Ultra Wizard Indicator

Ultra Wizard Indicator

Ultra Wizard Indicator For MT4 combines the values of MACD, Moving averages, and Stochastic indicators to provide a bullish or bearish probability score

The Ultra Wizard indicator for MT4 calculates and provides a probability score for the bullish and bearish price movement. The indicator provides this value by combining moving averages, stochastic indicator and MACD indicators. As a result, forex traders can decide to buy or sell with reference to the probability score.

The indicator works on all chart time frames and calculates the probability score of that time frame. Though it works for all types of traders, it is effective for scalpers. Moreover, it simple score is easy to understand for new and advanced forex traders.

Ultra Wizard Indicator For MT4 Trade Setup

The indicator provides probability score and direction of the trend. Moreover, it provides green bullish bars and red bearish bars based on the nature of Multi-info, Indice strength, currency pair range, MACD and Stochastic indicators.

The trading strategy is based on the number of green or red bars combined with the probability score. If more than 3 bars are bullish with a probability score higher than 50 traders should enter a buy trade. A stop loss below the previous swing low would secure the position.

Similarly, if there are more than 3 red bars with a probability score higher than 50 traders should consider entering a sell position. The indicator does not provide a profit target so; consider exiting the trade if the probability score falls back or if the number of bars changes to opposite color.

Conclusion
In summary, the Ultra wizard indicator for MT4 summarizes the output of multiple indicators and derives a bullish or bearish probability score.