Multi Range Calculator Indicator

Pz Flat Market Index Indicator

Forex BUY and SELL signals from the best Pz Flat Market Index Indicator. Uses signal lines to detect the market trend.

The Pz Flat Market Index Indicator for MT4 develops two signal lines to determine the direction of the trend. It uses ATR (Average True Range) lines for telling signals. The name of these lines is ATR and ATR multiplier. The indicator works like a normal oscillator like the Stochastics and fluctuates between 0 and 100. Like other oscillators, the Indicator presents with overbought and oversold areas.

When the Indicator is above 70, it’s in overbought territory. On the flip side, when the indicator is below 30, it is in an oversold condition. By determining the overbought and oversold levels, traders can find exact entry and exit points. When looking for trading signals, traders should apply the indicator on longer timeframes, as the Indicator is prone to false signals on lower timeframes.

Pz Flat Market Index Indicator BUY/SELL signals

The above GBP/USD H4 chart shows the BUY and SELL signals with the indicator. To determine the BUY and SELL signals, traders need to look at the overbought and oversold conditions. When the Pz Flat Market Index Indicator is above 70, it indicates a reversal of an uptrend. Here traders should take short positions or exit longer ones. On the other hand, when the indicator is below 30, it mentions the reversal of a downtrend. In this situation, traders need to take buy positions or exit the short ones.

The two lines of the indicator present a clear picture of where the market is heading. They fluctuate with different periods, and whenever their crossover happens, it is usually a sign of a stronger trend. It’s important to note that whenever there is a downtrend, the Indicator makes the ATR line red.

The other thing to note down is the neutral levels. The Indicator shows neutrality at 40, 50, and 60. If the price moves in between those levels, then traders should refrain from taking further positions. As with other momentum oscillators, it is best to combine them with other indicators. With the Pz Flat Market Index Indicator, traders can use Moving Averages or Bollinger Bands for further signal confirmation.

Conclusion
The Pz Flat Market Index Indicator for MT4 is a momentum indicator that draws levels of overbought and oversold to determine the market trend. In addition, you can download the indicator for free from our website.