Technical analysis tool that will be discussed today will allow you to open a trade order at the very beginning of the trend and thus improve your trading results. The indicator Forex Oracle belongs to the reversal category. With the help of the line color and arrow it signals a change in the direction of price movement. One of the advantages of this analysis tool is the fact that it is not redrawn. Recommended timeframes are from M5 to H4. Currency pairs are your choice. By the way, the authors of this indicator recommend using it in the trading system designed to accelerate the deposit. It is installed in MT4 according to the standard scheme: “File” – “Open data directory” – “MQL4” – “Indicators”. Do not forget to reboot the trading terminal or use the “Update” button in the “Navigator” – “Indicators” window. The parameter in the settings one is the period. Since Forex Oracle is used on small TFs, the value of this parameter should be quite large. The default is 250.
Trade opening signals
BUY order is opened when the blue arrow appears. This is how it may look on the price chart:
The market saw a downward trend. Then after the flat price tried to continue moving down, but the “bears” were not strong enough. The Forex Oracle indicator gives a buy signal when there are no clear signs of a trend reversal. Entering on such a signal would allow to get a very good profit.A here is an example of opening a SELL:tradeIn this case, we wait for the formation of a red arrow.
Trade orders can be closed when a signal appears that indicates a forthcoming change in the direction of price movement. That is, if a BUY order is opened, the profit is fixed when the red arrow appears. If the SELL order is open, the blue arrow.I want to draw your attention to one feature of the indicator, which was announced by the developer.
The Forex Oracle Indicator is the most effective in trading on a non-standard timeframe – M154. It’s confirmed by his test results. Earlier in one of my articles I told you how to install a non-standard TF in MT4.
In spite of the positive feedback on the work of this technical analysis tool, I strongly recommend you not to use it in real money trading at once. Check the efficiency of the signals on the demo account. And only after receiving the appropriate statistics, you can include the indicator in your trading strategy.Download indicator Forex Oracle:forex-oracleFyodorov’s Inga24.10.2018