In Chapter 10 of his book, Forex Patterns and Probabilities: Trading Strategies for Trending and Range-bound Markets, forex specialist Ed Ponsi introduces what he calls "The Ultimate Indicator." Given the hundreds of technical indicators available to traders, which one is the "ultimate"? Ponsi's answer might surprise you. Ponsi is a professional trader and money manager who is the president of FXeducator.com. He has been the advisor to hedge funds, institutional investors and individual traders alike.
People often ask: what is the best indicator to use in forex trading? Is it the relative strength index (RSI), or exponential moving averages (EMAs), or perhaps Bollinger bands? Or is it something more esoteric? New indicators are being created every day, as market technicians attempt to leave their mark on the trading world. What is the ultimate forex indicator?
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