The Absolute Strength time frame Metatrader 4 forex indicator is an enhanced profit-raking oscillator that gauges overbought and oversold market conditions.
The indicator performs optimally for all trade types i.e. swing, scalping and intraday trading.
The indicator’s setup and deployment is hassle-free, while its trading results stands impeccable for even newbies:
- A steel-blue line is aligned above the indicators’ silver line within its window depicts the start of an uptrend.
- A silver line is aligned above the indicators’ steel-blue line within its window depicts the start of a downtrend.
Tip: Trading the Parabolic SAR MT4 indicator together with the Absolute Strength Time frame Indicator creates a very powerful trading system.
In this case:
- A buy trend takes place when the lime dots of the Parabolic SAR indicator align below the candlesticks, while the steel-blue line of the Absolute Strength Timeframe indicator stays above its silver line.
- A sell trend takes place when the lime dots of the Parabolic SAR indicator align above the candlesticks, while the silver line of the Absolute Strength Timeframe indicator stays above its steel-blue line.
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Profit-Raking Absolute Strength Time Frame Forex Indicator Chart
Below is an example of how the indicator should appear when added onto the Metatrader 4 chart.
Traders are free to adapt this indicator on a cross section of currency pairs and timeframes of their preference.
Finding Buy and Sell Triggers With Profit-Raking Absolute Strength Time Frame Forex Indicator
Below is an example of how to buy and sell forex pairs with this technical indicator:
Buy Trigger: Open buy trade order when the steel-blue line of the Absolute Strength time frame MT4 indicator crosses above the silver line from below.
Place stop loss below most recent support level, or use your own stop loss placement method.
Close the buy trade at the instance the steel-blue line intersects the silver line within the indicator window.
Alternatively, exit the buy trade for a fixed take profit target, for example, 45 pips on the 30-minute day trading chart.
Sell Trigger: Open sell trade order when the silver line of the Absolute Strength time frame MT4 indicator crosses above the steel-blue line from below.
Place stop loss above most recent resistance level, or use your own stop loss placement method.
Close the sell trade at the instance the silver line intersects the steel-blue line within the indicator window.
Alternatively, exit the sell trade for a fixed take profit target, for example, 12 pips on the 1-minute scalper chart.
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Time frame, mode, length, smooth, signal, price, mode MA, overbought, oversold.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, DeMarker, AO…)
- Trend indicators (Parabolic SAR, Envelopes, Bollinger Bands,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: oscillators
Copy and paste the indicator in the MT4 indicators data folder (click on ‘File > Open Data Folder’).
Right click within the MT4 terminal Navigator window to refresh or restart the terminal and add the indicator to any chart.