MBFX Timing is an effective market analysis tool. The basis of his algorithm are Bollinger bands. The indicator builds a channel on the chart that will help the trader identify points favorable for opening trading positions. The MBFX Timing files must be downloaded and placed in the appropriate trading platform folder MT4. When you set the indicator on a schedule, you can optimize its settings. To do this, you need to understand what each of the parameters is intended for. First of all, you should specify how many candles the indicator should use in its calculations. This can be done using the variable NumBars. Regression-Degree – This option allows you to specify the value of the regression of the displayed lines. We leave the parameters Dev1, Dev2 and Dev3 as is. They do not require any changes. Active-Signal, Active-Alert, and Send-mail-Possible – these variables do not affect the performance of the indicator. With them, you can set up how the trader can be alerted to a signal to enter the market. To begin with, I recommend do not touch the parameters of the indicator and test its operation with those values of variables that are set by default.
How to apply MBFX Timing in trading
Let’s see how the indicator looks on the currency pair price chart:
It draws a channel in the form of multi-colored lines. The signals are very easy to read. The price touch of green lines is an opportunity to open sales deals for purchase. If the price of the currency pair concerns red lines, then this is a signal for sale. However, do not rush to open warrants. Any signal must be confirmed. That is, you need to make sure that the price after touching these lines really turned. In addition, I recommend using additional technical analysis tools for trading decisions. These may be other indicators or candle patterns and graphic shapes. Lines MBFX Timing can also be used to set the stop loss and teak profile. In order to reduce risks in trade, it is necessary open trade warrants in accordance with the prevailing trend in the market. In other words, the direction of the channel must be taken into account. If it is directed down, then we only open deals sell. If the channel is directed up, only buy deals. Different uses of this indicator can be tested on a demo account. Download the archive with the indicator files here: MBFX Inga Fedorova 07.11.2021 Recording Forex indicator MBFX Timing first appeared forex-for-you.ru.