Most Widely Used Metatrader Indicators

Published: 25th May 2010
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Metatrader provides an efficient way in predicting the future trends of the market by studying the real time market conditions. An indicator is an indexed parameter that determines a trend on the basis of a pre-coded formula. Metatrader consists of as much as 50 real time indicators for client-usage and the number is increasing day by day. Some of the most widely used indicators are described below:

1. Bollinger Bands-Div: It is a divergence based and used to study the divergence of market conditions in the near future from a predetermined pattern. Divergence indicated by it marks the end of ongoing trend and onset of a new trend. It signals busying when the new low-fractal is lower than the previous one and selling when the new up-fractal is higher than previous one.

2. Trend MultiTF: It is highly recommended and trusted by financial experts as it involves study of four different market patterns in determining the future trend. It uses data from four timeframes mainly M5, M15, M30, and H1.The market is defined as bullish, strong or neutral by studying 7 different aspects of these four time-frames. For further accurate analysis it can be modified to include more timeframes and aspects.

3. Power RVI: It is a general purpose indicator and combines Bollinger Bands and RVI together in determining the ongoing trend and trend changes in the near future. A trend change is decided by the position of blue oscillating line with respect to the red median line. In addition it can also be used to determine the divergence and trading zones as oversold or overbought zones.

4. StateX: It is based on real time statistical data used for displaying the statistical characteristics of a financial instrument. The statistical data is arranges in a matrix of rows and columns with totals in the end.

Stuart is writing for many websites, He enjoys writing on wide range of topics such as forex software and forex tools . You may visit for more details.

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