The Bulls Eye Forecaster MT4 forex indicator is a profitable high frequency technical indicator that is designed to adjust to changing market trends with good accuracy.
The indicator can also serve as a price filter, thereby giving it the capability to be more profitable.
Traders can benefit from the numerous features embedded within the Bulls Eye Forecaster indicator.
One of which is its sensitivity to changing market trends.
While adherence to the indicator’s signals, will certainly lead to consistent profits.
- In order to get a concise picture of how things are panning out in the market, pay more attention to the manner in which the price bars are aligned against the Bulls Eye Forecaster indicator line.
- Generally speaking, the indicator pops up as a dotted red line that overlays on the price chart, with an orientation that is either somewhat above or below the candlesticks.
- By default, when the red dotted line of the Bulls Eye Forecaster indicator aligns above the price bars, the market is said to enjoy bearish sentiments, while the market is said to relish bullish sentiments when the indicator’s red dotted line positions below the candlesticks.
Feel free to explore the Bulls Eye Forecaster Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Bulls Eye Forecaster Forex Indicator Chart (GBP/CHF H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Bulls Eye Forecaster MT4 Indicator
Buy Signal: Go long when the price bar opens & closes above the red dotted line of the Bulls Eye Forecaster MT4 indicator, which in turn aligns below the candlesticks.
Confirm the buy signal when the light sea green line of the CCI indicator breaks and runs above the zero-horizontal level.
Sell Signal: Go short when the price bar opens & closes below the red dotted line of the Bulls Eye Forecaster indicator, which in turn aligns above the candlesticks.
Confirm the sell signal when the light sea green line of the CCI indicator breaks and runs below the zero-horizontal level
Exit buy trade: Close all buy orders if while a bullish trend is running, price bar opens and closes below the red dotted Bulls Eye Forecaster indicator line, else, the light sea green line of the CCI indicator dips below the 0.00 level.
Exit sell trade: Close all sell orders if while a bearish trend is running, price bar opens and closes above the red dotted Bulls Eye Forecaster indicator line, else, the light sea green line of the CCI indicator surges above the 0.00 level.
Tips: The Bulls Eye Forecaster indicator performs remarkably well as a standalone technical tool, however, when used in combination with other standard indicators, results become even better.
And in line with this, it was paired up with the commodity Channel Index indicator to further shoot up results.
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Colors, style, width.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.