Forex Indicator Pattern MACD settings:
We all heard about the power of technical analysis and probably studied the fact that the price has a memory. So, one of the directions in the currency trading is the graphical analysis of Forex, with the help of which and study the memory of the market. The goal of graphical analysis can be called the search for patterns of price movement in candlestick patterns for the implementation of the most profitable trades.
Graphic patterns – a collection of candles, with which you can predict in advance where the currency pair rate will go.
In the Forex market, the most common are the following patterns: “head and shoulders”, “double top”, “double bottom”.
But, if everything was so simple, then all traders in the Forex market would earn crazy money. You have already felt that in simplicity, the whole complexity of recognizing such graphic patterns is hidden. In this regard, the community of traders does not sit still and constantly develops new rules and approaches to a more effective search for similar patterns. To make it easier for a trader to see the most common graphic patterns on the chart of a currency pair, they came up with special indicators.
Practicing traders use the pattern indicator PatternMACD together with the removals: SMA with a value of 200 and SMA with a period of 89. These averages help a little not to go against the trend. I’m sure you’ll still find some favorite indicator of combating the flat parts of the Forex market and make your complete trading system.