What Are the Most Profitable Forex Indicators?
Find out what the best forex indicators are for intraday trading. Find a brief explanation of MACD and how the Moving Average Indicator is divided into two.
Published August 30, 2021.
One of the Best Forex Indicators: MACD
One of the best Forex indicators forex traders still use is MACD (Moving Average Convergence Divergence). While being relatively old, as it was invented in 1979, MACD was developed by Gerald Appel to solve the problem of guesswork that most newbie traders battle with. Still, it has stood the test of time and is widely used today by new and experienced traders alike.
Modern Indicator: Moving Average
While MACD is great, it's still slightly outdated, and a more modern indicator would be the Moving Average for MT4.
The Moving Average indicator is usually divided into two main types:
- Simple Moving Average (SMA)
- Exponential Moving Average (EMA).
Both can be profitable and are worth looking into.
In Conclusion: Best Intraday Indicators
MACD and Moving Average could be widely regarded as one of the best intraday indicators. These two offer reliable information about the market's current state and the direction it's headed in, so they're worth looking into.