Market Way Indicator

Market Way Indicator

Market Way Indicator For MT4 measures the difference between bull’s and bear’s strength to provide buy and sell forex trading signals with a histogram.

The Market Way Indicator for MT4 measures the bull’s power and bear’s power and provides bullish and bearish forex trading signal using them. It measures the strength of bulls and bears and applies a moving average to them and provides a histogram. Effectively, this enables forex traders to trade using the principle of entering the market along the direction of the strongest market participants.

The indicator works effectively on all chart time frames and is suitable for scalping, short and long-term forex trading strategies. Additionally, traders can use this technical analysis tool to formulate auto trading strategies.

Market Way Indicator For MT4 Trading Signals

The indicator plots histogram with steel blue and gold representing the bullish and bearish strength respectively. Additionally, bull’s power is above the histogram zero line in green and its moving average line is in navy blue. Similarly, the bear’s power is below the zero line in pink and its SMA is in purple. The signal line is the red line which moves in between the bull’s power and bear’s power line.

The best trading strategy is to enter the markets with a buy trade upon the upward crossover of the signal line and the zero line. If the red signal line moves above the zero line of histogram traders should enter the market with a buy trade. Additionally, a stop loss should be placed below the previous swing low. However, traders should consider booking profits at the opposite trading signal.

A similar trading strategy can be followed to open a sell position if the signal line crosses the Zero line to the downside.

Conclusion
In summary, the Market Way Indicator for MT4 helps traders understand the difference between the strength of bulls and bears.