What is the best indicator to use in trading?

Bollinger Bands are among the top Forex indicators that traders should be familiar with in 2024. These bands provide a statistical measure of the price levels in which a currency pair is trading. They are defined by upper and lower bands, which are set two standard deviations above and below a moving average.

Fibonacci Retracement is another essential indicator for Forex traders. It is based on the Fibonacci sequence and is used to predict the potential retracement levels of a currency pair after a significant move. By drawing Fibonacci retracement levels, traders can identify where the market may find support or resistance.

The Stochastic Oscillator is a momentum indicator that compares the closing price of a currency pair to its price range over a specified period. It is useful for identifying overbought and oversold conditions in the market. Traders can use this indicator to generate buy and sell signals based on the crossovers of its two lines.

Ichimoku Cloud is a technical analysis tool that combines five lines to form a "cloud." This cloud represents the market's trend and provides support and resistance levels. Traders can use the Ichimoku Cloud to identify potential entry and exit points, as well as to gauge the strength of a trend.

Parabolic SAR is a trend-following indicator that is used to determine the direction of a currency pair's price action. It places dots above the price when the trend is up and below the price when the trend is down. Traders can use the Parabolic SAR to identify potential reversals in the market.