Zone trade indicator is a forex trading indicator. Zone Trade indicator is a very simple forex trading indicator which lets you to ride the intraday swings of the forex market. You can expect to ride up to 15 pips to 100 pips using this forex trading indicator. It depends on which timeframe you use for trading. You are not recommended to trade higher time frames than H1 using this forex trading indicator. The best part of this forex trading indicator is it lets you to catch the sentiment of the traders. You can know whether the market sentiment is bullish or bearish using this forex trading indicator.
When you install Zone Trade Indicator in your forex trading platform, your chart should look like this:
- Zone Trade Indicator
Zone trade indicator consists of different types of bars than the normal candlestick bars. The bars are formed on the basis of average market sentiment. When the market is bullish, it keeps on forming green bars and when the market is bearish it keeps on forming red bars. When you follow the colors of the bars for your trading signals you should be following the major trend of the market as well. For example, you should be buying in an uptrend market only and you should be selling in a downtrend market only.
- Moving Average
15-period moving average is used in this moving average. It is a simple moving average. This moving average helps you to confirm the signals generated by the zone trade indicator. The rules are same as to how moving averages work in its most basic forms.
Buying Conditions Using Zone Trade Indicator.
- Market should be up trending.
- Market should be going upward from the recent swing low.
- The Zone trade indicator should be green.
- The market should be above the moving average.
- 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 market breaks below the moving average.
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Selling Conditions Using Zone Trade Indicator.
- Market should be down trending.
- Market should be going downward from the recent swing high.
- The Zone trade indicator should be red.
- The market should be below the moving average.
- 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 market breaks above the moving average.
Download Free Forex Zone Trade Indicator
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