Round Price Ext Indicator

Round Price Ext Indicator

Round Price Ext Indicator for MT5 provides forex trend following trading signals using T3 and smoothing factor for profitable trading results.

The Round Price Ext indicator for MT5 displays seven T3 lines on the chart of a given currency pair. The indicator follows the market very closely as it uses the T3 method. In addition, the smoothing period helps Forex traders adjust the indicator’s performance when moving from short-term to long-term trading strategies.

The indicator is suitable for beginners and experienced Forex traders. Moreover, it helps intraday, short-term and long-term traders to identify and follow the trend. However, forex day traders may not be able to achieve the best trading results.

This trend following indicator can be used by Forex traders to develop automated trading strategies.

Round Price Ext Indicator For MT5 Trading Signals

The indicator plots seven T3 lines in gold, red, lime, aqua, blue, magenta and purple. The most important one is the red line which acts as the signal line. A best trading strategy is to enter the markets if the red line crosses all the other lines.

Traders should enter a buy trade if the red line crosses above all the lines. Traders should consider placing a stop loss below the previous swing low and book profits at the opposite trading signal.

As a trend following strategy traders should maximize the profit potential of this indicator and hold the positions as long as possible. On the other hand, traders can enter sell positions if the red line crosses all the other lines and moves lower. At this juncture, traders can use a similar stop loss and profit booking strategy as mentioned earlier.

Conclusion
In summary, the Round Price Ext indicator for MT5 is an essential tool for forex trend traders as it provides profitable trading results in trending markets.