Imagine having an Indicator where you could just click on a button and you know the trend. All newcomers enter with the illusion that one day they will be able to find this best Forex trend indicator that could tell the ongoing trend with an absolute guarantee and then will follow a Ferrari, Merc, and a private jet. But poof! People try out every possible indicator with this angle and that but only to find continuous failures, certain defeats and final surrenders. Hence, it becomes important for me to tell everybody that the market is never in any kind of a trend.
A trend is only a way of looking at the market movements on certain parameters so as to facilitate you with a platform to form your trading strategies. You will be surprised to know that while one indicator can show the same market in an uptrend, the second indicator at the same time can prove you wrong. Why even two indicators, if you were to deploy only one indicator on the same pair at two different points, you will see the each application shows a different trend. It’s not determining the trend that makes you successful; it is your strategy on your Indicator that makes you rich.
With that purview, you will see that each Indicator and each of its application have a different projection to the ongoing movement. If you fail to understand how you should use those projections to your benefit, then it’s your failure and not the indicators’ as I say, each Indicator that is available on your charting applications is the best Forex trend indicator that you could ever find. Switching over from one to the other indicator doesn’t help but understanding your indicator’s projections nicely and having continued faith in only one indicator is what lays the foundations of great success.
All Indicators show a trend depending on what time frame you use it on. It’s surprising that you may believe that the pair is in downtrend and I say it’s in the uptrend, we both contradict and yet we both can end up making profits together. It is you who has to give a definition to trend you want to see and then, leave it on your indicator to read. Right when the indicator projects that the market has just confirmed your definition of a starting trend, you can decide what you want to do, I/e. go with the trend or against it, your choice. Any indicator that can alert you about your trend formation in the current market is the best Forex trend indicator you could find, so why to not keep it rather simple. It’s with the experience that you will learn that even the simple lines can serve as the best Forex trend indicator for some of the traders irrespective of whether they trade with it or against.
Remember that while developing your forex trading career, you focus should entirely be on selecting the simplest indicator, not on finding the best Forex trend indicator. If you could only do it till here, you will see that the best Forex trend indicator that even the biggest companies are yet to find was actually developed hundreds of years back when they learnt to connect two points and make a simple moving line, either going up or coming down. This is what makes the market; this is what makes an Indicator and this precisely is what makes the moving trend.
Best Forex strategies for beginners