Forex King Mt4 Trading Indicator is new and best profit gainers Metatrader 4 Indicator, proper use of Forex King Mt4 Trading Indicator can make you a successful forex trader.
Forex King Mt4 Trading Indicators and their performance.
A classic indicator that combines several approaches to market analysis and is designed to identify trends, support lines, and resistance and generating buy/sell signals. In this strategy, we will use parameters 7, 42, 52 instead of the standard ones. Market entry carried out depending on the position of the current price relative to Ichimoku blue line indicator
An additional trend indicator for filtering signals. The entrance to the market is carried out depending on the color of the bar graph in the bottom parts of the graph.
Another trend indicator for filtering signals. Market entry carried out depending on the color of the bar graph in the lower part graphics. As with the previous indicator, the Forex King strategy standard parameters for this indicator are used.
Suitable currency pairs for Forex King Mt4 Trading Indicator
Any, but preferably majors - EUR / USD, GBP / USD, USD / JPY, USD / CAD, AUD / USD and other pairs with the American dollar.
Suitable time frames for Forex King Mt4 Trading Indicator:
M15, M30, H1, H4 (Doesn't recommend trading on the M5 or M1 timeframe)
WARNINGS: Orders must be opened on the next candle after fixing signal (the coincidence of all conditions described below) because of some indicators
can be redrawn on the current candle
Conditions for opening a buy order:
• The price is above the blue line of the Ichimoku indicator
• Blue GannHiLo-Histo Bar Graph
• Blue bar graph GG-RSI-CCI1
(all conditions must be met at the same time!
Conditions for opening a sell order:
• The price is below the blue line of the Ichimoku indicator
• Red bar graph GannHiLo-Histo
• Red bar graph GG-RSI-CCI1
(all conditions must be met at the same time!)
• Take profit
• When an opposite signal from the lower indicators appears
(GannHiLo-Histo and GG-RSI-CCI1).
• Trend reversal on higher timeframes.
It is advisable to use stop loss and take profit (at the next levels minimum / maximum) or trailing stop (optimally 15 points).
When testing the EUR / USD strategy on M30, take profit 300 was used pips and stop loss of 50 pips.
Trading on the news
It is recommended to suspend trading for half an hour before leaving and after news release on the currency in a pair.
For your convenience, at the beginning of the trading day, save yourself a list of important news on Today. The Investing.com website will help you with this: http://www.investing.com/economic-calendar
Using candlestick analysis
A bonus to this system is the Candlestick indicator, designed to an analysis of the most common candlestick patterns. Possession of candlestick analysis will help the trader make the right decision and gain an advantage over other market players in situations where technical indicators cannot give an unambiguous answer.
The Candlestick indicator automatically indicates all popular patterns, for example, hammer, harami, hanged, bull/bear absorption, dark clouds, penetrating lines, evening and shooting star, etc
Using VSA Analysis
Volume analysis in the Forex market is used by professionals, therefore, how in addition to our strategy, you can use the Better Volume indicator
(Install the “BetterVolume 1.5a Alerts mod.ex4” file in the same way). Using this indicator, you can not only track the volume but also analyze market trends. The indicator colors the columns in a different color, depending on the market situation and serves primary signals to certain actions:
Mother of pearl color:
Large volume and bullish (rising) candle with a large range. Appears at the beginning and end of uptrends, and during a correction in the bearish (descending) market.
Large volume and bearish (descending) candle with a large range. The signal appears at the beginning and at the end of downtrends, as well as during correction in a bull (growing) market.
Large volume on a candle with a small range. Occurs at the end of trend movements (market makers “dump” their positions simply traders who will ultimately suffer losses as they enter the market at the very end of the trend, just before its reversal), as well as during fixation arrived in the middle of the trend (on correction).
Large volume on a group of candles with a large and small range. It occurs very rarely and usually on corrections.
Candles with a small teak volume. Usually formed at the end trends and during corrections.
When there are no signals, the indicator shows white columns.
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