Cash Formula Forex Indicator is unique due to its unique signal generating capability. Usually we see forex trading indicator generate trading signals based on moving averages, RSI and other similar technical indicators. Cash formula generates trading signal on the basis of overbought and oversold conditions. It can be seen at the bottom of your chart. The indicator consists of two moving averages which are red and green in color and there is a dashed line which fluctuates within the range of these two moving averages. Basically the moving average on the top indicates the overbought conditions while the moving average at the bottom indicates the oversold conditions.
What we are looking to do here is, buy in extremely oversold conditions and sell in extremely overbought conditions. Although cash formula can be used in any kinds of market conditions it is highly recommended that you trade in a trending market because the signals are more reliable in a trending market. Also, make sure that you trade only in the direction of the major trend. At least by doing this there are higher chances of odd being in your favor.
When you install Cash Formula indicator on your trading system your chart should look like this:
Another advantage of cash formula trading system is it provides signal alert to its users. You can see above how this trading system gives you alert for your entries. Alert system tells you which currency pair to trade, what to do (whether long or short) and when.
When you are looking for a long position make sure that the moving averages of the cash formula indicator is trending higher. Similarly, when you are looking to short any currency pair,make sure that the moving averages are trending down. You should open a long position only when the dashed moving average touches the green moving average and conversely you should open a short position only when the dashed moving average touches the red moving average.
Buying Conditions using Cash Formula.
– The red and green moving averages should be up trending in overall.
– The dashed moving average should touch the green moving average and trend higher.
– Place your long position as soon as above conditions are met.
– Place your stop loss just below the recent swing low.
– Take profit when the dashed moving average falls back to touch the red moving average.
Selling Conditions Using Cash Formula.
– The red and green moving averages should be down trending in overall.
– The dashed moving average should touch the red moving average and trend lower.
– Place your short position as soon as above conditions are met.
– Place your stop loss just above the recent swing high.
– Take profit when the dashed moving average riseshigher to touch the green moving average.
Forex Indicators Download – Instructions
Cash Formula Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Cash Formula Forex Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
Do the same with template file (.tpl), if there is any, at File/Open Data Folder/templates.
How to install Cash Formula Forex Indicator.mq4?
- Download Cash Formula Forex Indicator.mq4
- Copy Cash Formula Forex Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Cash Formula Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Cash Formula Forex Indicator.mq4 is available on your Chart
How to remove Cash Formula Forex Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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