Ewaves indicator is a forex trading indicator which is useful in making precise forex trading decisions. It is a very simple forex trading indicator and anyone can use it to trade forex. The Ewaves indicator works in a trending market as well as ranging market. Ewaves indicator can be used to trade in any currency pairs. Ewaves indicator can be incorporated with other indicators to get consistent results. The Ewaves indicator can be combined with other best indicators like moving averages, parabolic SAR, Bollinger bands, etc. Ewaves indicator is a highly profitable forex trading indicator. The risk to reward ratio is maintained very well by this indicator.
When you install Ewaves indicator in your trading platform, your chart should look like this:
Ewaves consists of histogram which moves in positive and negative territory. The rule is very simple. In an up trending market, you should place your long position when you see green histogram (positive histogram) and in a down trending market you should sell when the histogram are red (negative).
Buying Conditions Using Ewaves Indicator.
- Market should be up trending.
- Histogram should be green (positive).
- Place your long position when above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when histogram turns red.
Selling Conditions Using Ewaves Indicator.
- Market should be down trending.
- Histogram should be red (red).
- Place your short position when above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when histogram turns green.
Download Free Forex Ewaves Indicator
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