FOREX ENTRY POINT INDICATOR MT4
Special Forex Entry Point indicator that provides accurate buy and sell signals. The indicator alerts investors when there are suitable trading opportunities including well curated entry and exit points.
- Technical analysts rely on indicators and price action to determine the entry-exit point of a trade. However, some indicators require thorough analysis to determine the price direction.
- This means you should be keen to identify potential market reversals, continuations, and breakout to catch profitable trades. Therefore, a simple mistake will render your analysis null and void. Luckily there are simple indicators that provide traders with straightforward entry and exit signals.
- For example, with the Forex Entry Point indicator, you do not have to do any analysis. The indicator does all the job for you. In fact, it has no colossal lines and colors that make the price chart hard to decipher.
It predicts potential price changes on the market movement and displays turquoise and pink vertical lines.
The best part is that you can use the indicator combination with other trading strategies. Additionally, you can use it in any time frame.
For scalping, you can use it in 1 min and 5 mins. You can also use longer time frames, including 1 hour, 4 hour, and daily time frames.
The indicator works in any currency pair including, USD majors and crosses. However, it works best in highly volatile Pairs such as GBP/JPY. Additionally, the indicator can be used by both seasoned traders and newbies because it does not involve lots of analytical work.
Buy and Sell signals Forex Entry Point Indicator
- Now, you have a clear picture of the indicator, figurative and literally. Now, you are probably wondering, how you use the indicator to open profitable buy and sell signals?
Well, the indicator produces two colors; Aqua and magenta. An aqua color on the forex entry point indicator gives a buy signal. It is imperative that you wait for the bar to close. For a buy signal, you should exit when the indicator produces a magenta vertical color. The color signals a price reversal.
On the other hand, a sell signal appears when the indicator produces a vertical magenta color. Also, wait for the bar too close to get a genuine signal. For example, when the indicator produces an aqua color, you should close the short position because it signals a price reversal.
- However, you can use other exit strategies, including the 1:3 risk to reward ratio.
Trading Example
- As mentioned, using this indicator is relatively straightforward. Note the price surged significantly when the indicator produced an aqua color. Similarly, when the price posted a magenta color, the price plummeted significantly. You just need to keep tabs on the price movement to detect the color appearance as soon as it appears.
Conclusion
- The Forex entry point indicator is one of the easiest indicators to use. You just have to wait for the indicator to produce the color and jump to take the trading opportunities. Additionally, even novice traders can take advantage of this indicator. Like other indicators, the forex entry point is best used in combination with other indicators to get better signals.
