A forex indicator is a statistical tool that currency traders use to make judgements about the direction of a currency pair’s price action. Forex indicators come in many types, including leading indicators, lagging indicators, confirming indicators and so on. A forex trader must choose the indicators that fit his or her trading strategy. In this section, we provide traders with some of the best ones out there.
Many forex traders spend their time looking for that perfect moment to enter the markets or a telltale sign that screams “buy” or “sell”. Successful traders must learn that there are a variety of indicators that can help to determine the best time to buy or sell a forex cross rate.
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An expert advisor (EA) is a software program that analyzes data and provides a trader with buy and sell recommendations that fit within the trader’s strategy. Much like a trader, an expert advisor analyzes historical data and forecasts future price movements using this data. Unlike a human trader, expert advisors are able to integrate a huge amount of data and process it very quickly for the purpose of forecasting.