Drive is a technical indicator which is used in metatrader platforms to trade forex and other financial markets. The Drive indicator is a very simple forex trading indicator which can be used by beginner trader to make consistently in the forex market but for that one should have the knowledge of the trend of the market. Because one should enter in the direction of the major trend only the counter trend trading is always risky. It will be best when you combine this indicator with other technical tools like trend line, Fibonacci, etc. The Drive indicator works fine in all time frames and it’s up to you how you use this indicator.
When you install Drive indicator in your trading platform, your chart should look like this:
Drive is a technical indicator which consists of two oscillators. When the red oscillator is above the green oscillator, it indicates the down trend market and when the green oscillator is above the red oscillator, it indicates bullish market. Therefore, you should be buying only when the green oscillator is above the red oscillator and you should be selling only when the red oscillator is above the green oscillator.
Buying Conditions using Drive indicator.
- The market should be up trending.
- The green oscillator of the Drive indicator should be above the red oscillator.
- 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 green oscillator of the Drive indicator crosses below the red oscillator.
Selling Conditions Using Drive Indicator.
- The market should be down trending.
- The red oscillator of the Drive indicator should cross above the green oscillator.
- 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 red oscillator of the Drive indicator crosses below the green oscillator.
Download Free Forex Drive Indicator
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