The Retracement Finder Forex Indicator is a very powerful trading indictor. It is a well tested indicator. It performed very well and generated accuracy of over 80%. To any forex speculator 80% of accuracy is great. If the risk to reward ratio is 1:2 one will still be profitable even when the accuracy is 50%. It can be used to trade any currency pairs on any time frame. Discipline is important more than anything else if one wants to succeed as a trader.
When you install Retracement Finder Forex Indicator in your trading platform, your chart should look like this:
Retracement Finder consists of histograms which move in positive and negative territory. When the histogram is in positive territory, market is up trending and when the histogram is in negative territory, the market is down trending. However, you should not simply trade on this concept. You should know the concept of the market trend. You should be buying when the histogram is in positive territory and the market is up trending. Similarly, when the histogram is in negative territory and the market is down trending, you should be selling.
Buying Conditions Using Retracement Finder.
– Market should be up trending.
– Market should be rising from recent support.
– The Retracement Filter indicator should be positive.
– 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 Retracement filter indicator falls into the negative territory.
Selling Conditions Using Retracement Finder.
– Market should be down trending.
– Market should be falling from recent resistance.
– The Retracement Filter indicator should be negative.
– 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 Retracement filter indicator rises to the positive territory.
Forex Indicators Download – Instructions
Retracement Finder Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Retracement Finder 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 Retracement Finder Forex Indicator.mq4?
- Download Retracement Finder Forex Indicator.mq4
- Copy Retracement Finder 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 Retracement Finder Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Retracement Finder Forex Indicator.mq4 is available on your Chart
How to remove Retracement Finder 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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