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Entry Exit Trend Forex Indicator For MT4 Free Download
Entry Exit Trend forex indicator shows buy and sell entry signals on the mt4 chart and ATR value. The information displayed by the forex indicator can be used by traders as a reference to open and close positions.
There are many trend following indicators that require analysis and a solid technical background to work with the trend intensity index. But this forex trend indicator is so simple that a trader who knows the meaning of open short and long positions can open a trade with this indicator.
How the Forex Best Trend Indicator Works
When you apply this MT4 trend following indicators to the charts, the indicator shows buy and sell signals. The indicator will also display the ATR value line and entry signals.
There will be a sell entry signal at a high and the forex indicator will show a buy signal at a low on the chart.
See Also : Fibonacci Retracement Forex Indicator
Also, when you change the setting to show long-term signals, the indicator will give little fewer signals, but the signals will be more accurate and perform better.
Indicator Settings
In the indicator settings, you can change the ATR line to show or hide;
you can also change the value of the ATR period to change the frequency of the signal.
Trading Strategy of Trend Finder Indicator for entry and exit
The trading strategy for this indicator is very simple.
Buy Condition
- It is better if you buy when the indicator gives a buy signal on the chart. A blue upward arrow will indicate a buy signal.
- The stop loss will be the final low.
- A profit level will be achieved when the indicator gives a sell signal.
Selling Condition
- It is very helpful to sell short when the indicator gives a sell signal on the chart. A red down arrow will represent a sell signal.
- Stop loss will be the last swing high.
- The profit level will be obtained when the indicator gives a buy signal.
See Also : Tornado Scalping Strategy
Conclusion
This indicator is one of the simplest in the trend indicators list that you will find.
Furthermore, following the trading strategy for the trendline breakout is very simple. I recommend using the indicator in combination with the S/R level indicator or wave trend indicator.
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