MA BBands YXF Indicator is mainly a trend-following trading indicator but it can be applied for swing trading too. Its special MA slope signals for the current trend of the market. On the other hand, its BBands signals the overbought and oversold market status. This indicator can be applied to trade all kinds of forex currency pairs across the financial markets and suit all sorts of timeframe charts too.
MA BBands YXF is pretty much easier to understand and simple to follow. Newbie traders who are interested in both trend and swing trading may get benefited from using it in live markets.
MA BBands YXF Indicator Overveiw
Download and install the indicator on your MT4 trading platform. Once you’re done, your chart will appear like the following image:
MA BBands YXF Indicator Explanation
MA BBands YXF is a combination of 9-day MA, 3-day OsMA, and a 20-day Bollinger Bands. The MAs create a simple green slope treated as a dynamic trendline. Price holds above the level means the market is in the bullish trend.
Price remains below the trendline level represents the bearish market trend. On the other hand, the lower band of BBands represents the oversold level and the upper one as the overbought level of the market.
For swing traders, its time to go for a buy entry when the price is supported at the lower band and go for short when the price hits the upper band of the indicator.
Read More: RoboForex Broker Review
MA BBands YXF: Buy Conditions
- Price is supported by the lower band of the indicator
- A blue arrow appears below the price candle’s low
- Buy triggers when both of the above conditions are met
- Set stop loss below the lower band area
- Exit long/take profit whenever a red arrow appears above the price candle’s high
MA BBands YXF: Sell Conditions
- Price is resisted from the upper band of the indicator
- A red arrow appears above the price candle’s high
- Sell triggers when both of the above conditions are met
- Set stop loss above the upper band area
- Exit short/take profit whenever a blue arrow appears below the price candle’s low