The “best” indicator cannot be determined conclusively, because the effectiveness of the indicator depends on the strategy used and the market in which it is traded. However, there are some popular and widely used indicators in the TradingView platform that have proven their effectiveness over time.
Among these indicators:
1. Relative Strength Index (RSI): It is used to measure the speed and size of price movements, and is considered one of the common indicators to identify cases of overbought and oversold.
2. Moving Averages: Whether simple (SMA) or exponential (EMA), they are used to identify trends and generate buy and sell signals.
3. Moving Average Convergence Divergence (MACD): Combines moving averages and is used to identify momentum and trends.
4. Bollinger Bands indicator: It is used to determine fluctuations in the market and determine support and resistance levels.
5. Fibonacci Retracement indicator: It is used to determine potential support and resistance levels based on Fibonacci ratios.
6. Ichimoku Cloud indicator: Provides a comprehensive view of the market by identifying trends, support and resistance levels, and momentum.
All of these indicators have their advantages and disadvantages, and choosing the right indicator depends on your strategy and the type of market you are trading. You can also combine several indicators to create an integrated trading strategy.
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