Forbi Predictor Forex Indicator working process is somehow similar to the MACD. This indictor is a very simple and effective indicator.
The indicator is displayed on a different chart normally below the main trading chart once it is loaded onto the MT4 platform. It has a curve that moves in conjunction with the forex market. It also has some bars that form. Both the curve and the bars are either on the upper or lower side of a zero line. In actual fact, the indicator forms a histogram.
Fig.1. Showing the Forbi Predictor indicator.
If you look at the above chart you can notice that the Forbi Predictor indicator moves in the exact way that the market prices moves. The only different is that the indicator has a zero line where it oscillates about. Forbi Predictor indicator moves up away from the zero line when indicating there is a rise in the market prices. The indicator also moves down below the zero line when indicating that there is a drop in the market prices.
Then when the market prices consolidates at a certain level for a long time without varying by too much pips, the histogram of the Forbi Predictor indicator moves closer to the zero line waiting to either move up or down away from the zero line again.
By looking at the gradient of the curve of the indicator’s histogram, you can easily tell whether the indicator and consequently the market prices are to rise or fall. When the gradient is steep, then there is a likelihood of the market to continue in the direction it’s on at that particular moment.
Fig.2. Interpreting the market price movements using the Forbi Predictor indicator.
When the gradient is positive and very steep, then the market prices are on the rise. Otherwise, if the gradient is steep but negative, then the market prices are on the decline. When the curve of the histogram is somehow ‘even’ (not steep), you are to look forward to dormant forex market prices. Therefore, buy looking at the Forbi Predictor indicator, a trader is able to determine what the market prices are preparing to do. With this knowledge, the trader is bound to make profits while trading.
How to open positions using the Forbi Predictor indicator.
Placing a buy: for you to place a buy order, first of all the indicator’s histogram has to be above the zero line. However, you have to watch until the gradient of the histogram is steep and positive. After placing a buy order, place a stop loss at around 10 pips and a take profit at around 15 pips depending on how far the histogram has moved away from the zero line. If it is far away from the zero line, then be careful and target small profit. Otherwise if it’s just near the zero line then you may target 15 pips.
Fig.3. Placing a buy using the Forbi Predictor indicator.
Placing a sell: for you to place a sell order, first of all the indicator’s histogram has to be below the zero line. However, you have to watch until the gradient of the histogram is steep and negative. After placing a sell order, place a stop loss at around 10 pips and a take profit at around 15 pips depending on how far the histogram has moved away from the zero line. If it is far away from the zero line, then be careful and target small profit. Otherwise if it’s just near the zero line then you may target 15 pips.
Fig.4. Placing a sell using Forbi Predictor indicator.
Forex Indicators Download – Instructions
Forbi Predictor Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Forbi Predictor 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 Forbi Predictor Forex Indicator.mq4?
- Download Forbi Predictor Forex Indicator.mq4
- Copy Forbi Predictor 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 Forbi Predictor Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Forbi Predictor Forex Indicator.mq4 is available on your Chart
How to remove Forbi Predictor 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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