This indicator was done and submitted by Kishore M. it is responsible for displaying a line whose color changes from blue to orange. This indicator is a result of a complex programming that does not involve any of the common indicators used in financial markets as of today, such as the MACD, RSI or moving averages. The Auto Forecast Expert Indicator rather adapts itself to current market conditions using complicated algorithms based on price action and out custom indicators. The indicator will gives you trading signals Buy or Sell. The in indicator also displays for you where to place your stop loss via a pop up alert window and also on the chart. The stop loss levels are indicated by drawing a colored line on the main trading chart.
However, even if the indicator is made of a complex program algorithm, it is very easy when it comes to using it. You actually just wait for the Indicator to give you the signals and your work will be pressing the buy or sell when you get a signal.
The indicator is made for use time frames that are higher than the 5 minute timeframe. You should never use this indicator with the 5 minute timeframe since it is very risky. The indicator is also designed in such a way that it is suited to trade all the currency pairs.
The indicator is responsible for displaying a signal alert pop up window. This window prints different kinds of information which includes: Trend direction: TREND UP or TREND DOWN, Entry price, Pair, Buy or Sell signal, Stop loss level and Timeframe (on which chart signal received).
Fig.1. The signal alert pop up window.
Fig.2. Showing how the Auto Forecast Expert Indicator looks like when loaded on the trading chart.
When trading using this indicator, there are some important information that you should know. One of this is identifying a long term trend. If you are used to trading using the 1 hour time frame, load the 2 hour timeframe and look at the trend. This is usually important since the indicator will only show you the trend of the current timeframe throughout the day and will not show that of the other time frames. When you get this trend, then as a trader, you should ignore all the signals that will be given centrally to your higher time frame trend (global signal).
Then the trader should no trade when the market prices trend is sideways. During this time the market is stagnant and not decided on the trend to and once you open a position, you may end up making a loss if the market chooses to move in an opposite direction.
Placing trades (opening positions) using the Auto Forecast Expert Indicator.
The signals of this indicator are the color changes. The blue color shows an uptrend while the orange color shows a down ward trend. Therefore the signal is when the color of the line changes. For example if the line was orange and all of a sudden it changes to blue, then there is a buy signal and vice versa.
BUYING: the trader should place a buy when the color of the line changes from orange to blue.
SELLING: the trader should place a sell order when the color of the line changes from blue to orange.
Example of opening trades using this indicator.
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