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TEN POPULAR FOREX TRADING INDICATORS

By Your Trading Mentor,

Trading Angel

There are many technical indicators used in forex trading, and the popularity of each one can vary depending on the trader’s preferences and trading strategies. That being said, here are ten of the most popular technical indicators used in forex trading:

1. Moving averages (MA)
2. Relative strength index (RSI)
3. Fibonacci retracement
4. Bollinger bands
5. Stochastic oscillator
6. MACD (Moving Average Convergence Divergence)
7. Ichimoku Kinko Hyo
8. Average directional index (ADX)
9. Parabolic SAR (Stop and Reverse)
10. Williams %R

These indicators can be used to analyse price trends, identify potential entry and exit points, and assess the strength of market momentum. It’s important to note that no single indicator can guarantee profitable trades, and traders often use a combination of indicators to gain a more complete understanding of market conditions.

Now let’s break these down and have a look at how traders like to use these technical indicators

Moving averages (MA)

Forex traders use moving averages (MAs) to identify trends and potential entry and exit points in the market. A moving average is a technical indicator that calculates the average price of a currency pair over a specified period of time. Here are some ways forex traders use moving averages:

1. Identifying trends: Traders use moving averages to determine the direction of the trend. If the price is above the moving average, it is considered an uptrend, and if the price is below the moving average, it is considered a downtrend. Traders may use different time frames for the moving average to identify short-term or long-term trends.

2. Support and resistance levels: Moving averages can act as support and resistance levels. If the price is above the moving average, it may act as a support level, while if the price is below the moving average, it may act as a resistance level.

3. Crossovers: Traders use moving average crossovers to identify potential entry and exit points. When a shorter-term moving average crosses above a longer-term moving average, it may indicate a buy signal, while a crossover to the downside may indicate a sell signal.

4. Momentum: Traders may use moving averages to assess the strength of market momentum. If the price is above the moving average and the moving average is sloping upwards, it may indicate a strong bullish momentum, while if the price is below the moving average and the moving average is sloping downwards, it may indicate a strong bearish momentum.

Overall, moving averages can provide valuable information to forex traders, allowing them to make informed trading decisions based on price trends and market momentum.

Relative strength index (RSI)

Forex traders use the relative strength index (RSI) as a momentum indicator to identify overbought and oversold conditions in the market. The RSI is a technical indicator that measures the strength of a currency pair’s price action by comparing the average gains and losses over a specified period of time. Here are some ways forex traders use the RSI:

1. Overbought and Oversold Levels: The RSI ranges from 0 to 100 and is typically considered overbought when the RSI is above 70 and oversold when the RSI is below 30. When the RSI is in these extreme levels, it may indicate that the currency pair is overbought or oversold, respectively, and a reversal in price may be imminent.

2. Divergence: Forex traders may use RSI divergence to identify potential trend reversals. If the price is making higher highs, but the RSI is making lower highs, it may indicate that the bullish momentum is weakening, and a trend reversal may be imminent. Conversely, if the price is making lower lows, but the RSI is making higher lows, it may indicate that the bearish momentum is weakening, and a trend reversal may be imminent.

3. Centerline Crossovers: Traders may use RSI centerline crossovers to identify potential buy and sell signals. When the RSI crosses above the 50 level, it may indicate a bullish signal, while a crossover below the 50 level may indicate a bearish signal.

4. RSI Trendlines: Some traders use trendlines to identify potential support and resistance levels for the RSI. If the RSI is trending higher and remains above a trendline, it may indicate a bullish trend, while a downward trendline may indicate a bearish trend.

Overall, the RSI is a versatile indicator that can provide valuable insights into market conditions and help forex traders make informed trading decisions based on price momentum.

Fibonacci retracement

Forex traders use Fibonacci retracement levels as a technical analysis tool to identify potential support and resistance levels in a currency pair’s price movement. Fibonacci retracement is based on the idea that after a significant price move, the price will often retrace a predictable portion of that move before continuing in the original direction. Here are some ways forex traders use Fibonacci retracement:

1. Identifying Support and Resistance Levels: Forex traders use Fibonacci retracement levels to identify potential support and resistance levels. The retracement levels are calculated by drawing a line from the high point to the low point of a significant price move and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8%, and 100%. These retracement levels may act as support levels if the price is trending higher or resistance levels if the price is trending lower.

2. Entry and Exit Points: Traders may use Fibonacci retracement levels to identify potential entry and exit points. If the price is nearing a Fibonacci retracement level that has acted as support or resistance in the past, it may indicate a potential entry or exit point for the trader.

3. Trend Continuation: Forex traders may use Fibonacci retracement levels to confirm the continuation of a trend. If the price retraces to a Fibonacci retracement level and then bounces back in the original direction, it may indicate that the trend is likely to continue.

4. Stop Loss Placement: Traders may use Fibonacci retracement levels to determine where to place stop-loss orders. If the price retraces to a Fibonacci retracement level and then continues in the opposite direction, it may indicate that the trend is reversing, and the trader may want to exit the trade.

Overall, Fibonacci retracement levels can be a useful tool for forex traders to identify potential support and resistance levels, entry and exit points, and stop loss placement. However, traders should use Fibonacci retracement levels in conjunction with other technical analysis tools and fundamental analysis to make informed trading decisions.

Bollinger bands

Forex traders use Bollinger Bands as a technical analysis tool to measure volatility and identify potential entry and exit points in a currency pair’s price movement. Bollinger Bands consist of a center line, typically a 20-day simple moving average, and two outer bands that are two standard deviations away from the center line. Here are some ways forex traders use Bollinger Bands:

1. Volatility: Forex traders use Bollinger Bands to measure the volatility of a currency pair’s price movement. When the bands are close together, it indicates low volatility, while when the bands are far apart, it indicates high volatility.

2. Support and Resistance Levels: Traders use Bollinger Bands to identify potential support and resistance levels. If the price is near the upper band, it may indicate that the currency pair is overbought, and a reversal in price may be imminent. Conversely, if the price is near the lower band, it may indicate that the currency pair is oversold, and a reversal in price may be imminent.

3. Breakouts: Forex traders may use Bollinger Bands to identify potential breakouts. If the price breaks through the upper band, it may indicate a bullish breakout, while a breakout below the lower band may indicate a bearish breakout.

4. Trend Continuation: Traders may use Bollinger Bands to confirm the continuation of a trend. If the price is trending higher and remains near the upper band, it may indicate that the bullish trend is likely to continue. Conversely, if the price is trending lower and remains near the lower band, it may indicate that the bearish trend is likely to continue.

Overall, Bollinger Bands can be a useful tool for forex traders to measure volatility, identify potential support and resistance levels, and confirm trend continuations and breakouts. However, traders should use Bollinger Bands in conjunction with other technical analysis tools and fundamental analysis to make informed trading decisions.

Stochastic oscillator

Forex traders use the Stochastic oscillator as a technical analysis tool to identify overbought and oversold conditions in the market. The Stochastic oscillator is based on the idea that as prices rise, closing prices tend to approach the high end of the day’s range, and as prices fall, closing prices tend to approach the low end of the day’s range.

The Stochastic oscillator consists of two lines: %K and %D. The %K line is the main line and is calculated by comparing the current closing price to the high-low range over a specified period of time. The %D line is a moving average of the %K line.

When the Stochastic oscillator is above 80, it is considered overbought, and when it is below 20, it is considered oversold. Traders use these levels as signals to buy or sell. For example, when the Stochastic oscillator crosses above 20, it is considered a buy signal, and when it crosses below 80, it is considered a sell signal.

Traders also look for divergences between the price and the Stochastic oscillator. A bullish divergence occurs when the price makes a lower low, but the Stochastic oscillator makes a higher low. This can be a signal of a potential reversal to the upside. A bearish divergence occurs when the price makes a higher high, but the Stochastic oscillator makes a lower high. This can be a signal of a potential reversal to the downside.

MACD (Moving Average Convergence
Divergence)

Forex traders use the Moving Average Convergence Divergence (MACD) indicator as a technical analysis tool to identify trend changes and potential entry and exit points. The MACD indicator is a trend-following momentum indicator that shows the relationship between two moving averages.

The MACD indicator consists of three components: the MACD line, the signal line, and the histogram. The MACD line is the difference between the 26-period exponential moving average (EMA) and the 12-period EMA. The signal line is a 9-period EMA of the MACD line. The histogram is the difference between the MACD line and the signal line.

Traders use the MACD indicator to identify bullish and bearish signals. A bullish signal occurs when the MACD line crosses above the signal line, indicating a potential trend reversal to the upside. A bearish signal occurs when the MACD line crosses below the signal line, indicating a potential trend reversal to the downside.

Traders also look for divergences between the price and the MACD indicator. A bullish divergence occurs when the price makes a lower low, but the MACD indicator makes a higher low. This can be a signal of a potential reversal to the upside. A bearish divergence occurs when the price makes a higher high, but the MACD indicator makes a lower high. This can be a signal of a potential reversal to the downside.

In addition, traders use the MACD histogram to identify changes in momentum. When the histogram is rising, it indicates that momentum is increasing, and when it is falling, it indicates that momentum is decreasing. Traders can use this information to identify potential entry and exit points.

Ichimoku Kinko Hyo

Forex traders use the Ichimoku Kinko Hyo (Ichimoku Cloud) indicator as a technical analysis tool to identify trends, support and resistance levels, and potential trading opportunities. The Ichimoku Cloud is a complex indicator that consists of several components, including the Kumo (cloud), Tenkan-sen (conversion line), Kijun-sen (base line), Chikou Span (lagging line), and Senkou Span A and B (leading span).

Traders use the Ichimoku Cloud to identify bullish and bearish signals. When the price is above the cloud, it is considered a bullish signal, and when the price is below the cloud, it is considered a bearish signal. Traders also look for crossovers between the Tenkan-sen and Kijun-sen lines. A bullish crossover occurs when the Tenkan-sen crosses above the Kijun-sen, indicating a potential trend reversal to the upside. A bearish crossover occurs when the Tenkan-sen crosses below the Kijun-sen, indicating a potential trend reversal to the downside.

Traders also use the Kumo to identify support and resistance levels. When the price is above the Kumo, it is considered a support level, and when the price is below the Kumo, it is considered a resistance level. Traders also look for crossovers between the Senkou Span A and B lines. A bullish crossover occurs when the Senkou Span A crosses above the Senkou Span B, indicating a potential bullish trend. A bearish crossover occurs when the Senkou Span A crosses below the Senkou Span B, indicating a potential bearish trend.

The Chikou Span is used to confirm signals by showing the current closing price in relation to historical price action. When the Chikou Span is above the price, it is considered a bullish signal, and when it is below the price, it is considered a bearish signal. Traders also look for crossovers between the Chikou Span and the price. A bullish crossover occurs when the Chikou Span crosses above the price, indicating a potential bullish trend. A bearish crossover occurs when the Chikou Span crosses below the price, indicating a potential bearish trend.

Average directional index (ADX)

Forex traders use the Average Directional Index (ADX) as a technical analysis tool to measure the strength of a trend. The ADX is part of the Directional Movement System, which includes the Plus Directional Indicator (+DI) and the Minus Directional Indicator (-DI).

The ADX ranges from 0 to 100, with readings above 25 indicating a strong trend and readings below 20 indicating a weak trend. Traders use the ADX to determine whether a currency pair is trending or trading in a range. A high ADX reading indicates a trending market, while a low ADX reading indicates a ranging market.

Traders also use the ADX to identify potential entry and exit points. When the ADX is rising, it indicates that the trend is gaining strength, and traders may look to enter a trade in the direction of the trend. When the ADX is falling, it indicates that the trend is losing strength, and traders may consider exiting a trade or avoiding new trades until the trend regains strength.

In addition, traders use the +DI and -DI indicators to identify the direction of the trend. When the +DI is above the -DI, it indicates a bullish trend, and traders may look to enter long positions. When the -DI is above the +DI, it indicates a bearish trend, and traders may look to enter short positions.

Traders also look for crossovers between the +DI and -DI indicators. When the +DI crosses above the -DI, it can be a buy signal, and when the -DI crosses above the +DI, it can be a sell signal. However, traders should not rely solely on these crossovers, and should also consider the strength of the trend as indicated by the ADX.

Parabolic SAR (Stop and Reverse)

When the Parabolic SAR dots are below the price, it indicates a bullish trend, and traders may look for long positions. When

There are many technical indicators used in forex trading, and the popularity of each one can vary depending on the trader’s preferences and trading strategies. That being said, here are ten of the most popular technical indicators used in forex trading:

1. Moving averages (MA)
2. Relative strength index (RSI)
3. Fibonacci retracement
4. Bollinger bands
5. Stochastic oscillator
6. MACD (Moving Average Convergence Divergence)
7. Ichimoku Kinko Hyo
8. Average directional index (ADX)
9. Parabolic SAR (Stop and Reverse)
10. Williams %R

These indicators can be used to analyze price trends, identify potential entry and exit points, and assess the strength of market momentum. It’s important to note that no single indicator can guarantee profitable trades, and traders often use a combination of indicators to gain a more complete understanding of market conditions.

Now let’s break these down and have a look at how traders like to use these technical indicators

Moving averages (MA)

Forex traders use moving averages (MAs) to identify trends and potential entry and exit points in the market. A moving average is a technical indicator that calculates the average price of a currency pair over a specified period of time. Here are some ways forex traders use moving averages:

1. Identifying trends: Traders use moving averages to determine the direction of the trend. If the price is above the moving average, it is considered an uptrend, and if the price is below the moving average, it is considered a downtrend. Traders may use different time frames for the moving average to identify short-term or long-term trends.

2. Support and resistance levels: Moving averages can act as support and resistance levels. If the price is above the moving average, it may act as a support level, while if the price is below the moving average, it may act as a resistance level.

3. Crossovers: Traders use moving average crossovers to identify potential entry and exit points. When a shorter-term moving average crosses above a longer-term moving average, it may indicate a buy signal, while a crossover to the downside may indicate a sell signal.

4. Momentum: Traders may use moving averages to assess the strength of market momentum. If the price is above the moving average and the moving average is sloping upwards, it may indicate a strong bullish momentum, while if the price is below the moving average and the moving average is sloping downwards, it may indicate a strong bearish momentum.

Overall, moving averages can provide valuable information to forex traders, allowing them to make informed trading decisions based on price trends and market momentum.

Relative strength index (RSI)

Forex traders use the relative strength index (RSI) as a momentum indicator to identify overbought and oversold conditions in the market. The RSI is a technical indicator that measures the strength of a currency pair’s price action by comparing the average gains and losses over a specified period of time. Here are some ways forex traders use the RSI:

1. Overbought and Oversold Levels: The RSI ranges from 0 to 100 and is typically considered overbought when the RSI is above 70 and oversold when the RSI is below 30. When the RSI is in these extreme levels, it may indicate that the currency pair is overbought or oversold, respectively, and a reversal in price may be imminent.

2. Divergence: Forex traders may use RSI divergence to identify potential trend reversals. If the price is making higher highs, but the RSI is making lower highs, it may indicate that the bullish momentum is weakening, and a trend reversal may be imminent. Conversely, if the price is making lower lows, but the RSI is making higher lows, it may indicate that the bearish momentum is weakening, and a trend reversal may be imminent.

3. Centerline Crossovers: Traders may use RSI centerline crossovers to identify potential buy and sell signals. When the RSI crosses above the 50 level, it may indicate a bullish signal, while a crossover below the 50 level may indicate a bearish signal.

4. RSI Trendlines: Some traders use trendlines to identify potential support and resistance levels for the RSI. If the RSI is trending higher and remains above a trendline, it may indicate a bullish trend, while a downward trendline may indicate a bearish trend.

Overall, the RSI is a versatile indicator that can provide valuable insights into market conditions and help forex traders make informed trading decisions based on price momentum.

Fibonacci retracement

Forex traders use Fibonacci retracement levels as a technical analysis tool to identify potential support and resistance levels in a currency pair’s price movement. Fibonacci retracement is based on the idea that after a significant price move, the price will often retrace a predictable portion of that move before continuing in the original direction. Here are some ways forex traders use Fibonacci retracement:

1. Identifying Support and Resistance Levels: Forex traders use Fibonacci retracement levels to identify potential support and resistance levels. The retracement levels are calculated by drawing a line from the high point to the low point of a significant price move and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8%, and 100%. These retracement levels may act as support levels if the price is trending higher or resistance levels if the price is trending lower.

2. Entry and Exit Points: Traders may use Fibonacci retracement levels to identify potential entry and exit points. If the price is nearing a Fibonacci retracement level that has acted as support or resistance in the past, it may indicate a potential entry or exit point for the trader.

3. Trend Continuation: Forex traders may use Fibonacci retracement levels to confirm the continuation of a trend. If the price retraces to a Fibonacci retracement level and then bounces back in the original direction, it may indicate that the trend is likely to continue.

4. Stop Loss Placement: Traders may use Fibonacci retracement levels to determine where to place stop-loss orders. If the price retraces to a Fibonacci retracement level and then continues in the opposite direction, it may indicate that the trend is reversing, and the trader may want to exit the trade.

Overall, Fibonacci retracement levels can be a useful tool for forex traders to identify potential support and resistance levels, entry and exit points, and stop loss placement. However, traders should use Fibonacci retracement levels in conjunction with other technical analysis tools and fundamental analysis to make informed trading decisions.

Bollinger bands

Forex traders use Bollinger Bands as a technical analysis tool to measure volatility and identify potential entry and exit points in a currency pair’s price movement. Bollinger Bands consist of a center line, typically a 20-day simple moving average, and two outer bands that are two standard deviations away from the center line. Here are some ways forex traders use Bollinger Bands:

1. Volatility: Forex traders use Bollinger Bands to measure the volatility of a currency pair’s price movement. When the bands are close together, it indicates low volatility, while when the bands are far apart, it indicates high volatility.

2. Support and Resistance Levels: Traders use Bollinger Bands to identify potential support and resistance levels. If the price is near the upper band, it may indicate that the currency pair is overbought, and a reversal in price may be imminent. Conversely, if the price is near the lower band, it may indicate that the currency pair is oversold, and a reversal in price may be imminent.

3. Breakouts: Forex traders may use Bollinger Bands to identify potential breakouts. If the price breaks through the upper band, it may indicate a bullish breakout, while a breakout below the lower band may indicate a bearish breakout.

4. Trend Continuation: Traders may use Bollinger Bands to confirm the continuation of a trend. If the price is trending higher and remains near the upper band, it may indicate that the bullish trend is likely to continue. Conversely, if the price is trending lower and remains near the lower band, it may indicate that the bearish trend is likely to continue.

Overall, Bollinger Bands can be a useful tool for forex traders to measure volatility, identify potential support and resistance levels, and confirm trend continuations and breakouts. However, traders should use Bollinger Bands in conjunction with other technical analysis tools and fundamental analysis to make informed trading decisions.

Stochastic oscillator

Forex traders use the Stochastic oscillator as a technical analysis tool to identify overbought and oversold conditions in the market. The Stochastic oscillator is based on the idea that as prices rise, closing prices tend to approach the high end of the day’s range, and as prices fall, closing prices tend to approach the low end of the day’s range.

The Stochastic oscillator consists of two lines: %K and %D. The %K line is the main line and is calculated by comparing the current closing price to the high-low range over a specified period of time. The %D line is a moving average of the %K line.

When the Stochastic oscillator is above 80, it is considered overbought, and when it is below 20, it is considered oversold. Traders use these levels as signals to buy or sell. For example, when the Stochastic oscillator crosses above 20, it is considered a buy signal, and when it crosses below 80, it is considered a sell signal.

Traders also look for divergences between the price and the Stochastic oscillator. A bullish divergence occurs when the price makes a lower low, but the Stochastic oscillator makes a higher low. This can be a signal of a potential reversal to the upside. A bearish divergence occurs when the price makes a higher high, but the Stochastic oscillator makes a lower high. This can be a signal of a potential reversal to the downside.

MACD (Moving Average Convergence
Divergence)

Forex traders use the Moving Average Convergence Divergence (MACD) indicator as a technical analysis tool to identify trend changes and potential entry and exit points. The MACD indicator is a trend-following momentum indicator that shows the relationship between two moving averages.

The MACD indicator consists of three components: the MACD line, the signal line, and the histogram. The MACD line is the difference between the 26-period exponential moving average (EMA) and the 12-period EMA. The signal line is a 9-period EMA of the MACD line. The histogram is the difference between the MACD line and the signal line.

Traders use the MACD indicator to identify bullish and bearish signals. A bullish signal occurs when the MACD line crosses above the signal line, indicating a potential trend reversal to the upside. A bearish signal occurs when the MACD line crosses below the signal line, indicating a potential trend reversal to the downside.

Traders also look for divergences between the price and the MACD indicator. A bullish divergence occurs when the price makes a lower low, but the MACD indicator makes a higher low. This can be a signal of a potential reversal to the upside. A bearish divergence occurs when the price makes a higher high, but the MACD indicator makes a lower high. This can be a signal of a potential reversal to the downside.

In addition, traders use the MACD histogram to identify changes in momentum. When the histogram is rising, it indicates that momentum is increasing, and when it is falling, it indicates that momentum is decreasing. Traders can use this information to identify potential entry and exit points.

Ichimoku Kinko Hyo

Forex traders use the Ichimoku Kinko Hyo (Ichimoku Cloud) indicator as a technical analysis tool to identify trends, support and resistance levels, and potential trading opportunities. The Ichimoku Cloud is a complex indicator that consists of several components, including the Kumo (cloud), Tenkan-sen (conversion line), Kijun-sen (base line), Chikou Span (lagging line), and Senkou Span A and B (leading span).

Traders use the Ichimoku Cloud to identify bullish and bearish signals. When the price is above the cloud, it is considered a bullish signal, and when the price is below the cloud, it is considered a bearish signal. Traders also look for crossovers between the Tenkan-sen and Kijun-sen lines. A bullish crossover occurs when the Tenkan-sen crosses above the Kijun-sen, indicating a potential trend reversal to the upside. A bearish crossover occurs when the Tenkan-sen crosses below the Kijun-sen, indicating a potential trend reversal to the downside.

Traders also use the Kumo to identify support and resistance levels. When the price is above the Kumo, it is considered a support level, and when the price is below the Kumo, it is considered a resistance level. Traders also look for crossovers between the Senkou Span A and B lines. A bullish crossover occurs when the Senkou Span A crosses above the Senkou Span B, indicating a potential bullish trend. A bearish crossover occurs when the Senkou Span A crosses below the Senkou Span B, indicating a potential bearish trend.

The Chikou Span is used to confirm signals by showing the current closing price in relation to historical price action. When the Chikou Span is above the price, it is considered a bullish signal, and when it is below the price, it is considered a bearish signal. Traders also look for crossovers between the Chikou Span and the price. A bullish crossover occurs when the Chikou Span crosses above the price, indicating a potential bullish trend. A bearish crossover occurs when the Chikou Span crosses below the price, indicating a potential bearish trend.

Average directional index (ADX)

Forex traders use the Average Directional Index (ADX) as a technical analysis tool to measure the strength of a trend. The ADX is part of the Directional Movement System, which includes the Plus Directional Indicator (+DI) and the Minus Directional Indicator (-DI).

The ADX ranges from 0 to 100, with readings above 25 indicating a strong trend and readings below 20 indicating a weak trend. Traders use the ADX to determine whether a currency pair is trending or trading in a range. A high ADX reading indicates a trending market, while a low ADX reading indicates a ranging market.

Traders also use the ADX to identify potential entry and exit points. When the ADX is rising, it indicates that the trend is gaining strength, and traders may look to enter a trade in the direction of the trend. When the ADX is falling, it indicates that the trend is losing strength, and traders may consider exiting a trade or avoiding new trades until the trend regains strength.

In addition, traders use the +DI and -DI indicators to identify the direction of the trend. When the +DI is above the -DI, it indicates a bullish trend, and traders may look to enter long positions. When the -DI is above the +DI, it indicates a bearish trend, and traders may look to enter short positions.

Traders also look for crossovers between the +DI and -DI indicators. When the +DI crosses above the -DI, it can be a buy signal, and when the -DI crosses above the +DI, it can be a sell signal. However, traders should not rely solely on these crossovers, and should also consider the strength of the trend as indicated by the ADX.

Parabolic SAR (Stop and Reverse)

Forex traders use the Parabolic SAR (Stop and Reverse) indicator as a technical analysis tool to identify potential trend reversals and provide stop loss levels. The Parabolic SAR is represented by a series of dots above or below the price, and its position relative to the price can signal bullish or bearish momentum.

When the Parabolic SAR dots are below the price, it indicates a bullish trend, and traders may look for long positions. When the Parabolic SAR dots are above the price, it indicates a bearish trend, and traders may look for short positions.

Traders also use the Parabolic SAR to set stop loss levels. When in a long position, traders may set their stop loss level at the level of the Parabolic SAR dots. Similarly, when in a short position, traders may set their stop loss level at the level of the Parabolic SAR dots.

In addition, traders use the Parabolic SAR to identify potential trend reversals. When the Parabolic SAR dots switch from being below the price to being above the price, it can be a signal of a potential trend reversal to the downside. Conversely, when the Parabolic SAR dots switch from being above the price to being below the price, it can be a signal of a potential trend reversal to the upside.

Traders should be cautious when using the Parabolic SAR, as it can provide false signals in ranging markets. It is important to use the Parabolic SAR in combination with other technical analysis tools and to consider the overall market conditions and trend.

Williams %R

Williams %R is a technical indicator that is commonly used by forex traders to identify overbought or oversold conditions in the market. The Williams %R indicator is a momentum oscillator that measures the level of the current closing price relative to the high-low range over a specified period of time.

Forex traders typically use Williams %R by looking for divergences between the indicator and the price action. For example, if the price of a currency pair is making higher highs while the Williams %R indicator is making lower highs, it may indicate that the price trend is losing momentum and a reversal could be imminent. Conversely, if the price is making lower lows while the Williams %R is making higher lows, it could indicate that the price trend is gaining momentum and a trend continuation may be likely.

Traders also use Williams %R to identify overbought or oversold conditions in the market. If the Williams %R reaches the upper range (above -20) it suggests that the market is overbought, and a price correction or reversal might occur. Conversely, if the Williams %R reaches the lower range (below -80), it could indicate that the market is oversold, and a bullish reversal could be imminent.

It is important to note that no indicator is perfect, and traders should always use Williams %R in conjunction with other technical indicators and fundamental analysis to make informed trading decisions.

the Parabolic SAR dots are above the price, it indicates a bearish trend, and traders may look for short positions.

Forex traders use the Parabolic SAR (Stop and Reverse) indicator as a technical analysis tool to identify potential trend reversals and provide stop loss levels. The Parabolic SAR is represented by a series of dots above or below the price, and its position relative to the price can signal bullish or bearish momentum.

Traders also use the Parabolic SAR to set stop loss levels. When in a long position, traders may set their stop loss level at the level of the Parabolic SAR dots. Similarly, when in a short position, traders may set their stop loss level at the level of the Parabolic SAR dots.

In addition, traders use the Parabolic SAR to identify potential trend reversals. When the Parabolic SAR dots switch from being below the price to being above the price, it can be a signal of a potential trend reversal to the downside. Conversely, when the Parabolic SAR dots switch from being above the price to being below the price, it can be a signal of a potential trend reversal to the upside.

Traders should be cautious when using the Parabolic SAR, as it can provide false signals in ranging markets. It is important to use the Parabolic SAR in combination with other technical analysis tools and to consider the overall market conditions and trend.

Williams %R

Williams %R is a technical indicator that is commonly used by forex traders to identify overbought or oversold conditions in the market. The Williams %R indicator is a momentum oscillator that measures the level of the current closing price relative to the high-low range over a specified period of time.

Forex traders typically use Williams %R by looking for divergences between the indicator and the price action. For example, if the price of a currency pair is making higher highs while the Williams %R indicator is making lower highs, it may indicate that the price trend is losing momentum and a reversal could be imminent. Conversely, if the price is making lower lows while the Williams %R is making higher lows, it could indicate that the price trend is gaining momentum and a trend continuation may be likely.

Traders also use Williams %R to identify overbought or oversold conditions in the market. If the Williams %R reaches the upper range (above -20) it suggests that the market is overbought, and a price correction or reversal might occur. Conversely, if the Williams %R reaches the lower range (below -80), it could indicate that the market is oversold, and a bullish reversal could be imminent.

It is important to note that no indicator is perfect, and traders should always use Williams %R in conjunction with other technical indicators and fundamental analysis to make informed trading decisions.

Until next time, Happy Trading,

Love From Your Trading Mentor,

Trading Angel x

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A LITTLE BIT OF SCIENCE WHICH CAN BE APPLIED TO TRADING FOREX 

By Your Trading Coach,

Trading Angel 

IS FOREX TRADING AN ART OR A SCIENCE? 

Forex traders will argue to their death about whether forex trading is an art or a science. Those who create trading algorithms are on the side which say science, clearly believing that set rules applied every time will eventually produce positive results at least 51% of the time. Or there are those which advocate for the risk to reward ratio to be so ridiculously in your favour as the only way to truly succeed as a forex trader. Insisting that as there are only two option, to buy or to sell, you could, in theory, flip a coin, and as long as your risk to reward ratio is say 1:5 you are bound to end with more money than you started, eventually, as its just a game of numbers. 

TRY CONVINCING ME IT’S ALL SCIENCE 

While I hear these arguments and accept that they make sense on paper I can’t help leaning a little more on the side of forex trading being an art. There are a lot of things to consider before any trade is placed in order to consider it to be high probability enough to put money on the line. Some of the considerations which I rank highly I’ll admit fall under science. For example, timing. I think timing is incredibly important in forex trading and I’m constantly baffled as to why more trading mentors don’t actually talk about this more. Session opening and closing times for example. Month end, when there is often a big sell off as countries attempt to balance their books. Seasonal fluctuation where the markets often fall into ranges as there isn’t enough liquidity in them, for example that period between Christmas and New Years or the summer holidays in August. While it’s better for a human to apply common sense to all these areas it is technically possible to programme these into a computer. But what about the human emotions which move the market, fear, greed or uncertainty? Can these be programmed into a computer? If you’re holding strong on your argument of forex trading being a science I imagine you could fight this point too, although I might be a little sceptical and think you’re just arguing now because you like arguing. How about fundamental analysis? Interpreting economical data and how this is perceived by those trading the financial markets? I think once we move further into this territory you’re going to completely lose me if you think forex trading is ONLY science and there’s no art to it whatsoever. 

SURELY NFP VOLATILITY CANT BE SCIENCE 

While it’s essential for forex traders to be chart literate and to be hot on their technical analysis and their understanding of price action, it’s just as important to understand fundamental analysis, the real driving force behind any long term move made on the charts. Or short term volatility. Take NFP for example. For those who are new to forex trading, NFP stands for Non Farm Payroll. It is huge economical data which is released each month on the first Friday of every month at 13:30 UK time and gives information on the US jobs which aren’t relating to farm work. NFP is famous for causing huge volatility in the financial markets, especially USD pairs or those which are pegged to the US economy.  Lots of traders actually chose not to trade NFP while others find it to be the most exciting day of the month. I’ve known new traders who have sat at their charts before the news is about to be released and have tried to analyse the candlestick patterns leading up to the news release in order to chose a direction. This is ridiculous. The giant move which happens the second the numbers are released is based on fundamental analysis and traders attempting to interpret whether the news was better then expected, as expected or worse than expected and all the different nuances in-between. Any price action leading up to this point is irrelevant. Now tell me there’s no art to trading. How on earth can you ask a computer to make sense of what humans are feeling when these numbers come out. If you know a computer which can do this, then you are wasting your time reading this blog.

BELIEVING TRADING IS MORE SCIENCE IS MORE CONVENIENT 

Now I understand why forex traders desperately want trading to be more of a science than an art. If it’s science, it can be learned, It can be memorised, it might take time to learn but if it’s an exact science, surely anyone can put in enough time and get it right. If it’s a science you can tell a computer when to trade for you and you can become rich with minimal effort. If it’s an art, then there are thousands of nuances, it takes practice and yet you can still get it wrong. If it’s an art than all of those who were terrible at art or sport at school suddenly feel helpless and like there’s no hope. If it’s an art, then it sounds like one big frustration which would take too much time to master and you just don’t have the time, because you’re tired and stressed at your day job and the whole reason you wanted to be a trader in the first place was to free up your time and make you rich so you could enjoy life. Learning an art goes against the reason you want to be a trader. It’s much more convenient to believe that trading is a science.

The good news is, I believe it’s an art and a science. Sure, there are parts of trading which you need to consider human emotion for and a human will do a better job than a computer (probably), but there are times when actually removing human emotion and working with the facts can be hugely beneficial. 

LETS TALK ABOUT MOMENTUM 

There is one huge part of forex trading which I believe is science, and I absolutely love it. It is momentum. The dictionary defines momentum as being “The quantity of motion of a moving body, measured as a product of its mass and velocity”. Ok, so in layman’s terms that basically means if something is moving with force in a certain direction it’s got momentum and is likely to continue moving in that direction for a bit, as that takes less effort than slowing down and turning around. 

MOMENTUM IS YOUR FRIEND 

Let’s use a car analogy! I love a car analogy for trading! So imagine a car is going really fast along the motorway, it’s got momentum. Now imagine that car missed its exit and actually needs to reverse as quickly as possible and go the other way. It doesn’t start moving with momentum in the opposite direction the second the driver has that thought. It has to first of all find a safe place to slow down and come off the motorway, and the faster it is going and the more momentum it has, the longer it might take for it to slow down, then it has to come off the motorway, turn around and build up momentum in the opposite direction. Now let’s apply this to the financial markets. If a market is in a trend it has momentum. The market is much more likely to keep going in the direction it’s got momentum in, even if for a little bit, as slowing down and turning around takes a lot more energy and is more time consuming than you may imagine. The conclusion; the trend is your friend, and momentum is also your friend. 

So now you know how powerful momentum can be in trading, what are the different tools you can use to measure momentum? My personal favourite is Heikin Ashi but other popular momentum indicators include MACD and RSI. 

HEIKIN ASHI 

Heikin Ashi looks similar to normal candlesticks but they use a slightly different formula which smooths to the appearance of the trend. There are different ways which Heikin Ashi can be used in your trading but today we are going to focus on momentum. So when using Heikin Ashi to gauge momentum you want to consider that the Heikin Ashi candles are made of three main types. 

There are :

Bullish momentum candles – these are green and have a flat base and wick at only the top 

Bearish momentum candles – these are red and have a flat top and wick at only the base 

Indecision candles – these can be any colour, either red or green, and have wick at both the base and the top 

I have two key rules for using Heikin Ashi candles to measure momentum:

Firstly, it works significantly better on higher time frames than smaller ones, so please only consider what I’m saying to be relevant for 4H and above. If you go any lower than 4H there are far too many false entries and exits. 

Secondly, never take any decision either to get into or out of a trade based on an indecision candle. These are often just pull backs rather than reversals. While we do get indecision candles before a genuine reversal, we also get loads of them during a trend with strong momentum, and if you were to come into and out of a trade every time you saw one your day would be utter chaos. One of my favourite strategies uses Heikin Ashi and momentum, so if you’d like more details on how to sign up to Trading Angel Academy and learn this trading strategy plus 2 others, either visit the website at www.tradingangel.co.uk or sign up to the Academy here: https://caroline-rundell.mykajabi.com/offers/EqUQQy4K

MACD 

The Moving Average Convergence Divergence indicator is a popular tool for gauging momentum and for helping traders decide whether to get into or out of trades. It looks a little confusing when you first see it because it appears to have a few elements to it so lets break these down:

First of all, default settings on MACD are the most popular to use so feel free to keep them as you find them on TradingView which is 12, 26, 9. 

The main components of the MACD are:

MACD line – the blue line on TradingView default settings

Signal line – the red line on TradingView default settings – this is a 9 period EMA 

Histogram – this shows us momentum and is a visual representation of the MACD and the 9 period EMA

Zero line – where the histogram crosses from green to red or from bullish momentum to bearish momentum. 

While it may look complicated its in essence very straightforward. The Moving Average Convergence Divergence calculates the difference between a markets 26 period exponential moving average and the 12 period exponential moving average or EMA. And the histogram is the key to gauging momentum. When the histogram is very big it shows us there is strong momentum and when it is small it shows us that momentum is weak. The colours on the histogram can also help give us clues as to when momentum is slowing down in one direction and perhaps speeding up in the other.

Dark red – bearish momentum 

Light red – bullish 

Dark green – bullish momentum 

Light green – bearish 

RSI 

Relative Strength Index is another popular trading indicator which can helps traders gauge momentum. It is an oscillator which measures the speed and change of pace movements. The relative strength index oscillates on a scale of 0 to 100 and is generally considered to be ‘overbought’ when it is over 70 on the scale and ‘oversold’ when it is under 30. This means that traders will start to look for reversals from the upside to the downside, in other words, sell positions, when the RSI moves over 70. Similarly traders will start to look for reversals from the downside to the upside, or buy positions, when the RSI starts to go under 30. 

The tricky thing with the RSI is that in backtesting it looks like this woks perfectly, however if you have every tried to trade it this way you will know that it isn’t that simple at all. As we have already established when a market has strong momentum in a certain direction it tends to keep moving for a bit rather than suddenly hitting the breaks and turning back around. Which means, traders who just use the RSI ‘oversold’ and ‘overbought’ as their exact entry trigger, are often disappointed by getting into the trade far too early. What’s even more disappointing about this is that often the market does eventually reverse, but by this point they have already taken an enormous loss by entering at the very first sign rather then waiting for the exact confirmation (if you want to know more about the stages of a trade and the 7 steps Trading Angel teaches every trader to look for in a trade then this is taught in great detail at Trading Angel Academy:

https://tradingangel.mykajabi.com/offers/EqUQQy4K

HOW DOES RSI DIVERGENCE SHOW A POSSIBLE REVERSAL? 

So the way traders use the RSI to show that momentum is slowing down before a possible reversal is to look for divergence. Divergence is when the price moves in the opposite direction to the RSI, once the RSI has gone into extreme conditions, so either above 70 or below 30. So for example, if the RSI is above 70 and starts to move down whilst the price is continuing to move up on the chart (the opposite direction to the RSI) this shows us that there is divergence and a slow down in momentum which could possibly lead to a reversal in the near future. On the other hand if the market is trending down and the RSI is below 30 but starts to move back up while the price on the chart continues to move down then this shows bearish divergence. RSI default settings on TradingView are 14 however I like to adjust mine slightly to 10. 

I couldn’t recommend TradingView any more as the place to do your charting and technical analysis. It’s what I’ve been using since the first day I started trading and as a trading mentor it’s what I encourage all of my mentees to use. TradingView is free if you don’t mind the pop ups, I like to use the Pro version as it’s still relatively inexpensive at around £11 a month and there are a few cool features which make it very useful, such as being able to save multiple indicators on your strategy templates and being able to create smart watchlists with multiple bookmarks. If you’re not sure if you’re ready to commit to the Pro version just yet but would like to try it then you can try it for free for a month by clicking this link, just make sure to cancel before the month ends if you don’t want to be charged https://www.tradingview.com/?offer_id=10&aff_id=25988

Happy Trading! 

Love From, Your Trading Coach x 

Read More

A LITTLE BIT OF SCIENCE WHICH CAN BE APPLIED TO TRADING FOREX 

By Your Trading Mentor,

Trading Angel 

IS FOREX TRADING AN ART OR A SCIENCE? 

Forex traders will argue to their death about whether forex trading is an art or a science. Those who create trading algorithms are on the side which say science, clearly believing that set rules applied every time will eventually produce positive results at least 51% of the time. Or there are those which advocate for the risk to reward ratio to be so ridiculously in your favour as the only way to truly succeed as a forex trader. Insisting that as there are only two option, to buy or to sell, you could, in theory, flip a coin, and as long as your risk to reward ratio is say 1:5 you are bound to end with more money than you started, eventually, as its just a game of numbers. 

TRY CONVINCING ME IT’S ALL SCIENCE 

While I hear these arguments and accept that they make sense on paper I can’t help leaning a little more on the side of forex trading being an art. There are a lot of things to consider before any trade is placed in order to consider it to be high probability enough to put money on the line. Some of the considerations which I rank highly I’ll admit fall under science. For example, timing. I think timing is incredibly important in forex trading and I’m constantly baffled as to why more trading mentors don’t actually talk about this more. Session opening and closing times for example. Month end, when there is often a big sell off as countries attempt to balance their books. Seasonal fluctuation where the markets often fall into ranges as there isn’t enough liquidity in them, for example that period between Christmas and New Years or the summer holidays in August. While it’s better for a human to apply common sense to all these areas it is technically possible to programme these into a computer. But what about the human emotions which move the market, fear, greed or uncertainty? Can these be programmed into a computer? If you’re holding strong on your argument of forex trading being a science I imagine you could fight this point too, although I might be a little sceptical and think you’re just arguing now because you like arguing. How about fundamental analysis? Interpreting economical data and how this is perceived by those trading the financial markets? I think once we move further into this territory you’re going to completely lose me if you think forex trading is ONLY science and there’s no art to it whatsoever. 

SURELY NFP VOLATILITY CANT BE SCIENCE 

While it’s essential for forex traders to be chart literate and to be hot on their technical analysis and their understanding of price action, it’s just as important to understand fundamental analysis, the real driving force behind any long term move made on the charts. Or short term volatility. Take NFP for example. For those who are new to forex trading, NFP stands for Non Farm Payroll. It is huge economical data which is released each month on the first Friday of every month at 13:30 UK time and gives information on the US jobs which aren’t relating to farm work. NFP is famous for causing huge volatility in the financial markets, especially USD pairs or those which are pegged to the US economy.  Lots of traders actually chose not to trade NFP while others find it to be the most exciting day of the month. I’ve known new traders who have sat at their charts before the news is about to be released and have tried to analyse the candlestick patterns leading up to the news release in order to chose a direction. This is ridiculous. The giant move which happens the second the numbers are released is based on fundamental analysis and traders attempting to interpret whether the news was better then expected, as expected or worse than expected and all the different nuances in-between. Any price action leading up to this point is irrelevant. Now tell me there’s no art to trading. How on earth can you ask a computer to make sense of what humans are feeling when these numbers come out. If you know a computer which can do this, then you are wasting your time reading this blog.

BELIEVING TRADING IS MORE SCIENCE IS MORE CONVENIENT 

Now I understand why forex traders desperately want trading to be more of a science than an art. If it’s science, it can be learned, It can be memorised, it might take time to learn but if it’s an exact science, surely anyone can put in enough time and get it right. If it’s a science you can tell a computer when to trade for you and you can become rich with minimal effort. If it’s an art, then there are thousands of nuances, it takes practice and yet you can still get it wrong. If it’s an art than all of those who were terrible at art or sport at school suddenly feel helpless and like there’s no hope. If it’s an art, then it sounds like one big frustration which would take too much time to master and you just don’t have the time, because you’re tired and stressed at your day job and the whole reason you wanted to be a trader in the first place was to free up your time and make you rich so you could enjoy life. Learning an art goes against the reason you want to be a trader. It’s much more convenient to believe that trading is a science.

The good news is, I believe it’s an art and a science. Sure, there are parts of trading which you need to consider human emotion for and a human will do a better job than a computer (probably), but there are times when actually removing human emotion and working with the facts can be hugely beneficial. 

LETS TALK ABOUT MOMENTUM 

There is one huge part of forex trading which I believe is science, and I absolutely love it. It is momentum. The dictionary defines momentum as being “The quantity of motion of a moving body, measured as a product of its mass and velocity”. Ok, so in layman’s terms that basically means if something is moving with force in a certain direction it’s got momentum and is likely to continue moving in that direction for a bit, as that takes less effort than slowing down and turning around. 

MOMENTUM IS YOUR FRIEND 

Let’s use a car analogy! I love a car analogy for trading! So imagine a car is going really fast along the motorway, it’s got momentum. Now imagine that car missed its exit and actually needs to reverse as quickly as possible and go the other way. It doesn’t start moving with momentum in the opposite direction the second the driver has that thought. It has to first of all find a safe place to slow down and come off the motorway, and the faster it is going and the more momentum it has, the longer it might take for it to slow down, then it has to come off the motorway, turn around and build up momentum in the opposite direction. Now let’s apply this to the financial markets. If a market is in a trend it has momentum. The market is much more likely to keep going in the direction it’s got momentum in, even if for a little bit, as slowing down and turning around takes a lot more energy and is more time consuming than you may imagine. The conclusion; the trend is your friend, and momentum is also your friend. 

So now you know how powerful momentum can be in trading, what are the different tools you can use to measure momentum? My personal favourite is Heikin Ashi but other popular momentum indicators include MACD and RSI. 

HEIKIN ASHI 

Heikin Ashi looks similar to normal candlesticks but they use a slightly different formula which smooths to the appearance of the trend. There are different ways which Heikin Ashi can be used in your trading but today we are going to focus on momentum. So when using Heikin Ashi to gauge momentum you want to consider that the Heikin Ashi candles are made of three main types. 

There are :

Bullish momentum candles – these are green and have a flat base and wick at only the top 

Bearish momentum candles – these are red and have a flat top and wick at only the base 

Indecision candles – these can be any colour, either red or green, and have wick at both the base and the top 

I have two key rules for using Heikin Ashi candles to measure momentum:

Firstly, it works significantly better on higher time frames than smaller ones, so please only consider what I’m saying to be relevant for 4H and above. If you go any lower than 4H there are far too many false entries and exits. 

Secondly, never take any decision either to get into or out of a trade based on an indecision candle. These are often just pull backs rather than reversals. While we do get indecision candles before a genuine reversal, we also get loads of them during a trend with strong momentum, and if you were to come into and out of a trade every time you saw one your day would be utter chaos. One of my favourite strategies uses Heikin Ashi and momentum, so if you’d like more details on how to sign up to Trading Angel Academy and learn this trading strategy plus 2 others, either visit the website at www.tradingangel.co.uk or sign up to the Academy here: https://caroline-rundell.mykajabi.com/offers/EqUQQy4K

MACD 

The Moving Average Convergence Divergence indicator is a popular tool for gauging momentum and for helping traders decide whether to get into or out of trades. It looks a little confusing when you first see it because it appears to have a few elements to it so lets break these down:

First of all, default settings on MACD are the most popular to use so feel free to keep them as you find them on TradingView which is 12, 26, 9. 

The main components of the MACD are:

MACD line – the blue line on TradingView default settings

Signal line – the red line on TradingView default settings – this is a 9 period EMA 

Histogram – this shows us momentum and is a visual representation of the MACD and the 9 period EMA

Zero line – where the histogram crosses from green to red or from bullish momentum to bearish momentum. 

While it may look complicated its in essence very straightforward. The Moving Average Convergence Divergence calculates the difference between a markets 26 period exponential moving average and the 12 period exponential moving average or EMA. And the histogram is the key to gauging momentum. When the histogram is very big it shows us there is strong momentum and when it is small it shows us that momentum is weak. The colours on the histogram can also help give us clues as to when momentum is slowing down in one direction and perhaps speeding up in the other.

Dark red – bearish momentum 

Light red – bullish 

Dark green – bullish momentum 

Light green – bearish 

RSI 

Relative Strength Index is another popular trading indicator which can helps traders gauge momentum. It is an oscillator which measures the speed and change of pace movements. The relative strength index oscillates on a scale of 0 to 100 and is generally considered to be ‘overbought’ when it is over 70 on the scale and ‘oversold’ when it is under 30. This means that traders will start to look for reversals from the upside to the downside, in other words, sell positions, when the RSI moves over 70. Similarly traders will start to look for reversals from the downside to the upside, or buy positions, when the RSI starts to go under 30. 

The tricky thing with the RSI is that in backtesting it looks like this woks perfectly, however if you have every tried to trade it this way you will know that it isn’t that simple at all. As we have already established when a market has strong momentum in a certain direction it tends to keep moving for a bit rather than suddenly hitting the breaks and turning back around. Which means, traders who just use the RSI ‘oversold’ and ‘overbought’ as their exact entry trigger, are often disappointed by getting into the trade far too early. What’s even more disappointing about this is that often the market does eventually reverse, but by this point they have already taken an enormous loss by entering at the very first sign rather then waiting for the exact confirmation (if you want to know more about the stages of a trade and the 7 steps Trading Angel teaches every trader to look for in a trade then this is taught in great detail at Trading Angel Academy:

https://tradingangel.mykajabi.com/offers/EqUQQy4K

HOW DOES RSI DIVERGENCE SHOW A POSSIBLE REVERSAL? 

So the way traders use the RSI to show that momentum is slowing down before a possible reversal is to look for divergence. Divergence is when the price moves in the opposite direction to the RSI, once the RSI has gone into extreme conditions, so either above 70 or below 30. So for example, if the RSI is above 70 and starts to move down whilst the price is continuing to move up on the chart (the opposite direction to the RSI) this shows us that there is divergence and a slow down in momentum which could possibly lead to a reversal in the near future. On the other hand if the market is trending down and the RSI is below 30 but starts to move back up while the price on the chart continues to move down then this shows bearish divergence. RSI default settings on TradingView are 14 however I like to adjust mine slightly to 10. 

I couldn’t recommend TradingView any more as the place to do your charting and technical analysis. It’s what I’ve been using since the first day I started trading and as a trading mentor it’s what I encourage all of my mentees to use. TradingView is free if you don’t mind the pop ups, I like to use the Pro version as it’s still relatively inexpensive at around £11 a month and there are a few cool features which make it very useful, such as being able to save multiple indicators on your strategy templates and being able to create smart watchlists with multiple bookmarks. If you’re not sure if you’re ready to commit to the Pro version just yet but would like to try it then you can try it for free for a month by clicking this link, just make sure to cancel before the month ends if you don’t want to be charged https://www.tradingview.com/?offer_id=10&aff_id=25988

Happy Trading! 

Love From, Your Trading Mentor x 

Read More