Bulls Eye Forecaster Indicator

Bulls Eye Forecaster Indicator

The Bulls Eye Forecaster Indicator for MT4 is a forex trading tool with algorithms that detect trend reversal/direction of a financial market.

The Bulls Eye Forecaster indicator for MetaTrader 4 is a technical analysis tool that tries to predict the possible trend reversal/direction of a financial asset. It oscillates on the main chart with red dotted lines that defines a trend into bullish and bearish sentiments. Thus, a trend is considered bullish/bearish when the indicator’s line is below/above the price.

The indicator is ideal for different trading styles like scalping, day/intraday, and swing trading. Besides, it is also chart-friendly, which makes it suitable to be used along with other technical indicators without making your chart messy.

How to Trade With the Bulls Eye Forecaster Indicator

The above image depicts the action of the indicator on a EURUSD currency pair in the H4 timeframe. It shows how a sell signal/entry was identified using the indicator and price action.

From the image, you can see that the trend is bearish, which implies that only sell opportunities would be sought after. Furthermore, the price was below the Bulls Eye Forecaster Indicator, which suggests a potential bearish move. Finally, a selling opportunity was identified after price action printed a supply zone, retested it, and closed with a bearish candlestick below the indicator’s line.

Conclusion
The Bulls Eye Forecaster Indicator for MT4 is a technical trading tool that would help you to easily identify a potential reversal zone and trend direction of an asset. What’s more, it would come in handy as a confluence for both novice/intermediate and advanced forex traders in making better trade decisions. Finally, it is free to download.