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The ForexTrigger indicator is designed to automatically identify the trading setups described at the strategy guide. It automatically identifies strong trends and ranges, tells you which trading setup to trade which not to – and writes down the stop loss, take profit and Risk:Reward ratio for each trade.
The indicator also identifies trends and ranges, and will write whether the pair is trending up, down or in a range (flat trend with no momentum).
The indicator automatically alerts you when a signal is occurring to so you can analyze manually and take the trade.
Settings of the Indicator
There are several settings you can change in the indicator. You can reach the settings screen by clicking on the 'Inputs' tab when loading the indicator onto the chart:
LabelsColor – handles the color of the labels that appear on the screen. Change to any color that you are comfortable with.
eunic-brussels.eu – Size of the font in the labels.
eunic-brussels.eu – Set to 'True' If you wish to receive sound notifications, or 'False' otherwise.
eunic-brussels.eu – Set to 'True' if you wish to receive email notifications when a signal occurs. Read the next chapter to set the email settings properly
In the picture below Forex trigger indicator in action.
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Forex Trigger indicator
Forex Trigger indicator: Strategy Guide.
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BTW Any information communicated by Stonehill Forex Limited is solely for educational purposes. The information contained within the courses and on the website neither constitutes investment advice nor a general recommendation on investments. It is not intended to be and should not be interpreted as investment advice or a general recommendation on investment. Any person who places trades, orders or makes other types of trades and investments etc. is responsible for their own investment decisions and does so at their own risk. It is recommended that any person taking investment decisions consults with an independent financial advisor. Stonehill Forex Limited training courses and blogs are for educational purposes only, not a financial advisory service, and does not give financial advice or make general recommendations on investment.
"Macdio trigger forex indicator for mt4" is a technical indicator that is used in trading on the foreign exchange market to determine when to enter and exit a position. This indicator is based on the signals received from the MACD indicator, which is one of the most popular indicators in technical analysis.
The "Macdio trigger forex indicator for mt4" indicator can also be used to identify support and resistance levels, as well as identify overbought and oversold markets. If the indicator is in the overbought zone (when the oscillator line is above zero), this may indicate a possible downward reversal, and if the indicator is in the oversold zone (when the oscillator line is below zero), this may indicate a possible upward reversal.
The "Macdio trigger forex indicator for mt4" indicator can be used in various trading strategies, including day trading, intraday trading and long term trading strategies.
"Macdio trigger forex indicator for mt4" indicator settings:
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Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The purpose of Forex Trigger indicator strategy for MT4 is to automatically identify the trade setups and present them to the traders in the visual form on the charts. The Forex Trigger indicator is designed to spot the ranging patterns and strong trends of the market. The indicator also helps in finding the situation when to trade and when to avoid it. This indicator is a complete trading system because it suggests the stop loss and take profit levels along with the risk to reward ratio for each trade.
The Forex Trigger indicator is a useful tool that identifies and reveals whether the current market is trending up, trending down or in a tight range (flat market with no volatility or momentum). The beauty is that the indicator sends you an alert when there is potentially a signal to occur. This indicator presents buying and selling opportunities in the form of visual indications to buy or sell on the chart, complete with stop loss and take profit settings.
The other indicators also allow the trader to detect buy and sell signals manually. These can be used to confirm the Forex Trigger signals, or can be used on their own.
There are plenty of custom settings that you can change in the Forex Trigger indicator. Simply click on the ‘input’ tab while loading the indicator from the navigation bar. You can alter the following settings:
Since, the Forex Trigger indicator allows this system to work as a semi-automated forex trading strategy, the setup is really simple and straightforward to use. Simply install the indicator in your trading platform using the standard method. Drag and drop the indicator from the custom indicator folder of your MT4 and customize the settings as indicated above. Change the font size and color if required. Turn the sound alert to ‘True’, so you can get notified when the system finds a trading signal.
You may also use the manual version of this system, which uses the manual indicators outlined above. Those indicators use a colour change of the trend indicator, as well as overbought/oversold or divergence signals on the momentum indicators to produce trading signals.
You can apply the Forex Trigger indicator system on any currency pair. Choose the timeframe 1-hour or higher. Let’s take a look at trade entry and exit in this system:
Semi-automated: You can enter a long trade if following conditions are met:
This is what you get with the semi-automated version of this software. All entry points, stop loss and take profit targets are pinpointed to the trader, as well as the risk-reward ratio.
Manual: You can enter a long trade if following conditions are met:
This is what the manual setup looks like on the charts.
Forex_Trigger_Indicator_2: Long trade setup
The snapshot here shows the long trade setup that utilizes the divergence pattern, as well as an indicator being oversold and the trend indicator changing colour to produce a trading signal.
On the chart, there were two areas where the parameters for a long trade setup were not percent fulfilled. This is not because at the time the signals developed, there would have been no way for the trader to know if the price would actually go up or not. So because this area did not show a hundred percent fulfillment of our trade parameters, they did not qualify for a long trade setup and so they are to be ignored.
You can use the stop loss prescribed by the system (semi-automated) or you may setup a stop loss a few pips below the entry point (manual version).
You can set the take profit level at the same spot provided by the indicator on your chart window (semi-automated), or you can decide to use a previous area of resistance, or an area of previous support that has undergone role reversal as your exit point. You can also use a trailing stop of 20 pips to further secure the profits already obtained in an active trade.
You can enter a short trade if following conditions are met:
If using the manual version, these are the entry parameters:
Forex_Trigger_Indicator_3: Sell trade setup
Once more, we see two areas on the chart where the indicators did not line up % to produce a short trade setup. However, there was one setup where the forex strategy was doable. Here, we see the momentum indicators in the overbought areas, with the trend indicator changing colour from blue to red.
You can use the stop loss prescribed by the semi-automated form of the indicator as it appears on your chart window. Users of the manual system can set the stop loss at a few pips above the price bars/candles.
You can set the take profit level as given by the indicator on your chart window on the automated system, or you can use a previous support or role-reversed resistance (i.e. a resistance area which has been broken to the upside, and will now serve as support to falling prices).
The Forex Trigger indicator system is a semi-automatic system based on trend and counter-trend trading. There is also a manual version of the strategy. Whichever one you choose, it is recommended to trade only when the price is trending as this is more profitable and has high probability of success. You should also ensure that the risk-reward ratios are at least if you can help it, but never less than 1.
Download the complete system description and the files here:
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