FOREX REVERSAL INDICATOR MT4
The indicator is in the TOP 10 which show trend reversals and is suitable for intraday trading.
- Its indicator is one of the most reliable reversal indicators. It appears on your charts in the form of yellow dots coated in red and blue rings. The yellow dot in red rings appears at market tops to signify a reversal to downtrends. Blue rings around yellow dots suggest a reversal to the uptrend.
How to use Forex Reversal Indicator in your trading
- The first impulse of many forex traders might be to avoid this trend reversal indicator because it tends to repaint signals. However, there are ways to use the indicator without having much trouble when it repaints.
Combining our indicator with other trend trading indicators
- Let’s use the FXSSI Trix Crossover indicator as our other trend trading indicator, for instance. Open it alongside the trend reversal indicator on your MT4. All you then need to do is to trade in the direction of the trend. If our reversal indicator says the market has reversed to an uptrend, use the Trix Crossover to make all uptrend trades as long as the trend remains. And when the indicator changes its bias to a downtrend, use the Trix Crossover to scout for downtrend entries alone.
Trading the signals of the forex reversal indicator
- This is a riskier method to use this indicator since it repaints its signals. A way around this is to only use the signals in confluence with signals from other technical analysis tools. The technical analysis tools could be simple resistance and support levels, indicators, price action, or more. When more technical analysis tools confirm the signals of the forex reversal indicator, the signals have more credibility.
Who is The Forex Reversal Indicator Best For?
- Indicator is best for expert and intermediate forex traders. These traders may already have some experience in combining different strategies and tools to get trading signals. Also, traders, such as swing and position traders, who trade on higher timeframes might find more reliable signals using this trend reversal indicator. Scalpers should steer clear of this indicator.
