Description: MegaFX Profit Indicator can be used for trading in any currency pair and any timeframe. This indicator is intended for trade intraday, but at higher timeframes (H4 and above) it can be used around the clock. MegaFXProfit intuitive indicator, therefore it can work even a novice trader.
Characteristics of MegaFX Profit Indicator
Currency pairs: All pairs
Trading Time: Any
Time-frame: M5 and above
It is an all currency pairs indicator, that is suited for any currency pair of your choice. It is also an indicator, that is designed for use on all time-frames.
For you to use this indicator to trade, you don’t require to be too much experienced in trading. This indicator is actually designed to help the traders make profit when trading. Therefor it is a tool of aid for the traders. If correctly used, it can lead to a profit:
Recommended Take Profit depending on the selected Time-frame ( M5 - 15 pips, M15 - 30 pips, M30 - 35 pips, H1 - 40 pips, H4 - 60 pips etc.)
Stop Loss - 15-20 pips.
The indicator forms a wave line, that changes its color between red and green. There is a straight yellow line, which when the wave line crosses it changes its color. The yellow line is at a zero level. Once the MegaFX Profit wave line crosses this yellow straight line to the bottom, its color changes to red. Then, when it crosses upwards, the line becomes green.
The indicator gives a trading signal every time the wave line crosses the yellow straight line. The signals are displayed in form of arrows. The arrow can either be red or green and it is given after one to two candles form in the same directions of the trend after the wave line crosses the yellow straight line. Therefore, you should not place a trade immediately the wave line crosses the yellow straight line. You should be patient and wait for the indicator to confirm the trend with an arrow signal.
How to use MegaFX Profit indicator for Trading:
When changing color arrow appears, everything just color green for Buy, red for Sell.
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The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore, it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, expert advisors (EAs), scripts and/or indicators will result in profits or not result in losses.