The Ewaves Forex Indicator is useful in making precise forex trading decisions. It is a very simple forex trading indicator and anyone can use it. This tool works in a trending market as well as ranging market. It can be used to trade in any currency pairs. It can be incorporated with other indicators to get consistent results. It can be combined with other best indicators like moving averages, parabolic SAR, Bollinger bands, etc. It is a highly profitable trading indicator. The risk to reward ratio is maintained very well by this indicator.
When you install Ewaves indicator in your trading platform, your chart should look like this:
Ewaves consists of histogram which moves in positive and negative territory. The rule is very simple. In an up trending market, you should place your long position when you see green histogram (positive histogram) and in a down trending market you should sell when the histogram are red (negative).
Buying Conditions Using Ewaves Indicator.
– Market should be up trending.
– Histogram should be green (positive).
– Place your long position when above conditions are met.
– Place your stop loss just below the recent swing low.
– Take your profit when histogram turns red.
Selling Conditions Using Ewaves Indicator.
– Market should be down trending.
– Histogram should be red (red).
– Place your short position when above conditions are met.
– Place your stop loss just above the recent swing high.
– Take your profit when histogram turns green.
Forex Indicators Download – Instructions
Ewaves Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Ewaves 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 Ewaves Forex Indicator.mq4?
- Download Ewaves Forex Indicator.mq4
- Copy Ewaves 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 Ewaves Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Ewaves Forex Indicator.mq4 is available on your Chart
How to remove Ewaves 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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