EATA Indicator

EATA Indicator

The EATA indicator for MT4 is a trend reversal indicator that displays buy/sell signal arrows.

The EATA indicator for MetaTrader 4 is a trend-following system that uses a synergy of the Relative Strength Index (RSI) and the Commodity Channel Index (CCI) to identify potential trend-reversal zones. The infusion of the RSI and CCI is to ensure a double confirmation of a potential turning point of the price before it paints a buy/sell signal.

This oscillator-based indicator delivers high-probability trade signals for scalpers and day/intraday forex traders. The signals may also be used filtered using price action or any other technical indicator to enhance the winning ratio.

Buy/Sell Signals of the EATA Indicator

The above image displays the action of the EATA indicator on the EURUSD currency pair in the H4 timeframe. The buy/sell signal of the indicator is generated when the blue and red lines cross over each other. Besides, the indicator also comes with green and red arrows to highlight the buy/sell signals/entries.

So, open a buy/long position when the indicator displays the green arrow and sell/short after it paints the red arrows. Furthermore, you may use the opposite signal to exit a running trade. However, sticking to a fixed risk-to-reward ratio tends to be more profitable in the long run. For instance, a 1:2 risk-to-reward would suffice.

Conclusion
The EATA indicator for MT4 is a great indicator that would help you to take advantage of a trend reversal at the early stage. Besides, the indicator may also be used to join an already-established trend after a pullback. Finally, it is free to download.