3 Reliable Forex Indicators to Use

There are a lot of forex indicators available in the trading arena but there are a few that I personally love to use as I find them more reliable compared to the other indicators.

Below are the 3 forex indicators that I find reliable:

1) The Bollinger Bands - The Bollinger bands are made up of an upper and a lower band. These are taken as area of support and resistance and you will usually find the price respecting them and get repelled by them. Due to the consistency of this indicator, you can make use of their upper and lower bands to scalp the market.

The Bollinger bands are also good breakout tool to use. The width of the bands can help to identify whether the market is currently in consolidation or breakout.

2) MACD (Moving Average Convergence Divergence) - This is another indicator that is very consistent in its performance. You can use the MACD to help you understand the current trend of the market, verify a breakout and identify point of reversal.

As this indicator has so many features, it is one of my favourite to use.

3) Stochastic - Some of you may think that the Stochastic works about the same as the RSI. However the Stochastic is made up of 2 lines and the crossover can help to indicate a buy or sell signal while a RSI cannot.

If you are still wondering what indicators to use in your trading, these are 3 that you should seriously consider adding to your trading toolkit.