The 7stealth indicators is a combination of three powerful indicators which apparently use the almost the same working principle. The three indicators include: 7Stealth BuySell V2.ex4, 7Stealth Earlybird V1.ex4 and 7Stealth LCD V2.ex4.
The 7Stealth BuySell V2.ex4 is displayed on a separate chart below the main trading chart. It is responsible for the formation of green and red horizontal line sections depending on the trend of the market prices at the time. The red horizontal line shows a downward trend while the green horizontal line shows that the trend is upwards. Its signal is the onset or beginning of the formation of either lines. If a red line was being drawn then all of a sudden a gap appears and a green line appears then there is an upward trend signal. Sometimes the gap may be followed by the same color of the line that was forming before so you should wait and see what line forms after the gap.
The 7Stealth Earlybird V1.ex4 forms blue and yellow arrows to show the time to buy and sell respectively. This indicator displays its information on the main trading chart. It also gives an alert whenever a signal is given.
The 7Stealth LCD V2.ex4 just like the 7Stealth BuySell V2.ex4 is displayed on a separate chart below the main chart. It displays a horizontal line with sections whose color can either be yellow or blue. This indicator is mainly designed to show the trader when to trade and when not to trade. When the line is yellow, then the trader should avoid trading since the market is flat (no major movements of the prices). When the line is blue the trader is free to trade.
Fig.1. The 7stealth Indicators explained.
Placing orders using the 7Stealth indicators.
First before placing any order, you have to ensure that the 7Stealth LCD V2 is indicating a blue line. You should greatly avoid trading when it is indicating a yellow line.
- Placing a buy order: the trader should place a buy order when the 7Stealth BuySell V2 is indicating a green line and the 7Stealth Earlybird V1 gives or displays a blue arrow.
- Placing a sell order: the trader should place a sell order when the 7Stealth BuySell V2 is indicating a red line and the 7Stealth Earlybird V1 gives or displays a yellow arrow.
After placing your orders, you can either use stop losses or take profits to close your orders or you can opt to close the orders once an opposite signal is given. When talking about an opposite signal we are talking about an opposite arrow given by the 7Stealth Earlybird V1.
When using stops to close your order, you should use a 1:2 ratio. That is to mean that your stop loss should be placed half the number of pips of the take profit.
Example of opened trades:
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