The Zone Trade Forex Indicator is a forex trading indicator which lets you ride the intraday swings of the market. You can expect to ride up to 15 to 100 pips using this tool. It depends on which timeframe you use for trading. You are not recommended to trade higher time frames than H1. The best part of this indicator is that it lets you catch the sentiment of the traders. You can know whether the market sentiment is bullish or bearish using this indicator.
When you install Zone Trade Indicator in your forex trading platform, your chart should look like this:
Zone trade indicator consists of different types of bars than the normal candlestick bars. The bars are formed on the basis of average market sentiment. When the market is bullish, it keeps on forming green bars and when the market is bearish it keeps on forming red bars. When you follow the colors of the bars for your trading signals you should be following the major trend of the market as well. For example, you should be buying in an uptrend market only and you should be selling in a downtrend market only.
* Moving Average
15-period moving average is used in this moving average. It is a simple moving average. This moving average helps you to confirm the signals generated by the zone trade indicator. The rules are same as to how moving averages work in its most basic forms.
Buying Conditions Using Zone Trade Indicator.
– Market should be up trending.
– Market should be going upward from the recent swing low.
– The Zone Trade indicator should be green.
– The market should be above the moving average.
– 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 market breaks below the moving average.
Selling Conditions Using Zone Trade Indicator.
– Market should be down trending.
– Market should be going downward from the recent swing high.
– The Zone trade indicator should be red.
– The market should be below the moving average.
– 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 market breaks above the moving average.
Forex Indicators Download – Instructions
Zone Trade Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Zone Trade 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 Zone Trade Forex Indicator.mq4?
- Download Zone Trade Forex Indicator.mq4
- Copy Zone Trade 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 Zone Trade Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Zone Trade Forex Indicator.mq4 is available on your Chart
How to remove Zone Trade 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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