Closing Price Reversal is a forex trading indicator. It is a very simple forex trading indicator. You don’t need to know anything about forex trading if you solely use this indicator because it is so simple to use.The Closing Price Reversal indicator is more effective when it is combined with other indicators.The signals generated by the indicator itself are not enough to make precise trading decisions. Other indicators like moving average, MACD, etc. can be combined with this indicator. One should have the concept of thetrend to trade in a better way with this indicator. Ultimately it comes to discipline; no any indicators can make money for an undisciplined trader.
When Closing Price Reversal is installedon your trading platform, your chart should look like this:
- Closing Price Reversal Indicator
Closing price reversal indicator is nothing more than dots. There are two different types of dots; red and green. The green dots indicate buy signal and the red dots indicate selling signal. You will increase your rate of winning if you buy only in an up trending market and sell only in the down trending market.
Buying Conditions Using Closing Price Reversal Indicator.
- Market should be up trending.
- Market should be bouncing from recent swing low.
- A green dot 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 red dot appears above the market.
Selling Conditions Using Closing price Reversal.
- Market should be down trending.
- Market should be falling from recent swing high.
- A red dot 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 red green appears below the market.
Download Free Forex Closing Price Reversal Indicator
Our community traders work with XM.com brokerage company. If you are thinking to open demo or real forex trading account we recommend XM. They currently offer up to 5000$ bonus on your deposit find details below: