FX Pulse 3.0 indicator
The FX Pulse 3.0 indicator is used to determine the trend and also help a trader in predetermining the direction in which the forex news will move the market. It is usually a very important toll in forex trading.
While trading, the core thing especially in long term trading where a trader opens an order and plans to leave it for a long period of time targeting much greater profits, it to get o the right side of the current market trend. You will only make profit when you open an order, in the right trend direction. If it is a sell order then you have to target a downward trend and if it is a buy order then it has to be on an upward trend.
Fig.1. the price chart FX pulse 3.0
The FX pulse 3.0 shows the price chart of the current binary pair window. This price chart displays the trend direction on the various timeframes of M5 to D1. It also indicates the news that are expected from the forex economic calendars. This indicator only confirms current economic news therefore they can only be used by the scalpers or the short term traders.
By displaying the news the as a trader you will be a step ahead and you will be well informed on whether to trade or not. Also it will help decide whether to use risk management tactics in case you had some running trades in the market at the moment. If you have a trade and the indicator has shown that there is going to be news, then it is wise to put stop losses, trailing stops or take profits to the already opened position. This will reduce the risk of your capital being wiped all out during the news.
Trading during news releases is very risky and should only be done with a lot of caution. If you make a mistake of entering with big lots and the market moves against you, then you will be in for a big shock. The market prices move with very many pips during news and the currency pairs get very huge spreads that may require drastic movement in the market for you to make profit. That is why it is advisable that if you are a news trader then you should have an indicator like this one to help you decide the type of trade to open by predicting the direction the market will move.
The FX Pulse 3.0 is designed for use on MT4 platforms using any currency pairs at any time. It is also not very complicated to use
FX Pulse 3.0 settings
It has some settings that a trader need to make sure they are set right. These include the:
- The GMT_ Offset. This is used to set the offset time from the GMT time depending on your location. Example if your Local time is GMT- 5 then the GMT_ Offset should be “-5”.
- The Sound_ Notification. This is used to enable sound in case of News. This is the one that is used to alert the trader in case of News.
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