FX Fish Indicator

FX Fish Indicator

The FX Fish indicator for MT4 is a trend-based financial market analyzer that displays buy/sell entry zones.

The FX Fish indicator for MetaTrader 4 (MT4) is a trend-following oscillator that displays the trend conditions in the financial market and signals buy/sell entry zones. Its algorithm uses a 10-day period of price history to predict the end/beginning of a trend, plus the direction.

The indicator displays the trend information of a financial trading instrument with the histogram bars, which alternate between the zero level. Thus, the potential end of a trend is determined when a histogram bar crosses above or below the zero line, which also doubles as a buy/sell signal.

Therefore, the indicator prints a lime histogram bar above the zero line, suggesting the end of a bearish trend and a potential bullish move. Similarly, a red histogram bar below the zero line indicates the possible end of a bullish trend, which also signals a bearish trend.

Furthermore, the indicator would continue to print the lime/red histogram bars above/below the zero line, indicating trend continuation.

How to Trade with the FX Fish Indicator

The above image shows the buy/sell signals generated by the FX Fish indicator. The lime histogram bars are the buy signals, while the red bars are the sell signals.

However, to get the best out of the FX Fish indicator for MT4, you need to take only the signals that align with the primary trend direction of the market.

Therefore, in a bullish trend, for instance, you may open a buy/long position when the indicator prints a new lime-colored histogram. The first lime bar suggests the possible end of the bearish pullback and the potential continuation of the bullish move.

Conclusion
The FX Fish indicator for MT4 delivers easy-to-understand trading signals, which makes it ideal for beginners, intermediate, and advanced forex traders. Finally, it is also suited for scalpers and day/intraday traders.