Technical oscillators can work well in all respects, but one of the signifcant drawbacks is that such trading tools take into account the situation only on the current timeframe. Larry Williams decided to try and fix this problem when he created the Ultimate Oscillator in 1976 to measure the price momentum of an asset across multiple timeframes. Before proceeding to the description of the indicator, we should focus on the personality of Larry Williams himself, as many novice traders confuse him with his namesake Bill Williams. Among professional traders, this person is considered one of the most respected teachers, since …READ MORE
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The Traders Dynamic Index (TDI) is a versatile trading indicator that is based on a combination of technical analysis. The TDI indicator implements the standard RSI indicator, which determines the strength of the current trend, or if you want, the rate of change in price. The moving averages algorithm is used to smooth the lines, and Bollinger bands are used to estimate the amplitude of the oscillations. Thanks to an integrated approach, the TDI indicator alone can be used as a complete trading system. What is the TDI indicator? The green line is a smooth RSI line with a small …READ MORE
The McClellan Oscillator is an indicator of technical analysis from the family of oscillators, developed and implemented by Sherman and Marian McClellan in 1969. It is a breadth indicator derived from Net Advances, which is the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator. The indicator can be used for forex trading and other markets such as stocks, indices, commodities and precious metals. The McClellan Oscillator is a momentum indicator that works similar to the MACD indicator. …READ MORE
The Elliot Wave Oscillator is a forex trading indicator that includes oscillatory waves. The Elliott Wave Oscillator is the difference of, a 34 and a 5 period, simple moving average (SMA). The Elliott Wave Oscillator has been created to help in the process of identification of the Elliott’s Waves and of the market trends. Just as the name implies, the Elliot Wave Oscillator is a wave indicator that combines a wave and an oscillator. Most of the other oscillators have mainly bars, oscillating on either side of the centerline. This technical indicator is very similar in appearance and use to …READ MORE
The triple exponential average (TRIX) indicator was first presented in the 1980s by Jack Hutson, who worked as an editor for a magazine on technical analysis in the area of stocks and commodities. The TRIX indicator is an oscillator that is primarily used to identify oversold and overbought market conditions whilst it can also be used as a momentum indicator. TRIX uses a triple smoothing to help filter out insignificant price movements, also known as “market noise”. A signal line can be applied to look for signal line crossovers whereas directional bias can be determined with absolute levels and bullish/bearish …READ MORE
A few years ago, the Fisher Transform indicator appeared in the public domain, becoming a popular technical analysis indicator for online forex trading. The Fisher Transform indicator transfigures price into a Gaussian normal distribution. The indicator is easy to use and interpret, often used to help traders identify potential overbought and oversold market conditions. The Fisher Transform indicator was created by John Ehlers and often used for reversal trading strategies. What is the Fisher Transform indicator? The Fisher Transform indicator is a fairly simple histogram oscillator. It is not based on standard methods and builds its calculations on max / …READ MORE
Momentum traders rely on technical indicators to measure the dynamics of price activity based on a particular level of an asset. Their approach is opposite to that of a long-term investor in the sense that a dynamic trader wants to trade with a trend. As the asset price grows, the trader buys it and hopes to benefit from the price increase in the short term. Because trends can evolve rapidly, success depends on investment dynamics analyzed through a combination of technical indicators. One such indicator is the stochastic oscillator. It is a momentum indicator that calculates the current close price …READ MORE
Channel trading is one of the most popular types of trading strategies in the forex currency market. A price channel is a pair of parallel lines that form a chart pattern for trading instruments such as forex currency pairs, stocks or commodities. Channels may be horizontal, ascending or descending. Price channels can quickly and easily be marked on charts to find potential areas where price may breakout or reverse. When the price passes through and stays through a channel representing support or resistance, the trend is said to be broken and there is a “breakout”. If price bounces from the …READ MORE
Moving averages are possibly one of the most popular technical indicators used by forex traders. Moving averages provide traders with a quick and easy way to identify market trends on charts. Most trading strategies will use some form of trend analysis to ensure that they either stay on the correct side of the trend or avoid trading in a range bound market, unless of course using a range trading strategy. In addition to the popular simple and exponential moving averages, there is an additional moving average developed by Alan Hull that is aptly named as the Hull Moving Average (HMA). …READ MORE