What is the Best Technical Indicator in Forex?
(Taken from Babypips.com School of Pipsology)
Just how profitable is each technical indicator on its own? After all, forex traders don’t include these technical indicators just to make their charts look nicer. Traders are in the business of making money!
If these indicators generate signals that don’t translate into a profitable bottom line over time, then they’re simply not the way to go for your needs! In order to give y’all a comparison of the effectiveness of each technical indicator, we’ve decided to backtest each of the indicators on their own for the past 5 years.
1. It can trade while you sleep!
2. It is not vulnerable to emotions.
3. You can run backtests quickly.
4. It reacts to quick market movements instantly.
5. It isn’t prone to human error.
Essentially both these tools will help you be more profitable in your trading career jus use them wisely and incorporate as needed in your trading strategy.