Today, there are many indicators that help determine more accurate signals for opening and closing transactions in the Forex market. Their main function is to provide the trader-analyst with information about exchange rates in a certain form, which will help the currency speculator to make the right decision. It should be noted that the creation of indicators is carried out not only by financial analysts and specialists, but also by traders themselves. Moreover, often, the latter do this solely based on current needs.
Most of the standard indicators that are available on trading platforms are mainly used by beginners. Those who have been engaged in currency speculation for a long time prefer their own developments. Also, many inexperienced traders often make the mistake of using indicators that they know practically nothing about. In addition, often newly minted currency speculators do not even test the indicator before using it in their work.
As for the types of indicators, there are only a few of them. And they are divided into those that work with the trend, against the trend, as well as in the flat. There are also indicators that help the trader to determine the state of the market at the moment, as well as tools for measuring the strength of the trend.