Forex Reversal Indicator
The indicator is in the TOP 10 which show trend reversals and is suitable for intraday trading.
CATEGORIES: MT4, SIGNAL, INFORMATIONAL
Updated on: 09.12.2023
Of the countless trend reversal indicators all around the MT4 community, some of them are nothing to write home about, while some others are decent. The Forex Reversal Indicator falls in the category of the decent.
Its indicator is one of the most reliable reversal indicators. It appears on your charts in the form of yellow dots coated in red and blue rings. The yellow dot in red rings appears at market tops to signify a reversal to downtrends. Blue rings around yellow dots suggest a reversal to the uptrend.
How to use Forex Reversal Indicator in your trading
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The first impulse of many forex traders might be to avoid this trend reversal indicator because it tends to repaint signals. However, there are ways to use the indicator without having much trouble when it repaints.
Combining our indicator with other trend trading indicators
Let’s use the FXSSI Trix Crossover indicator as our other trend trading indicator, for instance. Open it alongside the trend reversal indicator on your MT4. All you then need to do is to trade in the direction of the trend. If our reversal indicator says the market has reversed to an uptrend, use the Trix Crossover to make all uptrend trades as long as the trend remains. And when the indicator changes its bias to a downtrend, use the Trix Crossover to scout for downtrend entries alone.
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