Fx Prime is a forex trading indicator. It is a very simple forex trading indicator and it does not require any extra ordinary skills of the forex trading and the metatrader platform. The Fx Prime indicator can be used in any time frame and it can be used to trade with any currency pairs. It is best when you combine Fx prime indicator with other indicators as the Fx prime alone might not give accurate signals to buy and sell. However, to a certain degree, Fx prime indicator works great to figure out the direction of the market.
When you trade with Fx prime you need to be extra discipline. You cannot make money by trading with this system if you do not have that level of discipline. When Fx Prime indicator is correctly installed in your trading platform, your chart should look like this:
- Fx prime
Fx prime consists of green and red lines in the indicator window. The green lines indicate buying while the red lines indicate selling. You can know when the trend is starting and when the trend is ending with the help of grey dots that you see in the thick line. Suppose, when you see a grey dot and then green line, you should understand that the upward swing is starting and when the grey dot forms again you should understand that the upward swing is ending. The case is same with the downswing potentialities.
Buying Conditions Using Fx Prime Indicator.
- The general trend of the market should be up.
- A grey dot should appear in the Fx prime
- Green line should form in Fx Prime
- 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 green line turns red.
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Selling Conditions Using Fx Prime indicator.
- The general trend of the market should be down.
- A grey dot should appear in the Fx prime
- Red line should form in Fx Prime
- 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 red line turns green.
Download Free Fx Prime Indicator
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