Falcon Zone MTF Indicator

Falcon Zone MTF Indicator

Falcon Zone MTF Indicator For MT4 plots support and resistance zones automatically and provide buy and sell forex trading alerts

The Falcon Zone MTF indicator for MT4 plots support and resistance zones automatically. Additionally, it provides arrow based buy and sell forex trading signals with alerts. Furthermore, traders can use this MTF indicator to plot higher time frame support and resistance zones on current chart. As a result, forex traders can identify bullish and bearish reversals and trade accordingly.

The indicator is essential for new forex traders as it plots the support and resistance zones and avoids subjectivity. As a result, it helps new forex traders to avoid wrong judgment of the support and resistance zones. However, advanced traders can formulate trading strategies in confluence with other technical indicators for technical analysis. This indicator can be used for auto trading strategies.

Falcon Zone MTF Indicator For MT4 Trading Signals

The indicator plots the support zones with blue box and the resistance zone in gold. The trading strategy is based on the breakout and rejection trading rules of support and resistance. Additionally, traders can trade using the arrow trading alerts on the price chart.

Traders should consider opening a buy trade upon a bullish buy arrow trading signal. A stop loss below the previous swing low should secure this position. Since the indicator does not provide a profit target, traders can book profits at opposite trading signal or with a good RR.

Similarly, traders can enter sell positions if a down bearish arrow appears and use the above stop loss and take profit strategy.

Conclusion
In summary, the Falcon zone MTF indicator for MT4 is an essential trading tool effective for automatic identification of support and resistance zones.