Tangoline indicator is a forex trading indicator. Tangoline indicator is a very simple forex trading indicator. Tangoline indicator is a highly profitable forex trading indicator. Tangoline indicator generates buy and sell signals at the very right time and price. The most beautiful part of this forex trading indicator is that it works beautifully in all time frames. Where it is a one minute chart of it is a weekly chart. However, since Tangoline indicator is a trend following forex trading indicator, it works in a trending market only. The Tangoline indicator should be completely avoided in a non-trending market conditions.
When you install Tangoline indicator, your chart should look like this:
- Tangoline indicator
Tangoline indicator consists of three bands. The upper band works as a resistance and the lower band works as a support. The middle band tells you about the market direction. When the market is above the middle band it indicates that the market is up trending. And when the market is below the middle band it indicates that the market is down trending.
Buying Conditions Using Tangoline Indicator.
- Market should be up trending.
- Market should be rising from the recent support.
- Market should cross above the middle band of the Tangoline
- 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 market falls below middle band.
Selling Conditions Using Tangoline Indicator.
- Market should be down trending.
- Market should be falling from the recent resistance.
- Market should cross below the middle band of the Tangoline
- 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 market rises above the middle band.
Download Free Forex Tangoline Indicator
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