Kain2 Forex Indicator is a custom built technical indicator which is a type of Bollinger bands. Profitable systems can be developed from this indicator. The methods of trading might vary though. Trading with Kain2 indicator is very easy but you need to master the system. The developer of the Kain2 indicator has named the system as a channel. The Kain2 indicator has three moving averages. The moving average which is on the top is red, the one in the middle is light blue and the one at the bottom is dark blue.
These three different moving averages give different meaning to the traders. The moving average on the top acts as a resistance while the moving average on the bottom acts as a support. Kain2 system can be used to trade in both trending and sideways market but the same method doesn’t work for the both types of market conditions although the indicator used is same. Here, we will focus on trading with Kain2 indicator in trending market. And it is also highly recommended that you trade in the direction of the trend too.
When the Kain2 indicator is correctly loaded on your trading platform your chart look like this:
Buying Conditions Using Kain2 indicator.
– The market should be up trending, at least on the time frame you are viewing.
– Wait for end of the correction and let the price rise and touch the top band of the channel.
– As soon as the price touches the top band of the channel, place a long order.
– Place your stop just below the recent swing low.
– Take your profit when the price deviates from the top band of the channel.
Selling Conditions Using Kain2 indicator.
– The market should be down trending, at least on the time frame you are viewing.
– Wait for end of the correction and let the price fall and touch the lowest band of the channel.
– As soon as the price touches the lowest band of the channel, place a short order.
– Place your stop just above the recent swing high.
– Take your profit when the price deviates from the lowest band of the channel.
Forex Indicators Download – Instructions
Kain2 Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Kain2 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 Kain2 Forex Indicator.mq4?
- Download Kain2 Forex Indicator.mq4
- Copy Kain2 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 Kain2 Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Kain2 Forex Indicator.mq4 is available on your Chart
How to remove Kain2 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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