Q indicator is a forex trading indicator. Q indicator is a momentum based indicator. Q indicator is used by professional traders as well as retail traders. The Q indicator can be used to trade in all time frames. It works best in trending market. Q indicator works fine in all currency pairs. The Q indicator alone is not enough to make trading decisions. You should combine other technical indicators to get very effective trading results. Q indicator is a simple yet very powerful one. With few weeks of practice one can work comfortably with this indicator. When you trade with this indicator you should follow the rules of the indicator very strictly.
When you install Q indicator in your trading platform, your chart should look like this:
- Q indicator
Q indicator consists of histogram. Histograms fluctuate in positive and negative territory. When the histogram of Q indicator is in positive territory, it indicates the bullish market sentiment and you should be buying in this scenario. When the histogram of Q indicator is in negative territory, you should be selling because it indicates bearish market sentiment.
Buying Conditions Using Q indicator.
- Market should be up trending.
- The Q indicator histogram should rise to positive territory from negative territory.
- 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 Q indicator histogram dives into the negative territory.
Selling Conditions Using Q indicator.
- Market should be down trending.
- The Q indicator histogram should fall to negative territory from positive territory.
- 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 Q indicator histogram rises into the positive territory.
Download Free Forex Q Momentum Indicator
Our community traders work with XM.com brokerage company. If you are thinking to open demo or real forex trading account we recommend XM. They currently offer up to 5000$ bonus on your deposit find details below: