MT4’s 3 Bars High-Low indicator plots bull, bear and flat trends on a chart. Fractal charts also confirm buy or sell trades. If there is a change in trend, the indicator will notify you by displaying a buy or sell alert. The indicator does not redraw after the candle closes. It provides stable signals and can be used in Forex automated trading strategies. For immediate reference, the indicator displays the current trend direction in the upper right corner of the chart.
This indicator is ideal for new and experienced Forex traders alike. The indicator helps new traders to determine whether the market trend is bullish or bearish and then trade accordingly. Advanced forex traders may use complex trading strategies or automated trading strategies. The indicator is also available as a free download and is easy to install.
The 3 lows indicator for MT4 trading signals
The indicator shows the neutral trend in yellow and shows the uptrend line (LIME) and downtrend line (ORANGERED). chartreuse also has fractal charts. This indicator uses a combination of the CCI indicator and ATR to plot trend lines. It also uses fractals to represent bars in the indicator setup. The indicator also provides buy or sell alerts for trend changes in bull and bear markets.
Once the indicator becomes LIME, forex traders can place a buy order. This indicates a bullish trend in the market. The stop loss should be placed below the previous low. If the indicator turns yellow, then the take profit will turn red. This indicates a flat market trend. Good results can also be achieved if the exit is at the opposite color change from red, which indicates a new trend.
A Forex trader can also enter a bearish market and sell once the indicator turns red. The best result is to set a stop loss at the high of the swing and a target at any signal opposite.
Forex traders can use the indicator’s ability to show three trend levels, bullish (BEARISH) and flat (FLAT) trends to plan their entry and exit points. The fractal chart adds an additional dimension to trade confirmation.
This indicator can be used to trade multiple time frames (mtf). By comparing trends in higher time frames, traders can zoom in and enter optimal positions on lower time frame charts. When traders enter the market in the higher time frame, the trend direction tends to be the same.
Summary
The High-Low indicator (non-replotted) is a trend indicator that shows buy and sell forex trading signals. It is ideal for Forex traders who are just starting out and can be used in combination with other technical indicators.
