Accurate Indicator Parameter Setting for Forex – Indicators are tools that help us chart the next market direction, so we can decide to open a buy position or open a sell position.
There are 2 main functions of indicators, namely:
- Provide information on market conditions so that we can determine what strategy to use in those conditions
- Provide entry and exit signals so that we can enter and exit the market correctly.
1. Intersection of the indicator line
The indicators that have been producing accurate signals are the stochastic and MACD
2. Touch a certain level
The type of oscillator indicators that provide accurate entry and exit signals are the Money flow index and the William percent range.
3. Indicator position shift
This type of indicator is very few, but the most accurate is the parabolic sar
It should be noted that the indicators above will really be accurate indicators if used according to market conditions, and the parameters are no longer using the default parameters but have been changed according to our needs.
The following indicator settings can make it more accurate:
The most accurate indicator parameters:
I. Stochastic Oscillator
The parameters are K Period =9 , D Period = 3 , Slowing= 5 , Price Field =Close/Close , MA method=simple
The entry signal is when a cross occurs in the saturated area
II.Money Flow Index
The parameter is that if what is predicted is short term, it means that only the next 2-3 candles use MFI period = 3
To predict the long term use period=5
The entry signal is Buy when MFI is worth 0, and sell when MFI is worth 100.
III. Parabolic sar
The parameters are step =0.02 and maximum = 0.2
The entry signal is Buy when the first Sar point appears below the chart, and sell when the Sar point appears above the chart
For now only 3 indicators
That’s the most accurate indicator you can use to make more accurate predictions. good luck