Direction Forex Indicator is a forex trading indicator which is used in metatrader 4 platform. It is very suitable for making buy and sell decisions. Direction indicator is an advanced technical indicator and this single indicator will give you many information about the price action of the market. It can be used by beginner trader as well. It basically lets you enter in the beginning of the new swing. You can have profitable trading with high level of accuracy if you take trades only in the direction of the general trend of the market.
Direction Indicator is more concerned with direction of the market than anything else. Direction indicator helps you figure out the direction of the ongoing market trend. This indicator will also warn about the potential trend reversals. Direction indicator will also help you know the support and resistance of the market.
When it is correctly installed in your trading platform, your chart should look like this:
Direction indicator is a combination of several other indicators. This indicator consists of parabolic sar, arrows, and zigzag indicator. Getting all these indicators in a single indicator is a good thing to have. When you see a green arrow below the chart, it’s a buy signal and when you see a red arrow above the chart, it’s a sell signal. These signals should be supported by the parabolic sar.
Buying Conditions Using Direction Indicator.
– Market should be up trending.
– A green arrow should appear below the market.
– Parabolic sar should appear below the market.
– Place your long position as soon as above conditions are met.
– Place your stop loss just below the recent swing low.
– Take your profit when a red arrow appears above the market.
Selling Conditions Using Direction Indicator.
– Market should be down trending.
– A red arrow should appear above the market.
– Parabolic sar should appear above the market.
– Place your short position as soon as above conditions are met.
– Place your stop loss just above the recent swing high.
– Take your profit when a green arrow appears below the market.
Forex Indicators Download – Instructions
Direction Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Direction 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 Direction Forex Indicator.mq4?
- Download Direction Forex Indicator.mq4
- Copy Direction 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 Direction Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Direction Forex Indicator.mq4 is available on your Chart
How to remove Direction 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
Download Metatrader 4 Trading Platform:
- Free $30 To Start Trading Instantly
- No Deposit Required
- Automatically Credited To Your Account
- No Hidden Terms
Click The Link Below To Download: