Under multi-indicators refers to conventional, well – known trader’s indicators, but with a few differences. This article will help to understand why they are called so and what functions are performed by them.
3 main sections of Metatrafer 4 – 5
In the set of indicators in Metatrader trading platform of fourth or fifFth version you can find a great variety of tools for technical analysis, which are divided into three main sections: trend, oscillator and custom. Oscillators and trends indicate the direction of the trend or the price and volumes. Custom indicators in the Forex market often include both of the above functions.
Purpose and use of multi-indicators
Of course, every trader uses several indicators to trade, that clutter the graph of a currency pair. The so – called multi-indicators were created just for the purpose of “purification” of the terminal from a variety of indicators. The most common among the “multi-indic” traders is «Genesis Matrix». You should definitely read about it before working with it in Forex.
Basically multi-indicators are tables in which the indicators name displayed vertically and time slots horizontally. In other words, multi-indicators show the signals of several indicators on all time frames.
If during the trading table the cell at the intersection of indicator and slot becomes red, it means that the market is dominated by a downward trend or, as it is called by traders – “bear trend”. And if the cell is colored green, it means that the market at the moment is at the growth of the currency pair or dominated by “bullish trend”. Sometimes a table cell can take a yellow color, which indicates the uncertain market situation, often accompanied by lateral movement – “the flat”. This phenomenon occurs mostly before the news of a high degree of importance.
Pros and cons of multi-indicators
Let us now try to understand the advantages and disadvantages of multi-indicators in the Forex market. Of course, many multi-indicators are “advantageous” in comparison with conventional indicators because they tend to be grouped in the terminal. As already was mentioned, using these signals a trader sees several indicators, not cluttering the graph.
The only disadvantage is that a trader cannot see the graphic indicators themselves and the same time zones of oversold / overbought, of divergence, etc.