Octopus 1 Indicator

Octopus 1 Indicator

Octopus 1 indicator for mt4 – download free. Best trend following indicator. Accurate support and resistance mt4 indicator.

Octopus 1 indicator for MetaTrader is a custom trading indicator that was designed to follow the trend of the market. It paints histogram bars that depict different market sentiments; the green bar depicts a bullish move while the red bar shows a bearish move.

Furthermore, the histogram bars of this technical indicator also double up as a trend reversal signal. It signals a potential beginning (change of trend bias) or end of a trend.

The indicator would come in handy for identifying scalping, day/intraday, and swing trading opportunities in the forex market. Besides, it is also recommended for novice, intermediate and experienced traders.

How to Trade With Octopus 1 Indicator

The above screenshot depicts how the indicator would look on your MT4 chart. It also shows how to identify an optimal trade entry. The Octopus 1 indicator is recommended to be used along with price action/other technical indicators for better efficiency.

BUY and SELL Signals: Firstly, ensure the market is trending to the upside (for a BUY signal). Now, wait for the Octopus 1 indicator to paint a green bar which suggests a bullish move. You may then open a BUY/LONG entry after the price also shows a bullish candlestick pattern (bullish engulfing, order blocks, etc.).

The above scenario is also applicable to generating a SELL signal and entry. You may refer to the above screenshot for a better grasp of the BUY/SELL entries.

Conclusion
The Octopus 1 indicator for MT4 is suited for both trending and counter trend trading strategies. Nevertheless, ensure you maintain smart trading practices (e.g. trail Stop Loss when trade is in profit, etc.) as no indicator is a Holy Grail. Finally, the indicator is free to download.