BW2 Wise Man Indicator

BW2 Wise Man Indicator

The BW2 Wise Man Indicator for MT4 displays buy and sell entries using the chaos theory concept.

The BW2 Wise Man Indicator for MT4 is a Forex trading tool designed to display trade entry signals using Bill Williams’ chaos theory. The indicator is a combination of other technical indicators like the Alligator, Awesome Oscillator, and Fractals.

The Alligator works with divergent bars on the chart, the Awesome Oscillator works with the momentum in the market, and the fractal looks for price breakouts. These all work in synergy under a set of rules to identify and display trade entry signals.

Therefore, the Bw2 Wise Man Indicator displays long (buy) and short (sell) entry signals when all the criteria are met. The indicator provides incredible signals for scalping, day/intraday, and swing trading. It can also used for adding more trade positions to a running trade.

Furthermore, this technical indicator makes it convenient for beginners and experienced Forex traders to find trade entry opportunities based on the Bill Williams chaos theory.

How to Trade with the BW2 Wise Man Indicator for MT4

The above image shows the buy/sell entries generated by the Bw2 Wise Man indicator on the EUR/USD pair.

The indicator’s signals are easy to decipher. Open a buy position when the indicator pops up a red dot below the candlestick and sell when the yellow dot appears above the candlestick.

Furthermore, it is best to take signals that align with the overall trend direction for more reliable entries.

So, in bullish market conditions, for instance, you may keep adding to your buy position anytime the indicator pops up buy signals. Finally, you may exit a running trade or trail the stop loss when the indicator displays an opposite signal.

Conclusion
The BW2 Wise Man Indicator makes it easy to trade using the chaos theory, which is a complicated trading strategy. Besides, the indicator is chart-friendly; therefore, traders can use it with other technical indicators for better trade efficiency.