The Hidden Power of Indicators in MetaTrader

[saeid.hatamikia]

MetaTrader is packed with powerful indicators, but how many of them do you actually use effectively? This article introduces popular ones like Moving Averages, RSI, and Bollinger Bands, and explains how to combine them for better results.

Key points include:

• The difference between trend-following indicators (e.g., Moving Averages) and oscillators (e.g., RSI).
• How to avoid “indicator overload” by focusing on a few key tools that complement each other.
• Real-life examples of strategies, like combining RSI with a 50-period Moving Average for trend confirmation.

Interesting insight: Indicators don’t predict the future; they help you interpret past and current price action.

Question for the forum: What’s your favorite indicator, and how do you use it in your trading? Have you tried building custom indicators?

 

[Arcanyx]

My favorite indicator is 34 EMA Wave from Raghee Horner, it allows me to measure the market mood by the clock angles and it's a powerful sup/res (I guess it's because it's common to see very popular moving averages like 8 EMA, 9 EMA, 20 SMA, 50 SMA, and 80 SMA inside of the channel created by the high and low from the 34EMA, that means that a lot of traders also see some point of the wave like sup or res, therefore these traders also look for trades in same direction as us ).