For intraday trading, modern traders use a lot of all kinds of indicators that make it possible to determine the moment of entry into the market accurately. Such intraday trading algorithms have different approaches to determining signals and can be used for scalping, medium-term trading, and so on. You can learn more about this by reading the articles Short Selling strategies for Trader, How to choose stocks for Intraday Trading, How to choose broker platform for day trading.
The ranking of the best Forex indicators for intraday trading strategy begins with the Laguerre indicator
Just the Laguerre indicator is designed to minimize noise effects and track the emergence of a new trend. When creating the indicator, the developers used the analysis of the spectral type max entropy used in geophysics.
According to a survey of traders, this indicator is a great tool for trend trading. The indicator owes its popularity to be able to indicate market cycles in certain graphic periods much better than other standard-type intraday trading algorithms available in the MetaTrader.
Combined algorithm “Bollinger Squeeze v9”
Why is this indicator so interesting for intraday trading? “Bollinger Squeeze v9” is a combination of the five most accurate intraday trading indicators practical, well-known and popular intraday trading indicators among traders into a single algorithm:
- “CCI,”
- “MACD,”
- “Momentum”
- rsi indicator for intraday trading
- and the Stochastic overbought/oversold indicator.
This indicator combination, today the most accurate intraday trading indicators commonly used in practice when trading on the foreign exchange market. Therefore, the developers created this wonderful instance.
ADX CROSSING MA indicator
The list of ratings for Forex intraday trading indicators, the “ADX CROSSING MA” algorithm, which is based on average directional movement indices, continues. This indicator is an analog of “ADX,” but according to a survey of traders, it has a simplified interface, which is built on the signal points of entry into the market.
In other words, you no longer need to observe the indicator lines in order to make the right decision. Among other things, ACM is able to find the average “ADX” values, which makes it possible to smooth out market noise and find the best entry point.
One of the best Forex intraday trading indicators in the opinion of traders is the “Eye”
For intraday trading, you can use both automatic and manual indicators. Just the multifunctional indicator “Eye,” which fell into the rating of the best Forex intraday trading indicators, is one of those.
This indicator is somewhat similar to the well-known Zigzag because it also combines local extremes in straight lines on the chart. The highs and lows themselves are indicated by large yellow eyes, with a blue or red dot in the center; for this reason, the indicator was called “Eye.”
The ScalperDream indicator is one of the best trading algorithms
Each trader, both for intraday trading indicators and any other, needs his strategy. And each such strategy, in addition to filters, requires the presence of the main indicator that feeds input and output signals to the market.
According to a survey of traders, the ScalperDream indicator is an excellent option for scalping, which is why it got into the rating of the best.
The main parameter of this algorithm is “PERIOD”. If you increase this value, the indicator slows down, which leads to a decrease in the number of signals, but their quality becomes better.