MetaTrader 4 Indicators which Forex Traders Should Capitalize for...

MetaTrader 4 Indicators which Forex Traders Should Capitalize for Better Technical Analysis

Capital Markets CIO Outlook | Saturday, August 04, 2018

The inception of the cutting-edge electronic trading platform MetaTrader 4 is easily one of the greatest accomplishments in retail foreign exchange history, at least in the recent years. Developed by MetaQuotes Software back in 2005, MetaTrader 4 has significantly empowered foreign exchange brokers and traders alike. Research has revealed that four key MetaTrader 4 indicators need to be utilized to the best possible extent by forex traders and researchers. These include Moving Average Convergence Divergence (MACD), Money Flow Index (MFI), On-Balance Volume (OBV) and Accumulation/Distribution Line. The MACD approach is instrumental in the comparison of two average prices and delivering interesting insights that help in vaguely understanding the future of a commodity. Adoption of MACD helps in predicting the futuristic price of a particular asset with significant accuracy.

OBV, on the other hand, is quite useful in comprehending the futuristic price of a stock based on its volume. Although the metric was first introduced by eminent financial writer Joseph Granville in the 1960s, it continues to be quite relevant even today and continues to be a popular prediction tool among forex pundits. Finance industry veterans opine that traders must also capitalize on the benefits of MFI and Accumulation/Distribution Line in the days to come. Distribution line is an approach that really helps in understanding money flow in a security. In general, as of 2018, these indicators have been helpful in understanding current market trends.

Apart from the indicators mentioned above, several finance experts suggest the wide utilization of the Relative Vigour Index Indicator to steer ahead of competitors. The indicator has been quite useful in understanding uptrends and downtrends, which help experts decipher prices. To be precise, an uptrend indicates that the prices would close high and downtrends reflect the possibility of prices closing low in the near future.  

See Also: CIO Review | Veruna

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