Nik Psar indicator is a forex trading indicator. Nik Psar Indicator is a forex trading indicator. Nik Psar Indicator is a proven forex trading indicator and it has generated consistent results when we tested in the real accounts. The Nik Psar Indicator can be used on any time frames and it can be used to trade on any currency pairs. It is a trend following forex trading indicator. Nik Psar Indicator should be used in trending market only and you should take only the trades in the major direction of the trend. Suppose, in an up trending market, sometimes, this indicator generates selling signals too but you should ignore the sell signal because the trend of the market is up.
When you install Nik Psar indicator in your trading platform, your chart should look like this:
- Nik Psar Indicator
Nik Psar indicator consists of two oscillators. One of the Nik Psar Indicator oscillators consists of dotted white oscillators. Another oscillator consists of dotted yellow ladder. Ultimately, this indicator shows us the direction of the market. When the Nik Psar Indicator is above the market, it indicates selling. And when the Nik Psar Indicator is below the market, it indicates buying signal.
Buying Conditions Using Nik Psar Indicator.
- Market should be up trending.
- Market should be above the dotted white oscillator.
- Market should be above the yellow dotted lines.
- 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 a yellow dotted line appears above the market.
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Selling Conditions Using Nik Psar Indicator.
- Market should be down trending.
- Market should be below the dotted white oscillator.
- Market should be below the yellow dotted lines.
- 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 a yellow dotted line appears below the market.
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