I Sadukey V1 Forex Indicator is a trend indicator. This indicator is relatively simple to use and recommended for beginners. It is based on the volume and counted bars.
It is best for any kind of forex trader; scalper, long term trader or intraday trader. The rate of placing and closing your trades will depend on the timeframe that you chose. If you use a tight timeframe, you shall be opening and closing your orders at a faster rate than if you decide to use a longer timeframe.
Understanding the working of the I_sadukey_v1 indicator.
The I_sadukey_v1 indicator is displayed on the main trading chart. It is displayed as a line that follows the market prices and changes its color depending on the trend that is determined to be prevailing at the time. The line is formed of small boxes whose length varies depending on the strength of the trend. If the trend strength is high, the length of the boxes will increase and decrease when the strength of the trend decreases. Each box forming the line is formed corresponding to every candlestick that is formed.
The boxes that form the line are either blue or red depending on the trend. Contrary to the other indicators where the red shows a down trend and the blue an uptrend, this indicator uses red to indicate an uptrend and the red to indicate a down trend.
Fig.1. The i_sadukey_v1 indicator.
The red boxed section of the line is displayed below the candlesticks while the blue boxed section is formed above the candlesticks. But rather than most indicators that give their signal when the market prices crosses the indicator line, this indicator takes some time before giving the signal which helps in alienating the false signals.
When you drag the indicator or insert the indicator onto the trading chart, the custom indicator i_sadukey_v1 pop up window will appear. If you press the input button, you shall see two inputs which are the countBars and nd. The countbars is set to 1000 by default, indicating the number of already formed bar/candlesticks the indicator will count on the chart once loaded/inserted. If you decrease the countbars value, the indicator will be displayed on a lesser number of already formed candlesticks on the chart when first inserted and the opposite occurs when the value is increased. The nd on the other hand is used to define the number of boxes that will be formed in the line. The least value that you can use for the nd value is 2; where blue or red long bars will be displayed at one point rather than being spread over a long section of the line. If a value of 1 is used on the nd value, nothing will be displayed.
Using the i_sadukey_v1 indicator to place and close orders.
Buy orders are placed when the line section turns to Red while sell orders are placed when the line section turns to blue. Orders are places in the third or second candlestick to be formed after the color change. No trade should be done/placed after the forth candlestick; the trader should wait for the next signal or look for a signal from other currency pairs or in other timeframes.
Fig.2. Using the i_sadukey_v1 indicator to trade.
Trades are closed when the indicator gives an opposite signal. The sell positions are closed when the color changes to red and the buy orders are closed when the color changes to blue.
Forex Indicators Download – Instructions
I Sadukey V1 Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
I Sadukey V1 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 I Sadukey V1 Forex Indicator.mq4?
- Download I Sadukey V1 Forex Indicator.mq4
- Copy I Sadukey V1 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 I Sadukey V1 Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator I Sadukey V1 Forex Indicator.mq4 is available on your Chart
How to remove I Sadukey V1 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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Click The Link Below To Download:
I Sadukey V1