Stone Axe X4X Indicator

Stone Axe X4X Indicator

Stone Axe X4X Indicator For MT4 provides buy and sell forex trading signals based on the close, high, low prices of previous n periods with the current one

The Stone Axe X4X indicators for MT4 compares the close, high and low price of three previous N periods to the current market values. It provides buy and sell forex trading signals based on these calculations. As a result, traders will be able to understand the trend direction and potential early trend reversal trading signals.

The indicator is simple to use and is suitable for new and advanced forex traders. Furthermore, traders can apply this indicator on all intraday price charts as well as the daily, weekly and month price charts. Moreover, traders can use this indicator in confluence with other technical indicators. It helps for additional confirmation of technical analysis and trading strategies.

Stone Axe X4X Indicator For MT4 Trade Setup

The indicator plots three lines blue, green and red in a separate oscillator window. The most important lines are the green and red lines. An effective trading strategy is to enter the markets upon the crossover of the green and red lines.

If the red line crosses the green line upwards, it indicates a bullish trading signal. So, forex traders should enter the markets with a buy trade and place a protective stop below the previous swing low. Similarly, traders should place take profit points at an opposite trading signal or with a good risk reward ratio.

A similar trading strategy can be applied in a bearish signal once the red line crosses the green line in a downward direction.

Conclusion
In summary, the Stone axe x4x indicator for MT4 is effective in confluence with other technical indicators. It is best to confirm the trend direction and trend reversal forex trading signals.