EntryExit Trend forex indicator displays the buy and sell entry signals on the mt4 chart and the ATR Value. The information shown by the forex indicator can be used as a reference by forex traders to open and close positions. There are a lot of forex indicators that require analysis and sound technical background to work with. But this forex indicator is so simple that a trader who knows what short opening entries and long positions mean can open trade with this indicator.
Working of EntryExit Trend Forex Indicator
When you apply the MT4 Free Download Indicator to the charts, the indicator will show a buy entry and sell signal. The indicator will also show the ATR value line and the entry signals. There will be a sell entry signal at the swing high, and the forex indicator will show a buy signal at the chart swing low. Also, when you change the settings to show long-period signals, the indicator will give a little bit fewer signals, but the signals will be more accurate and work well.
Settings of EntryExit Trend Indicator
In the indicator’s settings, you can change the ATR line to be visible or invisible; also, you can change the value of the ATR period to change the signal’s frequency.
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Trading Strategy For EntryExit Indicator
The trading strategy for this indicator is straightforward.
- It would be best if you took the long position when the indicator gives a buy signal on the charts. A blue upward arrow will represent the buy signal.
- The stop loss level will be the last swing low.
- Take profit level will be when the indicator gives a sell signal.
- It would help if you took the short position when the indicator gives a sell signal on the charts. A red downward arrow will represent the sell signal.
- The stop loss level will be the last swing high.
- Take profit level will be when the indicator gives a buy signal.
This indicator is one of the simplest indicators that you will find. Also, following the trading strategy for the Entry-Exit Indicator is very simple. I suggest you use the indicator combined with a key levels indicator.