Supremo FX Forex Indicator is based on pivot, support/resistance and trend trading. With this indicator, the trader does not have to deal with market analysis. All that is needed is to follow the simple buy or sell signals generated by the indicator.
Supremo FX is mainly designed for support and resistance trading systems. This means that this indicator takes advantage of price swings between resistance and support levels.
The indicator’s settings have all support and resistance levels listed; from R1 to L4. The supports and resistance are set to be true while the Ls are set to be false meaning note to use. The foremost support and resistance levels are: S1-2-3 and R1-2-3 respectively.
The indicator also has the option of following major trends by using two trend filters. The trader is left with the option of using one or both filters to get the signals according to the current main trend.
When using this indicator for the first time on any chart, you may not see any signal appearing. As an alternative to waiting for a signals to be generated on the current time frame, you can simply toggle between the time frames until you get a signal on one of them.
Fig.1. The Supremo FX indicator showing its not time to trade.
For example, if you started using the system on H1 time frame and there are no signals shown on the chart, switch to another time frame starting from 5M to the highest timeframe allowed on your platform until you get a signal. If still there are no signal generated just use the indicator on another currency pair.
Supremo FX Placing orders.
There are two types of this indicator which are the basic type and the pro version. The pro version is an upgrade of the basic version and it is the best and most advisable to use. Both provide their signals on the top left corner of the chart.
When using the basic indicator, you will see the signals in this form:
Fig.2. Form of signal given when using the basic type of the Supremo FX.
As evident from the above snapshot the indicator only gives one line of signal that tells you whether to buy or sell while giving the stop loss and target points. This move is the one that goes with the major trend of the market.
However, when using the Turbo version of the indicator, you will have the option to see double signals that would look like this:
Fig.3. Form of the signal given when using the trbo version of the Supremo FX indicator.
The difference between the two types of the indicator is that with the turbo version you can trade both sides of the trend at the same time while with the basic version you can only trade one side of the move.
Sometimes, as the trader can get signals based on support and resistance points although this don’t happen too often.
With the Turbo version, you have the option to trade all kinds of price movement. That of course means more profit opportunity.
Forex Indicators Download – Instructions
Supremo FX Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Supremo FX 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 Supremo FX Forex Indicator.mq4?
- Download Supremo FX Forex Indicator.mq4
- Copy Supremo FX 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 Supremo FX Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Supremo FX Forex Indicator.mq4 is available on your Chart
How to remove Supremo FX 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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