Profit Indicator is a forex trading system which consists of several other indicators which helps you to make correct forex trading decision. The Profit indicator system can be used to trade in various ways by various traders. In fact Profit indicator system is more suitable to make quick trades. It can be a good tool to scalp for you because Profit indicator generates buy and sell signals too frequently. Regardless of the numbers of signals you receive you should take trades only in the direction of the trend.
When you trade with this forex trading system you should be very quick to take decision as the signals are generated too frequently. You should also have the patience to wait for the right signal. When you install your trading system in your trading platform, your chart should look like this:
You can see green and red arrows in the main chart window. The green arrows indicate the buying signal while the red arrows indicate the selling. Remember to follow the trend of the market.
Renkomaker consists of a mid line and the oscillator moves above and below this mid line. When the oscillator is above the mid line, you should understand that the market is bullish and when the oscillator is below the mid line, you should understand that the market is down.
- Profit indicator
You should buy when the Profit indicator is up trending and you should sell when the Profit indicator down trending.
Buying Conditions Using Profit Indicator.
- Market should be up trending.
- A green arrow should appear below the market.
- The Renkomaker oscillator should be above the mid line.
- The Profit indicator oscillator should be above the mid line.
- 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 red arrow appears above the market.
Selling Conditions Using Profit Indicator.
- Market should be down trending.
- A red arrow should appear above the market.
- The Renkomaker oscillator should be below the mid line.
- The Profit indicator oscillator should be below the mid line.
- 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 green arrow appears below the market.
Download Free Forex Profit Filter Indicator
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