This indicator treasure troves and displays on your chart graph arrows for the upper and lower values of the market prices. Therefore it gives the trader an accurate signal to enter a trade in the market. The indicator is worldwide and is fit for use in to trading any currency pairs and on any timeframes. However, the higher the timeframe being used, the less the likelihood of opening a trade due to a false signals.
The indicator is used to depict long term trends in the binary option market. When using this indicator you have to be very patient since its signals appears very rarely and at the same time they are not always exact. Therefore it would be wise if you incorporated another indicator with it.
The Indicator is aimed at operating on a Metatrader4 platforms. And it is worth trying especially if you are a long term trader who has no much time on the forex market charts.
The indicator usually displays two arrows; a blue and a red arrow. These are the signals that tells you whether to buy or sell.
Placing a Buy order: a trader is supposed to open a buy position once there is a blue arrow. The arrow points upwards as indicated on the above chart. This blue arrow indicates the onset of an upward trend which in most cases is a long term trend. Therefore once this blue arrow appears you should be ready for greater profits.
Hence when putting a stop loss for your buy orders you may opt putting it at a higher level. But don’t exaggerate the levels expecting much profits since something may happen and the market may reverse.
Placing a sell order: a trader is supposed to open a sell position once there is a red arrow. The arrow points downwards as indicated on the above chart. This red arrow indicates the onset of a downward trend which in most cases is also a long term trend. Therefore once this red arrow appears you should be ready to go for much more profits than is the norm with the short term trading or scalping.
Hence when putting a stop loss for your sell orders you may opt putting it at a much lower level. However you shouldn’t exaggerate the levels expecting much profits since something may happen and the market may reverse.
You should also remember to use stop losses if you are not planning to watch the market over a long time. This acts as a form of managing your risk in case the trend signal is not genuine. The stop loss may be set above or below nearest minimum level of exit that can be obtained by use of may be the support and resistant levels. Or you can choose the level depending on the basis of the history of the test indicator for a particular currency pair and timeframe.
Good luck.
