Drive Forex Indicator is a technical indicator which can be used by beginner trader to make consistently in the forex market but for that one should have the knowledge of the trend of the market. Because one should enter in the direction of the major trend only the counter trend trading is always risky. It will be best when you combine this indicator with other technical tools like trend line, Fibonacci, etc. This indicator works fine in all time frames and it’s up to you how you use this indicator.
When you install Drive indicator in your trading platform, your chart should look like this:
Drive is a technical indicator which consists of two oscillators. When the red oscillator is above the green oscillator, it indicates the down trend market and when the green oscillator is above the red oscillator, it indicates bullish market. Therefore, you should be buying only when the green oscillator is above the red oscillator and you should be selling only when the red oscillator is above the green oscillator.
Buying Conditions using Drive indicator.
– The market should be up trending.
– The green oscillator of the Drive indicator should be above the red oscillator.
– 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 the green oscillator of the Drive indicator crosses below the red oscillator.
Selling Conditions Using Drive Indicator.
– The market should be down trending.
– The red oscillator of the Drive indicator should cross above the green oscillator.
– 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 the red oscillator of the Drive indicator crosses below the green oscillator.
Forex Indicators Download – Instructions
Drive Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Drive 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 Drive Forex Indicator.mq4?
- Download Drive Forex Indicator.mq4
- Copy Drive 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 Drive Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Drive Forex Indicator.mq4 is available on your Chart
How to remove Drive 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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