Gold Miner 2 Indicator

Gold Miner 2 Indicator

The Gold Miner 2 indicator for MT4 is a trend analysis tool that delivers accurate buy and sell trade setups.

The Gold Miner 2 indicator for MetaTrader 4 is a trend analysis tool that delivers accurate buy and sell trade setups. It portrays the trend direction with the deep blue and red histogram bars. Besides, the histogram bars of the indicator rarely repaint, thereby delivering more accurate and reliable trade signals.

Furthermore, it is important to state that the Gold Miner 2 indicator isn’t meant for trading gold setups alone, as the name may suggest. Therefore, suffice it to say that the indicator works on any currency pair and delivers great trading signals as well.

Besides, you may use the indicator to identify scalping or day/intraday trading opportunities, depending on the time frame of choice. However, it is instructive to note that using the indicator along with price action or other technical trading tools would increase your overall winning rate. Moreover, it is also recommended to be used in a trending market for better efficiency. After all, the trend is your friend, they say.

How to Trade with the Gold Miner 2 indicator

The above image depicts the action of the indicator on the EURUSD currency pair in the H1 timeframe. The deep blue sky bar of the indicator portrays a potential bullish move (buy signal), while the red bar suggests a potential bearish move (sell signal).

Therefore, you may open a buy/long position when the indicator paints the deep blue bar or sell/short when the red bar is displayed. However, it is better to use the indicator as a confluence with price action (as illustrated in the above image) or with any technical analysis tool to get high-probability trade entries.

Conclusion
The Gold Miner 2 indicator for MT4 is easy to use, which makes it suitable for both novice and advanced forex traders. Furthermore, it is recommended to be used in confluence with either price action or other trend analysis tools to filter out false signals. Finally, it is free to download.