Coral 260 Metatrader 4 Forex Signal Indicator
The Coral 260 Metatrader 4 Signal indicator is a moving average curve that adds a smoothing ratio in its computation.
The Coral 260 indicator gets overlaid as a silver line on the main chart window.
A rising silver Coral 260 indicator curve typifies an uptrend, while a falling indicator curve signifies a downtrend.
Traders can initiate buy/sell market orders when price opens and traders above/below the silver Coral 260 MT4 indicator.
- Adjusting the value of the indicator’s default period upwards or downwards, allows users to adequately capture long- or short-term market trend respectively.
- Traders can also maneuver the indicator into delivering reliable support/resistance levels at the instance when its “Period” gets printed with higher values.
- Meanwhile, the Coral indicator forms the basis for other technical studies such as the Moving Average Convergence Divergence (MACD).
- When used in combination with other moving averages of varying periods, it does yield a crossover system.
Feel free to explore the Coral 260 Forex Signals indicator’s different parameters and settings to create your own personalized indicator setup.
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Coral 260 Forex Signal Indicator Chart (EUR/AUD M30 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 Coral 260 MT4 Signal Indicator
Buy Signal: Go long when price bar opens and closes above the silver Coral 260 MT4 indicator.
When the MACD indicator prints silver histograms above the 0.00 horizontal level, it is a buy signal confirmation.
Sell Signal: Go short when price bar opens and closes below the silver Coral 260 MT4 indicator.
When the MACD indicator prints silver histograms below the 0.00 horizontal level, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is running, price bar opens and closes below the silver Coral 260 MT4 indicator. Else, exit the buy trade when the MACD indicator prints a silver histogram below the 0.00 level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, price bar opens and closes above the silver Coral 260 MT4 indicator. Else, exit the sell trade when the MACD indicator prints a silver histogram above the 0.00 level.
Tips: The silver Coral 260 MT4 Signal indicator offers currency traders an improved way to gauge momentum and confirm trends, while also defining possible levels of support and resistance.
The Coral 260 indicator will perform better as a tool for confirmation instead of a predictive tool.
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More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: 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.