Reversal Forex indicator mt4

Reversal Forex indicator mt4

Working of reversal forex indicator mt4
When you apply this forex indicator to the charts, you will see yellow color dots with blue and red color circles around them. This indicator places a yellow color dot with a red color circle around it at the top of the chart candle, where the chart trend starts to go bearish.

Similarly, the forex indicator is a yellow color dot with a blue circle around it at the bottom of the chart candle, where the trend starts bullish.

Trading strategy for reversal forex indicator mt4
Buy entry signal
The indicator gives you a buy entry signal when it plots a yellow color dot with a blue circle around it. You can put your stop loss(SL) a few pips below the candle where the reversal occurred.

See also Triangle Retracement MT4 Strategy FREE Download

Sell entry signal
The indicator gives you a sell signal when it plots a yellow color dot with a red circle around it. You can put your stop loss(SL) a few pips above the candle where the reversal occurred.

Conclusion
Trading only based on reversal indicators is considered very risky. That’s why We always encourage you to use it with other reversal indicators where it can act as a confluence. Using that combination will have a higher probability of a winning signal and can save you stress and losses. One such good indicator is Aroon Indicator.