Catch Trend If You Can With These Forex Indicators
Recognizing positive trends in any market is difficult and in the forex market, getting in or out too late could mean your entire bankroll. You do not have to be the best of the best in order to make a profit, but you do need to get in at a low enough point and get out at a high enough point to make a profit. If you do not recognize the right forex trading signals, you will wind up getting buried and be out of the game before you ever even got your feet wet.

In this forex training on trend following forex indicators, we will start with using crossover techniques that are specifically aimed and recognizing new trends that are developing. Some of the more popular are using the MACD and moving averages.

If you are looking for an example, when the EMA (5) crosses with the EMA (20), you have the crossing of a long term trend with a short term trend that is showing a direction of profitability. You can use the same principles when looking at the MACD crossover and over time, you will learn to pick up these trends earlier and earlier leading to more opportunities for profit.

At this writing, a perfect example of this occurred. During the market today, the 4 hours chart of the GPB/USD pairing had the TRIX (15,9) moving dramatically upwards. At one point, it had actually gone up 100 points. This is a prime example of a great money making opportunity in a forex market.

Two other popular trend following free forex indicators are the ADX and Supertrend.

The Supertrend model was developed specifically for spotting trends in the forex market and is extremely effective. That should be apparent by the name! The ADX is also very popular and has led to spotting very profitable situations over the years. Noticing a crossing at the 17-23 level (we use 20) is a great indication of situation that you will want to look at. Noticing where it is crossing on the DI- and DI+ line will allow you to figure out if you should purchase or get out if you are already involved in an investment.

Learning at least one trend indicator is a necessity, but learning multiple ones can only lead to good things. Like anything else, if you have more than one successful way to read a situation, you can look for a time when all of these forex signals that the time is right to get in or out of your forex investment. If you have conflicting information, you know you should stay away and wait for a better opportunity to risk your money.

---- by; Daniel S ---------

Interpretation
Speed Resistance Lines are used to define price support levels. For example, if a security is in a rising trend, its price will usually stay above the 2/3 Speed Line. If prices do penetrate the 2/3 line, they will generally fall all the way to the 1/3 line before regaining support.
Speed Resistance Lines or SRL, also known as Speedlines, are tools to find possible support and resistance levels for an existing trend. SRL were developed by Edson Gould and is similar to Fibonacci Fans indicator. Speed resistance lines combine trend lines and percentage retracements to predict support/resistance levels and also measures the speed of a developing trend.

A set of Speedlines consists of three lines originated from same point at left and are extended to the right side. The first line is created by connecting a recent low to a recent high (in an uptrend) and a recent high to a recent low (in a downtrend). Now a vertical line is plotted covering the vertical difference between the low and high. The second and third lines are plotted in a way that they originate from the same point of first line origin and intersect 1/3 and 2/3 levels of the vertical line. Traders can plot more than one set of SRLs on same chart as the trend develops and new highs/lows are formed. Also many traders use 1/2 or 50% lines to find trend changes.

When the price is in somewhere between two of these lines, the upper line is considered as resistance and lower line is considered resistance. If mid line is crossed (from above/below), the new upper and lower lines become support and resistance levels. Generally if prices cross a line, they fall speedily to the next line. Sell signals are generated in an uptrend when the price cross third (lower) line from above; and buy signals are generated in an downtrend when the price cross third (upper) line from below.

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ZigZagOnParabolic MetaTrader indicator — has been designed based on the 2 standard and popular MT4 indicators — The ZigZag and the Parabolic SAR[PSAR], it tries to show a better version of the ZigZag indicator by marking the Extreme Point of the price with a little delay as compared to the original ZigZag. Standard ZigZag looks for new extreme points by searching the percentage deviation of the price from the previous extreme point[highest or lowest]. The new ZigZag does so by using a different technique and based on the PSAR indicator. It looks at the Parabolic SAR indicator. Both ZigZag and the Parabolic SAR are drawn on top of the chart. The little delay in this new ZigZag is for the better and not for the worst. For all those who used the standard zigzag, they will know how unreliable it is on that chart.

Input parameters of the indicator:

Step (default = 0.02) — standard Parabolic SAR indicator setting.
Maximum (default = 0.2) — another standard Parabolic SAR indicator setting.
ExtremumsShift (default = true) — if true then the extremes are shown at their actual places; if false then the extremes are shown at the points in time when they were detected. Useful to see the delay between the actual extremum appearance and its detection point.
History (default = 0) — the amount of bars to use for calculation of the indicator. Change only if your PC is really slow. 0 — all bars are used in the calculation.

Although the standard ZigZag indicator cannot be used to for trade entries as it is very unreliable, this new improved zigzag indicator can be used as entry or exits. Can be used to detect support and resistance levels as well.

Here is one of the simplest way we could use this indicator to identify support and resistance levels and trade them as they break. Now adding some pivots and fibos together to it could produce some great results I believe. This will be almost a pure price action based system.

Most of the bad trades will have the opportunity to close at breakeven. Now, with the added fibos etc.. or maybe overbought and oversold indicators... they may allow us to avoid some of the bad breaks, therefore avoiding to trade them.

--- by ; bossxero's FxWarrior -----

Schaff Trend: A Faster And More Accurate Indicator
The Schaff Trend Cycle Indicator is the product of combining Slow Stochastics and the Moving Average Convergence/Divergence (MACD). The MACD has a reputation to be a trend indicator, yet it has an equal reputation to be lagging due to its slow responsive signal line. The improved signal line gives the STC its relevance as an early warning sign to detect currency trends.

How the STC Works
The STC detects up and down trends long before the MACD. It does this by using the same exponential moving averages (EMAs), but adds a cycle component to factor currency cycle trends. Since currency cycle trends move based on a certain amount of days, this is factored into the equation of the STC Indicator to give more accuracy and reliability than the MACD.

Since the MACD is nothing more than a series of EMAs with a signal line, the STC has improved on the MACD. MACD has a 12- and 26-period EMA with a nine-period signal line. STC Indicator improved on this by incorporating a 23- and 50-period EMA with a cycle component used as the 10-period signal line. Since we can factor cycle trends based on X amount of days, we can then know how far and how long a trend lasts in terms of potential pips to earn.

In terms of indicators both old and new, the STC Indicator is quite original in its conception. Never before has an indicator been developed using a cycle component. Most use some form of moving average, particularly EMAs, as a base because it's easier to calculate and it focuses on recent prices rather than a simple moving average's long data set of closing prices. (Learn more about stochastics )

STC Development
The STC Indicator was developed primarily for fast markets, particularly currency markets, yet it can be employed in any market.The trend in the modern day is to develop more accurate, reliable and early warning signal detectors to follow prices more accurately using the old models. The invention of the computer made it able to capture speed, accuracy and reliability of prices more uniformly, because the computer eliminated the need to calculate long equations using pen and paper. So, any new modern indicator will always have a higher reliability factor when a signal is generated.

However, as reliable as the STC Indicator may be, never will an indicator be perfect. The reliability factor may be higher but slight problems exist because of the STC's ability to stay in overbought and oversold markets for extended periods. For this reason, the STC Indicator should be used for its intended purpose: to follow the signal line up and down and take profits when the signal line hits bottom or top. Eventually another signal will generate.

An Example
The technical code for the STC works like this. Inputs: TCLen (10), MA 1 (23), MA 2 (50). Plot 1 (_SchaffTC(TCLen.MA1, MA2), Schaff_TLC. Plot 2 (25). Plot 3 (75).


Source: Standard Pro Charts
Take a look at the hourly chart of the GBP/JPY, the granddaddy of currency pairs. The MACD generates its signal when the MACD line crosses with the signal line. The STC Indicator generates its buy signal when the signal line turns up from 25 to indicate a long or turns down from 75 to indicate a short. Notice how many more signals the STC generated compared to MACD. It served as an early warning of trend change on the far left with the long red candle. A sell signal was generated at 142.50 and stopped at 139.50, a 300 pip move. While the MACD lines hovered around 140, the STC line generated a buy signal at about 140.00 and stopped at 142.45, a 245 pip move. The next sell signal was generated at about 144.00 and lasted until 141.50, a 250 pip move. These moves occurred ahead of the buy and sell signals generated by MACD.

Indicator Issues
Notice how many times the STC line resulted in a straight line to signal an overbought or oversold market. One certain aspect is that oversold markets will eventually become overbought and overbought markets will become oversold, especially when it comes to the currency cycle aspects of this indicator. Yet that is not a signal generator. Overbought or oversold markets represented by a straight line can in many instances still represent 200 points on the upside, as it did at the overbought mark at 14:00 in the middle of the chart. This is the small problem with the STC Indicator. The recommendation is to wait for the signal before jumping in.

One can increase the cycle count signal line from 10 and adjust upwards to fit the exact market. This would represent smaller market turns and a more accurate reading. Caution is advised not to increase the cycle count higher than 40, since that is the maximum currency count. One can also adjust downward to generate many market turns, but they may not be accurate signals. For longer time framed charts such as the weekly, it is recommended to adjust the EMAs to 12 and 26 or 7 and 13, and allow the same amount of cycle counts at 20 as the signal line. For shorter time frames, such as the 10-minute chart, increase the EMAs to 115 and 240, and allow the same cycle count. A personal recommendation is to allow the indicator to work as intended with the recommended settings, especially when it comes to cycle counts. Better to adjust the EMAs rather than the cycle count trigger line if one has to adjust at all.

Conclusion
The inventor of the STC Indicator allowed the full knowledge of formulas and codes to be released in 2008, so the trading public is now becoming aware of its use as an early warning trend signal. I have personally used and profited from its use on many occasions, and I have personally used the recommended settings. The interesting aspect is that this indicator is forward-looking, and is considered a leading indicator. This means false signals are very rare if ever generated. Plus, signals are generated much faster than the old indicators, such as MACD. For another recommended indicator that works as intended, this is a good one.

---- by Brian Twomey ------

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DSS Bressert - Double Smoothed Stochastic Indicator by Walter Bressert

Description
One after the other, William Blau and Walter Bressert each presented a version of the Double Smoothed Stochastics. Two exponentially smoothed MAs are used to even out the input values (H, L and C), in a similar way to the well-known stochastic formula.

Calculation of the DSS indicator according to Bressert is similar to stochastics.

1.) The numerator: first the difference between the current close and the period low is formed. The denominator: here the difference between the period high minus the period low is calculated. Now the quotient of numerator and denominator is calculated, exponentially smoothed and then multiplied by 100.
2.) The method is analogous to 1.) with the distinction that now the prices of the newly calculated price series of 1.) is used.

Parameters
The adjustable period length can be chosen from 2 to 500. The most common settings will have a period length ranging from 5 to 30. In addition, the indicator can be smoothed in the interval from 1 to 50. Meaningful smoothing values lie in the short-term range.

Interpretation
The application of the DSS is comparable with that of the stochastic method. Accordingly, values above 70 or 80 must be regarded as overbought and values below 20 or 30 as oversold. A rise of the DSS above its center line should be viewed as bullish, and a fall of the DSS below its center line as bearish.


---- by; Trading Online / tradesignal GmbH -------

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How To Use BrainTrading System
BrainTrading System indicator package includes four main independently calculated indicators: BrainTrend1, BrainTrend1Stop, BrainTrend2, BrainTrend2Stop and four auxiliary indicators used for pictorial presentation of main indicators: BrainTrend1Sig, BrainTrend1StopLine, BrainTrend2Sig, BrainTrend2StopLine.

IMPORTANT! (BrainTrend1, BrainTrend1Sig, BrainTrend1Stop, BrainTrend1StopLine), (BrainTrend2, BrainTrend2Sig, BrainTrend2Stop, BrainTrend2StopLine), (BrainTrend1, BrainTrend1Sig, BrainTrend1Stop, BrainTrend1StopLine, BrainTrend2Sig, BrainTrend2Stop, BrainTrend2StopLine) are priority groups of indicators of the BrainTrading System

BrainTrend1 and BrainTrend2 are market “DIRECTION” indicator. It shows trend direction by colors, when the market changes to or stays in an up-trend, the bars become or remain BLUE. When the market changes to or stays in a downtrend, the bars become or remain RED. When the market goes sideways or is not strong on either side, the bars become or remain GREEN. BrainTrend1 and BrainTrend2 indicators can work with any time bar charts.

IMPORTANT! Don’t use BrainTrend1 and BrainTrend2 indicators on one chart at the same time. You need to use BrainTrend1 indicator as main on all charts and use BrainTrend2 as confirmative indicator in separate chart window.

BrainTrading system indicator Chart


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