TSR Signal Line Indicator

TSR Signal Line Indicator

TSR Signal Line Indicator For MT4 provides buy and sell forex trading signals with bullish and bearish trend direction and strength.

The TSR signal line indicator provides forex trading bullish and bearish signals better than the classic moving averages. The signal line is an important component of the TSR – Trend Slope Retracement forex trading system. However, many forex traders use the signal line independently and trade according to its signals.

The indicator is simple to use and helps both new and advanced forex trader. Additionally, traders can apply this non repainting indicator on all chart time frames. It is important to mention that it works better using the complete TSR trading system.

TSR Signal Line Indicator For MT4 Trading Signals

The indicator plots a multi colored indicator line on the price chart. A lime color indicates bullish market condition while the red line indicates a bearish market. The simplest trading strategy is to enter and exit the markets based on the indicator line color change.

Traders should enter the markets with a buy trade if the indicator line color changes to lime. A stop loss below the previous swing low is required to secure this position. Traders should book profits if the indicator provides an opposite trading signal.

Similarly, traders should open a sell position if the indicator line changes red. Traders should place a stop loss above the previous swing high and book profits at opposite signal.

It is imperative to understand the components of TSR as this indicator caters to the Trend and Slope. While the line color indicates the trend direction, the angle of the line indicates the slope. A steep slope indicates a strong trend; this helps traders to identify the trend strength.

Conclusion
The TSR Signal Line indicator for MT4 is an effective and profitable indicator as it provides much smoother trading signals than moving averages.