Top FIVE FOREX INDICATORS For MT4 and MT5 (MUST USE)!

Hello traders, how are you? Vladimir here from Traders Academy Club, and in this video I would like to present you the top 5 indicators to use in MetaTrader 4 and MetaTrader 5 trading platforms. So I will be talking about, well, the top 5 for me. There are many other amazing indicators and trading solutions, but in this video I'll focus on 5 of them. The 5 would be the MACD, RSI, Volume Profile, False Break Convergence indicator, and the Bollinger bent. So the— I'll start from number 5, and number 5 would be the RSI. Now I make this order, so you might think, so number 5, is it that not really good enough? The answer is no, it's not. I did not rank them according to, uh, any sort of priority or, or anything like that. Uh, for me it's top 5 by all its meanings. It does not mean one is better than another, one is worse than another. Uh, it just means for me these are the top 5. Many of these indicators you would see here could be amazing in combinations, and I will show you, uh, these combinations as well. But before I would start and explain everything and talk about all the indicators, I would like to take the moment and to thank ActiveTrades broker, the broker I trade with in my CFDs, for making this video available. So let's begin. RSI, one of the amazing indicators that you can see here on my template, stands for the Relative Strength Index and could be used in many various ways. Um, unfortunately, many traders use it completely wrongly, the way it should not be used. I would recommend if you are new to the RSI and you are not sure of its uses, then in my YouTube channel, uh, you can just, uh, go on a search and make— find the RSI videos and watch the videos I have available on this subject. You Uh, you might love them. Uh, so, um, the RSI, as you can see here— let me increase it a little bit— one of the two of the uses I love in RSI is the overbought and oversold conditions. You can see that many times when the market reaches the overbought— now, by the way, Overbought and oversold by default stands on 70 and 30. 70 for overbought, 30 for oversold. I personally love it on 80 and 20 simply because 70 in many times is simply too early to celebrate. It does not mean that once the market reaches the 80 or 20, it immediately makes a massive turnaround. But it means that it— these levels tend to be more important and create more important pressure, uh, for a possible reversal, or at least represent a significant slowdown. You would see many times when once the market reaches the 80 for overbought or 20, sometimes even below, um, for oversold, the turnaround is coming close. Okay, you will see that significantly. Sometimes the moves are bigger, sometimes the moves are smaller, but the idea is pretty much clear. The other use that traders have with the RSI is when trend— when you trade in trending conditions with breakouts. So I'll explain. When the RSI, the Relative Stress Index, corresponds to the price action, uh, then it's a very good zone. It's a very good way to verify breakouts. It could be with pattern breakouts, it could be with trendline breakouts. So for just for example, if you find some trending, uh, conditions where the highs and the lows are pointing to the same direction And then you get some correction. Okay, when you get the breakout and the RSI corresponds and make the same structure, the same pattern, and then breaks simultaneously— so when you see the middle level is 50, when you see the RSI crossing through and the price managed to gain the momentum in the direction that you are looking for, this is a very powerful combination. So for me, RSI definitely belongs to the category of the top 5. One thing I would like to share though, do not tend to do the mistakes that many traders do and use indicators solely, which means only indicators, okay? Because Whatever the indicator is, it is extremely important to remember the indicator job is to indicate. The price is the one that dictates. So whatever the indicators you use from my top 5 I present in this video, or any other indicator that you work with, remember It has to go hand by hand with price, because if price tells you one thing, indicators is absolutely different. Not always it will be user-friendly, I would say. Okay, so you want to understand that and you want to use it properly. Indicators with price. So the this would be my. Fixed indicator. The next indicator, number four, is going to be the MACD, one of my absolute favorites. MACD stands for the moving average convergence divergence. By its name, it already hints the multiple usages this indicator has. This indicator, it's absolutely amazing. If you if you are new to the technical world and to trading, then, and you don't know what MACD is, I suggest that inside my YouTube channel just go and search for MACD videos. There are many videos available on the subject. Watch them and you will understand better all the usages that the— this unbelievably amazing indicator has. The usages I love to, um, work with the MACD, it's the divergences, convergences, and for sometimes the momentum trend verification. The, the number one usage, the ultimate usage for me is the, um, divergences. I love to compare price versus indicator. I love to compare when, when the chart telling me one thing, the MACD showing me the absolutely different thing. MACD and RSI also could be in amazing combinations of extreme points, like for example right at that area. So you can see that the MACD makes absolutely new low while the RSI also creates oversold conditions below the 20. Many times— I said many times because nothing is 100% of times, and I'm sure you understand it— the reactions of such, uh, such cases is absolutely powerful. So, uh, the MACD would be the second indicator that I really think you should have. And if you do not have the MACD indicator for MetaTrader 4 or MetaTrader 5, go to my blog vladimirribakov.com, go to Strategies and Courses, In-House Indicators. This is my marketplace and you would be able to find it here. Okay, scroll down, you will find here many different indicators and trading solutions including robots that help you with risk management and so on. Choose the versions you want, download and install, and enjoy. The next indicator, which would be number 3, would be the Volume Profile indicator. This is the very indicator you see on my chart here with this pink histogram, okay? And one of the reasons I love using this indicator, as you can see, you can find it with full control everywhere. One of the reasons I love this indicator is because it helps to understand where the buyers and the sellers are in terms of maximum volumes, maximum transactions. When the price goes through a specific area more and more and more times That simply means there are more buyers and sellers. There is bigger activity between the buyers and sellers at that very area, and this is what the— this indicator for. Now, as you can see on, uh, the version I have from the volume profile, I call it KTLI, the Key Trading Levels indicators, because it helps me to As you can see, I can control and see the key levels from every time frame on, uh, right here on my table. Okay, and you would see that the one of the usages I have, uh, with, with this indicator, and that you will see when you will start using that, is that many times the market, when it reaches one level, it, it goes directly to the next level. And when it crosses through, it goes to the next level and bounces, and so on and so on. It really shows you very, very important levels based on the volume profile. If you are not sure what volume profile stands for, I really encourage you in my YouTube channel go and look for volume profile and watch how to use this indicator both for balances and imbalances conditions in trading. The next indicator that I absolutely love working with is the Bollinger Bands, and I love this indicator so badly that one of my trading systems I use, the Forex Triple B Pro, is based fully on the Bollinger Bands in combination of pivots. Absolutely amazing indicator that I think you should have on your trading arsenal as well. As with the other indicators, if you are new to the Bollinger Bands and you don't know what it is and the usages it has Uh, then I suggest in my YouTube channel search for Bollinger Band and you will see there are several videos that will help you to understand better all the usages. Many traders use that as the, the, as finding, um, the conditions of reversals. And if you also love this trading style, then remember I said at the beginning of the video You would find combinations of different indicators in with other with other indicators. So in this condition, that's exactly one of them. Look what happens when the Bollinger Bands meet with together with key trading levels. When it reaches key levels, bounces from. The bottom, you can see spikes through the lower Bollinger Band, goes up to create here an engulfing, and all the rest is history. Okay, you can see that in many, many cases, even here it reaches to the top, try to spike through, bounces directly from the key level together with the Bollingers. Absolutely powerful combination and Generally speaking, the Bollinger Band is from one side very controversial indicator because many traders, uh, treat it in a way that they think that forex trading cannot be done properly with, uh, with the Bollinger Bands. It could be more suitable for options trading and so on. Allow me to disagree. If you really figure out the way that this indicator works and its purposes, in my point of view, it's definitely an amazing indicator, and that's the reason why it made all the way to my top five. And the final indicator number one. Indicator. For me, it's my personal creation, False Break and Convergence indicator. On this very chart, you will see that right in these conditions here and here. Okay, this indicator knows to identify When a divergence, a bullish or bearish, positive or negative divergence, is created on the MACD, one of the indicators I love so much. Okay, when false breakout conditions happen and we get fake lows like you can see here and fake highs, and when the market manages to create that turnaround This is absolutely amazing combination with any of the things we discussed before. With the RSI, as you can see here, for example, right, we find a false breakout, then we got a trendline breakout, and we get RSI trendline breakout when it goes above 50. Or with the bounce right at the bottom of the Bollinger Bands on a key Volume area. Okay, or like here also top of the Bollinger Bands with divergence in RSI with top volume and so on and so on. This is absolutely amazing indicator to use as is by its own or in combination with any of the other indicators. And yes, you can find this indicator as well on the, on the webpage I showed you before on my blog, vladimirrebakov.com, strategies and courses, in-house indicators. Scroll down and you will see it here. You can also find these indicators directly below the video in the description. You will find the links, just follow the links, install and enjoy. You will love them. So that's pretty much it for this video. These are the top 5 indicators I wanted to share with you for MetaTrader 4, MetaTrader 5. Let me know in the comment section below this video Which indicator from this list you love the most? Okay, is it MACD? Is it RSI or any other indicators? And let us know in the comment section why. So, uh, I would like to thank you for your time watching this video, and I wish you a very successful trading. And of course, I would like to invite you to our trading family, Traders Academy Club, where you will enjoy from the best things we have to offer, as you can see on this very image. So thank you very much for your time. Best to you and yours, and I'll see you soon with more. Bye for now and good trading.