Q Momentum Forex Indicator is a momentum based trading indicator. It is suitable for professional traders as well as retail traders. It can be used to trade in all time frames. It works best in trending market. Q Momentum indicator works fine in all currency pairs. The indicator alone is not enough to make trading decisions. You should combine with other technical indicators to get very effective trading results. With few weeks of practice one can work comfortably with this indicator. When you trade with this tool you should follow the rules of the indicator very strictly.
When you install Q Momentum indicator in your trading platform, your chart should look like this:
Q Momentum indicator consists of histogram. Histograms fluctuate in positive and negative territory. When the histogram of Q indicator is in positive territory, it indicates the bullish market sentiment and you should be buying in this scenario. When the histogram of Q indicator is in negative territory, you should be selling because it indicates bearish market sentiment.
Buying Conditions Using Q indicator.
– Market should be up trending.
– The Q Momentum indicator histogram should rise to positive territory from negative territory.
– 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 Q indicator histogram dives into the negative territory.
Selling Conditions Using Q indicator.
– Market should be down trending.
– The Q Momentum indicator histogram should fall to negative territory from positive territory.
– 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 Q indicator histogram rises into the positive territory.
Forex Indicators Download – Instructions
Q Momentum Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Q Momentum 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 Q Momentum Forex Indicator.mq4?
- Download Q Momentum Forex Indicator.mq4
- Copy Q Momentum 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 Q Momentum Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Q Momentum Forex Indicator.mq4 is available on your Chart
How to remove Q Momentum 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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