Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
This indicator is not an ordinary moving avarage, even if it behaves similarly. I really like to use this to identify pullbacks.
I only use this strategy once a day for one instrument, not more often.
It is best if the price is further away from the line in the morning and when the pullback occurs, then you can create an entry setup using this indicator.
Use additional indicators or use this as a supplement to your existing strategy.
This is not a holy grail. A pullback can quickly become a trend, remember to always use a stoploss.
In the settings you can set the color of the line and change the structure slightly, although I am very happy with 1200.
I prefer to use this indicator on M15 and M30 timeframes
