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On the last tip we saw How to Add an Indicator to a Graph on Metatrader 4. Today, we will focus on the use of the Forex Indicator Stochastic-Oscillator on MT4.
The Technical Analysis Indicator for Forex Market, STOCHASTIC, belongs to the OSCILLATORS classification and allows us to identify purchase and sales chances when we face market channel behavior.
On this graph, we see 4 possible incomes (tagged in yellow). In the EURUSD pair, entry points are given when the Stochastic Indicator crosses from above the 75 level or below the 25 level.
When the Forex Stochastic indicator is between the levels of 75 to 1, we say that the pair is an Over Bought and we will look for short positions.
When the Forex Stochastic is below the levels of 0 to 25, we say that the pair is in an Over Sold and we will look for long positions.
It’s always important to confirm the given signal by the Forex Stochastic Indicator with other indicators like, for instance, with a 5-period MA (in red).
In the last tip, we saw How to Use the Forex Indicator Stochastic-Oscillator on MT4. Today we will focus on how to use the Forex Fractal Indicator, part of MT4 Indicators.
The Technical Analysis Forex Indicator, FRACTAL, allows us to identify changing points in the Forex market direction.
The rules to identify Fractals are:
How to add the Fractal Indicator on MT4?
Fractals are important to trace trend lines in the Forex market. When we join two fractals we can identify key Supports and Resistance in the market.
On the last tip, we saw Forex Fractal Indicator on Metatrader 4. Today, we will be focusing on the use of the Forex Indicator Tendency Lines on MT4
The Technical Forex Indicator, TRENDLINE, allows us to define lines of Support and Resistance in the Forex market.
How to Add the Forex Indicator Trendline on MT4?
Joining the points that have formed the Forex Indicator Fractal, we can attain valuable and relevant trendlines.
The trendline, as its name says, allows us to identify the direction of a trend, as the possibility to define roofs and floors that, in case they break, they can alert us to take long or short positions.
RISK WARNING: Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose more than the initial capital invested. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. Seek independent advice if necessary.