Today I will tell you about the Price Position indicator to help you make the right trading decisions. It is very easy to use, and therefore it will suit even those traders who are only getting acquainted with trading. This technical analysis tool draws a line on the chart of the trading currency pair. But for a trader, not so much is it important, but an information window in which a recommendation for opening a trade transaction will be presented. The indicator file must be downloaded and then installed in the appropriate Trading platform catalog folder. In general, we do as always when you set the indicator in the MT4. You will see a link to download the file at the end of this article. There will be no problems with the Price Position indicator settings because they concern only its visual appearance. The Corner-Position parameter is designed so that the trader can select the location of the information window. Buy Color and Sell Color – these options allow you to select colors to display signals for purchase and sale. You can also specify a color to display a situation where there is no trend in the market. There is a No Trend Color parameter for this. You can activate Turn-on-Alert in order not to skip the signal. In this case, the trader will hear a sound alert about the favorable situation for entering the market. If this is not necessary, the beep can be turned off.
Trading on the signals of the Price Position indicator
To begin with, I will say that this tool has no restrictions on currency pairs and timeframes. Trader can choose any trading instrument and TF. The indicator should be set on the chart of the currency pair that it decided to use for earnings.
After that, you need to gain patience and wait. As soon as the BUY signal appears in the information window – we buy. Well, and accordingly, when the SELL signal appears, we sell. Signals on the price chart can be used not only to enter the market, but also to close active trade orders. That is, if we have a purchase deal open, then we close it when a signal appears for sale and vice versa. The Price Position indicator is very simple. But this does not mean that it can be immediately applied in real trade. Testing the indicator on the demo account is a prerequisite. I generally recommend that Price Position be included in the trading strategy. This will increase its effectiveness. Trading solely on the signals of this indicator is undesirable. Download indicator: Price Position Inga Fedorova 28.08.2021 Record Indicator Price Position first appeared forex-for-you.ru.