Forex trading is one of the most popular forms of making money - especially for professional traders, who have gained sufficient experience in this field. With FX trading, you can effectively make ends meet, test new strategies and simply learn more about the financial markets. This is a trend that is only increasing with time and recent events are proof of that.

Many novice traders at the beginning of trading are faced with the difficulty of how to carry out technical analysis easily and correctly since it contains a huge number of complex methods and techniques of analysis. This is an important moment because novice traders do not often understand the essence of indicators, trading platforms and other things.

Alternatively, you can spend time and devote it to studying technical analysis, but as a way out of the situation, you can use helpers and make your life much easier. Such assistants are technical indicators - thanks to which you can analyze any trading instrument, for any period of time. Now there are a huge number of them and it is quite difficult to choose a really effective one. In the following article we will offer really proven indicators that are worth using.

Moving Average or Moving Average Lines

This indicator refers to trend indicators. At the moment, this is one of the most convenient tools that a trader should have in his arsenal. With its help, you can find out the average value of the price of the desired trading asset for a certain period of time. If the price changes, then its average value also changes.

Moving averages are frequently used by traders who are in the business for quite some time. You can easily manoeuvre, apply new strategies and on the whole, improve the trading process.

Elliot Wave

According to Elliott Wave Theory, the market is constantly in one of two phases, so it can be bearish or bullish. In Forex Elliot Wave for trading is a frequently used indicator, that a lot of traders turn to. Here is the main description of Elliot Wave.

All movements are divided into waves of different levels:

• Five in the direction of the main trend.
• Three in the opposite direction.

Also, all formation data are divided into impulsive ones, which create a unidirectional trend (upward or downward) and force prices to move actively, and into corrective (rollbacks), in which the price goes against the current trend. The theory assumes the principle of nesting of waves, when any of them is a component of a longer one and itself is divided into shorter ones.

Each is divided into 3 or 5 smaller ones, depending on the direction of the larger wave formation of which it is a part.

The principle states that each impulse wave includes five smaller pieces, and each corrective (against the current trend) - three. So, if it includes five smaller ones, then it is impulsive and creates a trend.

The main difficulty in Elliott Waves lies in the identification of all these formations. Typically, the most difficult thing to do in practice is to identify corrective rises.

Ichimoku Indicator

The Ichimoku indicator is a trend indicator that is highly efficient at any time intervals, and most importantly, it is suitable for any currency pair. It consists of five lines, which in the future can become powerful levels of support and resistance. It certainly improves the accuracy of forecast price moves.

Heiken Ashi Indicator

The following indicator helps to understand the true direction of the trend, despite the high volatility in the market, as well as eliminate false breakouts. The Heiken Ashi indicator might be difficult to understand at the first glance, but by following it thoroughly and reading different reviews you can quickly grab the basics and incorporate them into your trading strategy.

Alligator Indicator

It is also advisable to pay attention to the Alligator indicator, thanks to which you can assess the direction of the market movement and learn about the emergence of a new trend. The main purpose of the indicator is to seek out trends and to determine possible entry and exit points of your Forex trade.

Fibonacci Level Indicator

You have probably heard about Fibonacci who is widely known in science and in particular, maths. Using it, you can pre-select and set an immediate entry point to trading. It can be used in any direction of the Forex market, and even regardless of timeframes.

Fibonacci numbers are known to numerous people around the world. Fibonacci levels are frequently used in Forex trading to identify and trade off support and resistance levels.

Key Points

This is just a small number of indicators that are worth paying your attentio. It is best for a novice trader to look at the ready-made analytical reviews and forecasts, pay attention to what indicators and analysis methods are used there, and only then independently test the ones they like and are suitable for your trading asset.

Also, pay attention to another direction - investing in Forex, which does not require you either time or super knowledge, you just need to choose a sensible manager of your account and just make a profit!