Yefekt Indicator

Yefekt Indicator

The Yefekt indicator for MT4 detects trend reversal trading opportunities for scalpers and day/intraday forex traders.

The Yeefekt Indicator for MetaTrader 4 (MT4) is a trend reversal indicator with histogram bars for detecting extreme zones of the price. It designates the +0.5 level as the bullish zone and the -0.5 level as the bearish zone. Besides, the lime-colored bars depict a potential bullish trend, while the red bars suggest a bearish trend.

Furthermore, the -0.5 and +0.5 levels are also the elastic limit for a bearish/bullish trend, respectively. In other words, the price of a financial instrument may change direction (reverse) when the histogram bar crosses above/below +0.5/-0.5 elastic limit zones.

Thus, the market is bullish when the lime histogram bar is displayed within the +0.5 level, while a bearish trend is when the histogram bars appear in the -0.5 zone.

How to Trade with the Yefekt Indicator

The above picture shows the action of the Yefekt indicator on the EUR/USD currency pair in the H4 timeframe.

The indicator delivers a more credible signal in a trend market condition. Therefore, it is suitable to be used after the market structure has conformed to a bullish or bearish pattern. Furthermore, using the indicator with price action/other technical indicators would help to identify an optimal trade entry zone.

So, in a downtrend, for instance, you wait for the red histogram bar to be displayed (which corroborates the bearish trend), then look for an entry opportunity (using price action/other indicators ) to join the trend.

Conclusion
The Yefekt indicator for MT4 is a simple trend reversal forex indicator that suggests the ideal time to buy or sell an asset. What’s more, it identifies scalping and day/intraday trading opportunities in the market.