Trading Signals Indicator

Trading Signals Indicator

The Trading Signals Indicator for MT4 gives forex traders signals based on the reversal of the ability of the market.

There are many indicators that give Trading Signals in the forex market. Most of these indicators are complicated to use. These indicators are even more confusing to new forex traders who have little understanding of trading. The Trading Signals Indicator, however, can be used to give accurate signals that all traders can interpret.

The foundation
The Trading Signals Indicator for MT4 gives buy and sell signals based on price reversal setup. The signals generated by this indicator are very accurate and profitable. Moreover, this indicator is very simple and easy to use.

The indicator generates its signals by displaying red (sell) and aqua (buy) arrows on the chart as seen in the diagram below.

This indicator can be effectively used by new forex traders who have little knowledge on trading. These traders can use the signals this indicator gives to enter and exit the market accurately.

Professional traders can also use this indicator solely or with other signal-generating indicators. Furthermore, traders who use market structure, price action and candlestick analysis can also use this indicator. These traders can use this indicator as a confirmation to enter or exit trades.

This indicator works in all time frames, but it is best used on hourly and daily time frames (H1, H4 and D1). This is because the M1 to M30 time frames give more false signals compared to higher time frames.

How to use the Trading Signals Indicator
The Trading signals Indicator gives accurate signals in all market environments. Thus, traders can use this indicator to trade both a ranging and trending market. The diagram below shows how this indicator can be used to enter a trading position in the forex market.

From the GBP/USD H1 chart above, the indicator shows buy and sell signals both in a ranging and trending market. The ranging market is identified with the two green horizontal lines on the chart above. These lines are serving as the support and resistance levels. Once the indicator shows a red arrow around the upper horizontal line, traders can enter short trades. This is because the upper horizontal line (green line) serves as a supply zone where many sell orders are placed.

Contrarily, once the indicator displays an aqua color around the lower horizontal line, traders can place long trades. This is because the lower horizonal line is a high demand zone where many buy orders are placed.

Furthermore, the trending market is identified with upper and lower trend lines on the chart above. These lines like in a ranging market also serve as dynamic support and resistance levels. Once the indicator displayed a red arrow around the upper trend line (red line), traders can enter short trades. Contrarily, when the indicator paints an aqua color around the lower trend line (red line), traders can enter long trades.

A long position should be closed when the indicator shows a red arrow, which implies a bearish market is imminent. Also, a short position should be closed when the indicator displayed an aqua arrow, which implies a bullish run is imminent.

Conclusion
The Trading Signals Indicator for MT4 gives forex traders signals based on the reversal of the ability of the market. This indicator can be used by newbies as well as professional traders because of its simplicity. The indicator works in all time frames, but higher time frames are recommended. The indicator can be used solely or together with other indicator for entry and exit confirmation.