Cynthia’s Signal Entry Stop Metatrader 4 Forex Indicator
The Cynthia’s Signal Entry Stop Metatrader 4 indicator is a technical study that draws dynamic buy/sell stop levels on the activity chart.
The indicator is able to achieve this by using an ATR indicator in defining the distance between the outer boundaries.
Therefore, the resulting boundaries or dotted lines that we see on the Cynthia’s Signal Entry Stop indicator can be used as dynamic support and resistance levels, along with setting protective stop levels.
Often, the dynamic support and resistance levels are used as buy and sell trade entry signals.
- Basically, the indicator offers a better visualization of support and resistance levels, which is arguably one of the important things to know when trading the financial markets.
- Generally speaking, the indicator is able to evaluate price action and by so doing respond quickly to critical support and resistance levels, using its colored line segment.
- The default setting found on the Cynthia’s Signal Entry Stop indicator can be modified or fine-tuned. However, the developers have done a good job of having a default setting that is very stable.
Feel free to explore the Cynthia’s Signal Entry Stop Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Cynthia’s Signal Entry Stop Forex Indicator Chart (EUR/CAD 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 BP Channel MT4 Indicator
Buy Signal: Go long when the aqua dotted line of the Cynthia’s Signal Entry Stop Metatrader 4 indicator gets printed slightly below the candlesticks.
When the silver histograms of the MACD MT4 indicator gets printed above the zero-horizontal level, it is a buy signal confirmation.
Sell Signal: Go short when the magenta dotted line of the Cynthia’s Signal Entry Stop indicator gets printed fairly above the price bars.
When the silver histograms of the MACD MT4 indicator gets printed below the zero-horizontal level, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Cynthia’s Signal Entry Stop indicator pops up a magenta dot. Else, the silver histogram of the MACD indicator readjust to go below the zero-horizontal level.
Exit sell trade: Close all sell orders if while a bearish trend is on course, the Cynthia’s Signal Entry Stop indicator pops up an aqua dot. Else, the silver histogram of the MACD indicator realign to take up position above the zero-horizontal level.
Tips: The Cynthia’s Signal Entry Stop offers a simple trading method that can keep pace with the dynamic nature of the forex market.
The indicator can be implemented on scalping and day trading as well.
Users can also incorporate the indicator as a trade filter.
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Channel Period, risk, signal, line, sound alert mode, sms alert mode, alert times, n bars.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Support/Resistance
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.