Chandelier indicator is a forex trading indicator. Chandelier indicator is a very simple trend following forex trading indicator. The Chandelier indicator can be a very profitable forex trading indicator for those who are willing to stick to its rules and trade accordingly. The rules of this forex trading indicator are too simple and it can be applied by any novice trader. The expert and experienced traders also prefer this indicator as this indicator aware you the potential entry and exit signals faster. To be profitable this trading indicator you only need to follow the trend of the market and buy/sell as per the rules of the indicator.
When you install Chandelier indicator in your forex trading platform, your chart should look like this:
- Chandelier indicator
Chandelier indicator is a very simple indicator which looks like moving average. When this indicator is orange the market is up trending and when this indicator is purple, the market is down trending. When this indicator is below the market, you should be buying and when the indicator is above the market, you should be selling.
Buying Conditions using Chandelier Indicator.
- The market should be up trending.
- The Chandelier indicator should appear below the market.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the Chandelier indicator appears above the market.
Selling Conditions Using Chandelier indicator.
- The market should be down trending.
- The Chandelier indicator should appear above the market.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the Chandelier indicator appears below the market.
Download Free Forex Chandelier Indicator
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