Reversal Trade Master MT4
- Oliver Vella
- Version: 3.0
- Aktualisiert: 9 Dezember 2022
- Aktivierungen: 5
This MT4 indicator has been designed to be used on any currency pair and any time frame. It has the scalper and swing trader in mind.
The indicator looks for short-term high-probability reversals in price and will indicate to you to go long (buy) or short (sell) if you see a green or red arrow next to the current candlestick respectively.
The indicator provides the best trading opportunities to you during the active trading hours of London and New York, but it will continue to give signals all day long and throughout the night but these signals are not considered to be taken seriously.
The indicator paints an arrow when the specific criteria are met, however, you must wait until the current candlestick has closed until you enter a trade.
The indicator only provides the signal to buy or to sell. It is your decision how much money you risk on each trade and it is also your responsibility to trade sensibly. The indicator does not provide any stop loss or take profit suggestions to you however I have found that the best stop loss placement is under the previous candle stick's low for a buy trade and above the previous candlestick's high for a sell trade. As for taking profits, my suggestion is that you use a trailing stop or use your own preferential indicators as support and resistance zones to exit the market.
Please take a look at the photos where you can see the blue and red signals to buy and sell respectively. All of the photos were taken on the daily time frame and the 5 minute time frame of popular currency pairs and indices to show you the versatility of the indicator.
I hope that you can be more profitable when using this indicator.
Please let me know if you have any questions.