Yzyz Indicator

Yzyz Indicator

Forex trend reversal indicator. MT4 arrow indicator.

The Yzyz indicator for MetaTrader is a technical trading tool for identifying optimal trend reversal levels in a forex market. The indicator can also be used by trend traders for spotting trend continuation setups.

The Yzyz indicator for MT4 is an arrow indicator built with moving average crossover to indicate a potential reversal point of price. This in turn gives you a clearer and easier to read chart than looking at the traditional moving average for crossover.

The indicator delivers pretty good signals on the higher time frames than when used on the lower time frames. It is also recommended for both novice and experienced forex traders for better trade analysis.

Furthermore, the Yzyz indicator is compatible with different trading styles like scalping, day/intraday, and swing trading. It can help to enhance your trade accuracy, especially when combined with price action/other indicators.

Ideally, the indicator shouldn’t be used in isolation because the financial market is moved by different factors. In essence, the indicator is better used as a confluence for making trade decisions (entries/exits).

Yzyz Indicator BUY/SELL Signals

To start with, the Yzyz indicator for MT4 uses arrows to paint a BUY/SELL signal when certain technical conditions are met (moving average crossover). BUY signals are depicted by the lime-colored arrows while SELL signals are indicated by the red arrows.

The above screenshot shows how the Yzyz indicator would look on your chart. The sample chart demonstrates how to use the indicator along with technical analysis to harness its full potential. We aim to BUY/SELL at strategic levels for optimal trade entry (OTE).

BUY Setup: first, wait for the lime arrow of the indicator to appear, open a BUY/LONG position after a clear reversal sign. The above BUY signal is confirmed by the bullish engulfing candlestick pattern which coincides with the BUY arrow.

SELL Setup: firstly, wait for the red arrow of the indicator to appear, open a SELL/SHORT position in sync with price action. One of the above SELL signals was taken at the retest of an order block (OB). The arrow confirmed that the OB was valid and the price was willing to reverse.

Your Take Profit shouldn’t necessarily be after the appearance of an opposite signal; it should be realistic. Your Stop Loss should come to a few pips below/above the signal arrow as the case may be. In general, 1:1 to 1:2 risks to reward should be fine.

Conclusion
The Yzyz indicator for MT4 helps you to further confirm a trade setup before opening a position. The indicator is simple but powerful enough to help you spot a good trading opportunity. What’s more, it is available for free to download.