Recommended books
- Essentials of Foreign Exchange Trading
- Beat the Forex Dealer: An insider's look into trading today's foreign exchange market (Wiley Trading)
- The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader (Wiley Trading)
- Survive and Prosper in the Great Depression of 2009-2012: A Step-By-Step Guide to Amassing a Fortune Trading Foreign Currencies
- High-Powered Investing All-In-One For Dummies
- The 10 Essentials of Forex Trading
- Sentiment in the Forex Market: Indicators and Strategies To Profit from Crowd Behavior and Market Extremes (Wiley Trading)
- Getting Started in Forex Trading Strategies
| MACD (Moving Average Convergence Divergence) |
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Description: The MACD is similar to a bandpass filter, filtering out low frequencies and high frequencies at the same time. It is simply the difference between a short moving average and a long moving average. Standard setting is a 26 bar EMA (long MA) and a 12 bar EMA (short MA), with a 9 bar EMA signal line. Some proposes a 34 bar EMA (long MA) and a 5 bar EMA (short MA), with a 5 bar EMA signal line. The difference between MACD and the signal line produces the MACD Histogram, which most traders use due to faster signals. The MACD is one of the most popular indicators among traders. Usage: Divergence setups, Direction change, Crossovers (with zero). |
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- True Strength Index (TSI)
- Relative Strength Index (RSI)
- ZigZag indicator
- Bollinger Bands
- Average Weekly Earnings
- Capital Flows (TIC)
- Wholesale inventories
- IFO index
- Chicago Purchasing Managers' Index (PMI)
- Non Farm Payroll (NFP)
- Consumer Price Index (CPI)
- Balance of trade
- Unit labor costs
- Retail Sales
- Trade Balance
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