The new forex indicators that I want to tell you about in this article were created last year and have already passed quite successful preliminary testing. I recommend you meet them. Perhaps these new forex indicators can form the basis of your trading strategy or a useful addition to your existing TS.
Phoenix indicator
It belongs to the category of arrow indicators, which are very easy to use in their trading. Phoenix does use mugs instead of arrows, but it’s not that important. Its algorithm includes the readings of three indicators: Bollinger Channel, Moving Averages and Momentum. These are the indicators that are present in MT4 by default. The combined analysis of their signals allows Phoenix to form an optimal point of entry into the market and inform the trader about it. The only disadvantage of this indicator is the large number of parameters in the settings. It can be difficult for a novice trader to understand them right away. But that won’t be a problem over time.In the chart Phoenix looks as follows:
Red circles – sell, buy green circles. I do not recommend trading solely on these signals. We need to find a filter.Download new forex indicator Phoenix:Phoenix
StochRSI indicator
The one who already has trading experience, probably guessed by the name that it is based on the readings of very popular oscillators, which are stochastic and RSI. Such a combination could be seen in different indicators for a long time. However, the StochRSI is the last and best option. It eliminates the previously observed disadvantages, which allows you to effectively use the indicator in trade.
Settings should be easy for you. They are essentially the same as stochastic and RSI settings, but slightly modified.With the help of the Rprice parameter we set the price type for RSI and its period – Rperiod.A periods for stochastics are specified in Kperiod, Dperiod and Slowing.
When it comes to using StochRSI in trading, the rules remain the same. It is recommended to buy when the indicator is in the oversold area, and sell – in the overbought area. You can also track the divergence. StochRSI can successfully cope with the task of filtering signals coming from other technical analysis tools.Download StochRSI:indicatorStochRSI
These new forex indicators are available for understanding and application in trading even for beginners. But before you go into real trading with them, you should test the work of the indicators on a demo account.27.06.2018