Solomon indicator is a forex trading indicator. Solomon is a very simple forex trading indicator. Basically this indicator is helpful when you build a forex trading system. While building a forex trading indicator you might use various technical indicators and when you need arrows on the chart you can simply use this indicator. The Solomon indicator should be used for short term trading. This indicator is helpful to catch the very short term swings of the market. You don’t expect to buy and hold for more than a week when you trade this indicator.
When you install Solomon indicator in your trading platform, your chart should look like this:
Arrows is all Solomon indicator about. Solomon indicator is nothing more a combinations of blue and grey arrows. You can see arrows whether pointing upward or pointing downward. The arrow pointing upward is grey and the arrow pointing downward is blue. You should buy when a grey arrow appears on the chart and vice versa. The chance of winning dramatically goes higher when you trade in the direction of the trend.
Suppose, the market is up trending on the timeframe you are looking at. Then consider taking only long positions so that you will not be trading against the trend. Following the trend is the key to profits.
Buying Conditions Using Solomon Indicator.
- Market should be up trending.
- A grey arrow pointing upward 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 a blue arrow pointing downward appears above the market.
Selling Conditions Using Solomon indicator.
- Market should be down trending.
- A blue arrow pointing downward 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 a grey arrow pointing upward appears below the market.
Download Free Forex Solomon Indicator
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