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Which Idicator is good for Take Profit level

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Oluwadare Paul Oguntosin
633
Oluwadare Paul Oguntosin  
If i want to use combination of indicators to build an EA. Which Indicator(s) do you think is very good to use for take profit level.
Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Trade Constants / Order Properties - Documentation on MQL5
phi nuts
2184
phi nuts  
forexgoshen:
If i want to use combination of indicators to build an EA. Which Indicator(s) do you think is very good to use for take profit level.

1. Levels of Bolinger band. 

2. Maybe you don't need a TP, just close that position when opening new opposite position.

Just an idea. 

Andriy Moraru
1261
Andriy Moraru  
ATR can be used to calculate viable TP target based on the current volatility.
Lee
354
Lee  

AFR is my favourite because you can set so the Period is fixed say 14 Default/ But you cna change the multiplier e.g. 1 x ATR or 2 x ATR etc. and it is also based on the current volatility of the pair you are trading.

Sergey Golubev
Moderator
94701
Sergey Golubev  

  1. MA Channel
  2. Fibo
  3. Ichimoku
  4. support and resistance
  5. EMA as trailing stop
  6. BrainTrading or Brainwashing, or any ATR related 

Liping Wang
3662
Liping Wang  
I like BB for this purpose.
Moses Olawale  Ajayi
2398
Moses Olawale Ajayi  

I don't hav problem to spot the entrance of market but the exist point is always the problem. I have used many indicator mentioned here but they are not really good for spoting TP level. My advice it to use TP and SL and not to be so greedy so that you won't lost all your investment.

Thanks

Oluwadare Paul Oguntosin
633
Oluwadare Paul Oguntosin  
gbemitte:

I don't hav problem to spot the entrance of market but the exist point is always the problem. I have used many indicator mentioned here but they are not really good for spoting TP level. My advice it to use TP and SL and not to be so greedy so that you won't lost all your investment.

Thanks

I agree with you.

If an indicator is used for take profit level or to close trade when with opposite signal, at times, you might started to lost the trade before the indicator gives opposite signal.

Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
Documentation on MQL5: Standard Constants, Enumerations and Structures / Trade Constants / Order Properties
  • www.mql5.com
Standard Constants, Enumerations and Structures / Trade Constants / Order Properties - Documentation on MQL5
hongden nguyen
948
hongden nguyen  
I'm using Trendline autochanel and Fibo, Pivot point, support and resistance for tp and sl!
KIEU DUNG BUI THI
224
KIEU DUNG BUI THI  
I use Fibo and Pivot
Moses Olawale  Ajayi
2398
Moses Olawale Ajayi  
I used fibo and rsi with ATR trailing the most
12
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