100 and crossed over +100 going (pointing) to level 0.
CCI is highly recommended for SWING trader where in you can easily spot the lowest price possible and highest price possible, then enter a trade to level 100 for short and -100 for long.
Summary
Trading using MT4 indicators will only become useful if you test them according to your strategy. Also, MT4 indicators are suitable for specific timeframe and strategy and sometimes even a currency pair or stock.
Make use of 50 EMA and 200 EMA and look for crossover and follow the trend. Buy when then trend is in uptrend, go short when the trend is in downtrend. Stochastic oscillator let you know if the price is oversold and overbought. While CCI is very useful for SWING trader wherein you can easily spot the highest price and lowest price possible. Buy low and sell high strategy can be more effective when using CCI.
What do you think about the top 3 MT4 indicators? Share of your insights and your favorites MT4 indicators you are using when trading forex and stocks. Always visit Daily Investing Tips www.InvestmentTotal.com for more topcis about trading and investing!