Having just recieved an email saying something along the lines of; “I love the fact you have all these free indicators but which ones are forex indicators?”, I thought I should write something on the subject.
The reality is that any indicator can be a “forex indicator”. An indicator is just a technical tool and despite what some forex robot sellers would like you to believe. It is not some secret insight into a specific market.
Naturally, some indicators would look better as forex indicators due to the type of price action that FX pair experiences but even with in the world of currency trading you get different types of price action. Just look at the different fx pairs and you will see how some are more choppy and some are more swinging. Some are really slow whilst some experience high trading volume and are more volatile.
If you look at the charts below, can you tell which one is a forex chart and which one is an index chart? I think most would be hard pushed to say one way or another and more importantly would be hard pushed to say if the indicator on the charts is therefore a futures indicator or a forex indicator.
So I wouldn’t worry too much about which indicators are forex indicators which are not. Be more concerned with which one display the price action in way that helps you trade in more effective way.
Visit out selection of “Forex Indicators” where you can search all MT4 Indicators by A-Z to download for free.
If you want to know the answer to the questioin about which chart was the fx chart and which was the index futures chart go to the search box in the header and type in Question Answers and you should find the page with the answer on.