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Saturday, July 4, 2020

[FOREX TIP] Absolute Strength Indicator MT4 | Free Download

The Absolute Strength Indicator MT4 is a custom-built technical indicator that works somewhat similarly to the ADX indicator.

In other words, the Absolute Strength Indicator signals the absolute strength in the instrument’s trend.

When the price trends are strong, one of the lines diverges sharply, signaling that the trend is strong.

This is the main objective of the Absolute Strength Indicator… to signal and show the strength of the trend.

Absolute Strength Indicator: When to go long?

Absolute Strength Indicator: When to go long?

When to go long using the Absolute Strength Indicator?

The first step is in waiting for the green line to cut across the red line.

When the green line is rising, it indicates a strong uptrend.

You can consider taking a long position when you see this signal.

When to exit your long positions?

Exit the long position using the Absolute Strength Indicator as and when you see the lines intersecting again.

Alternately, you can also make use of a fixed risk to reward ratio to book your profits.

Absolute Strength Indicator: When to short?

Absolute Strength Indicator: When to short?

When to go short using the Absolute Strength Indicator?

Wait for the red line to rise above the green line. This indicates that the downtrend is strong.

Take a short position in the market when you see the bearish trend rising sharply.

When to exit your short positions?

Exit the short position using the Absolute Strength Indicator as and when you see the red and green lines intersecting again, in the opposite direction.

You can also set your take profit level based on the fixed risk to reward ratio.

Where to set the stop loss?

The stop loss should be set either at the nearest low or the high prior to taking the long or short position.

Once the trade moves in your favor, you can move the stop loss to break even.

Conclusion

The Absolute Strength Indicator, as the name suggests indicates the trend strength.

This indicator can be used in a trending strategy.

However, the indicator works almost similar to the ADX indicator and doesn’t offer any new edge.

How to Increase Your Winning Ratio with the Absolute Strength Indicator MT4?

When you add the TTM Scalper Indicator and use it together with a proven trend trading system like the Elite Swing Trader or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.

Recommended Time Frames

Technically speaking, you can use this MT4 indicator for all time frames.

However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.

We recommend that you use higher time frames like the H4 or even higher for better consistency.

Click Here for Your Free Download of Absolute Strength Indicator.ex4 file

How to Install Custom Indicators on MT4 on Windows

How to Install Custom Indicators on MT4 on Mac OS


FREE Metatrader 4 Download | Free MT4 Download

Visit our Free MT4 Indicator Download page.

We hope you have enjoyed this post as much as we have created this strategy post for you.

Good luck and thank you for your readership.

The post Absolute Strength Indicator MT4 | Free Download appeared first on Advanced Forex Strategies.



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[FOREX TIP] TTM Scalper Indicator MT4 | Free Download

The TTM Scalper Indicator MT4 is a very simple indicator that shows you the pivot high and low points in the price.

The TTM scalper plots a blue or a red line when the price has made a pivot high or a pivot low.

There are a number of ways you can interpret the signals from the TTM Scalper Indicator.

TTM Scalper Indicator: When should you go long?

TTM Scalper Indicator: When should you go long?

When to go long using the TTM Scalper Indicator?

Wait for the TTM scalper to plot a red line near the low end of the trend.

Following this, you can then set a pending long order a the high of the bar that the TTM indicator has plotted.

Make sure that the previous trend is down.

When to exit your long positions?

Exit the long position using the TTM Scalper Indicator as and when your trade hits a 1:3 fixed risk reward ratio set up.

Alternately, you can simply trail your stops until you get stopped out.

When to go short using the TTM Scalper Indicator?

Wait for price to be moving higher, making higher highs.

When you see the TTM scalper plotting a blue line, you can set a pending short order near the low end of the price bar.

When to exit your short positions?

Exit the long position using the TTM Scalper Indicator as and when your trade hits a 1:3 fixed risk-reward ratio set up.

Alternately, you can simply trail your stops until you get stopped out.

Where to set the stop loss

The initial stop loss for both long and short positions are to be set near the low end of the bar that signaled the entry.

Conclusion

The TTM Scalper Indicator as shown is a very simple technical indicator.

You can use this to trade standalone or you can combine the TTM scalper with other trading strategies.

How to Increase Your Winning Ratio with the TTM Scalper Indicator MT4?

When you add the TTM Scalper Indicator and use it together with a proven trend trading system like the Elite Swing Trader or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.

Recommended Time Frames

Technically speaking, you can use this MT4 indicator for all time frames.

However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.

We recommend that you use higher time frames like the H4 or even higher for better consistency.

Click Here for Your Free Download of TTM Scalper Indicator.ex4 file

How to Install Custom Indicators on MT4 on Windows

How to Install Custom Indicators on MT4 on Mac OS


FREE Metatrader 4 Download | Free MT4 Download

Visit our Free MT4 Indicator Download page.

We hope you have enjoyed this post as much as we have created this strategy post for you.

Good luck and thank you for your readership.

The post TTM Scalper Indicator MT4 | Free Download appeared first on Advanced Forex Strategies.



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