Sane Fx Binary indicator MT4 provides forex trading signals based on arrows. Trading signals work best when the time frame is short or intra-day price charts. This MetaTrader indicator enables scalpers and intraday forex traders to get the most out of it.
The indicator can be used by novice and experienced Forex traders. It produces only up and down arrows. The MetaTrader indicator generates a stable signal and does not redraw. As we have already mentioned, the indicator also works well in intraday price charts. The indicator can be used on daily, weekly and monthly price charts. However, its results may not be as good as those for shorter time frames.
Sane Fx Binary Signal Indicator for MT4 Trading Signals
The candlestick above shows the Sane Fx Binary indicator in action on MT4. The indicator shows a bullish arrow trading signal in green and a bearish signal in red.
If the indicator plots a green arrow on the chart, it indicates a bullish market. A Forex trader can buy a position and set a stop loss below the swing low. A trading signal can be used to exit a position. Forex traders should not expect to make a profit. Therefore, this indicator does not provide a profit target.
The red arrow on the chart is a sign of a bearish price trend. Therefore, forex traders should place sell trades above the swing high and set a stop loss.
This indicator is most effective when used during European and US trading sessions. The indicator can provide many trading signals per day. Traders should use additional trend indicators to filter trade signals and trade in the direction of the trend.
Trading in the direction of the longer time frame price chart helps traders to stay in one direction and avoid overtrading. Overtrading can lead to trading losses, so technical forex traders should limit their trading. Do not let the number of signals deceive you. You should not try to trade every signal of this indicator.
Sane Fx Binary Indicator MT works well for both forex and binary options trading. Binary options traders should limit their expiration to 2 candles. Forex scalpers, on the other hand, can trade the next two candles with trading signals.