Forex new Line Indicator
Forex new Line Indicator
The Forex line indicator is an improvised version of the moving average. The indicator is embedded in the main trading price chart. It features a line that changes color from blue to white and vice versa depending on the market direction.
The indicator is easy to use. You don’t have to interpret hard figures and complex lines. Simply identify the color of the dictator line and trade accordingly. This means the Forex Line indicator is suitable for both seasoned and experienced traders. You can also use the indicator for long term and short term trading.
Using the indicator in trading is not difficult, since the Forex Line works and is used almost the same way with moving averages and other indicators that are similar in scheme. The indicator line changes color depending on the current trend, and thus first determining the current market trend, in its direction a trade can be opened. In the same way, with a new line color change, the current position can be closed.
Signal for Buy trades:
- The indicator line moves up and is colored with the growth value.
- The signal candle should close above the indicator line.
After the line acquires these values, a long position can be opened on the signal candle, due to the presence of an uptrend in the market. Such a position should be closed immediately after the line acquires a new color, since at this moment a trend change occurs, and this will allow opening new trades.
Signal for Sell trades:
- The indicator line, colored with the falling value, moves downwards.
- The signal candle should close below the indicator line.
After these conditions appear on a certain candle, a sell trade can be opened, due to the presence of a downtrend in the market. It should be closed immediately after the indicator line changes its values, namely color or direction. At this moment, it becomes possible to open new positions in the direction with the current movement.
Forex new Line Indicator download link
