To date, there are a huge number of various indicators that help traders in forex trading. But there is a category of traders who work without using technical analysis indicators. The reasons may be different - someone prefers to use calculations of third-party scripts, someone believes that the indicators interfere with the normal operation of the terminal.
Trading without the use of indicators is possible for several variants of strategies, however, this does not mean that it completely excludes the use of technical analysis of the market.
Technical analysis can be carried out manually, or trading can be carried out according to slightly different principles.
There are strategies in which the use of indicators is not mandatory. Such strategies are distinguished by their simplicity, but at the same time they are not inferior in efficiency to many more complex options.
1. Three-screen strategy
The three-screen strategy is one of the simplest, and at the same time, the most popular among strategies that do not use indicators. Trading is carried out on the basis of visual analysis of three adjacent time frames (hence the name "Three Screens").
Based on his observations, the trader determines what is happening in the market at the moment, a correction or a continuation of the main trend. Having made conclusions based on observations, a trader can already make a decision - to enter the market, or wait for a better moment.
2. Strategy on pending orders
From the name it is clear that the strategy is based on pending orders that will trigger when the price reaches the desired level.
The main thing in the strategy on pending orders is to correctly determine the trigger points. There may be different benchmarks here: a breakdown of support or resistance lines, a trend reversal at a certain point, or any other important benchmark that is the basis of the strategy.
3. Candle analysis
In this strategy, the decision to enter the market is determined by the appearance of candle combinations on the chart of the currency pair.
The patterns of Japanese candlesticks can indicate both a trend reversal and confirm it.
To use candle analysis, you need to learn the most common models, as well as learn how to correctly identify them on charts.
You can download the literature on candle analysis here
There are quite a lot of strategies that do not require the use of indicators, but it is not necessary to completely abandon their use.
Indicators are a very convenient technical analysis tool that helps both predict the trend and carry out various constructions and calculations.
Well, to test the strategy without risking your deposit, get new no deposit forex bonuses 2018.