Only One Trade a Day Trend indicator has been designed based on the combination and crossover of two kinds of MAs (fast & slow). Like other crossover trend signal indicators, it doesn’t make your trading chart clumsy with tons of average lines. It works in background and signals the trend when it gets a confirmation about a possible trend to be started.
Only One Trade a Day Trend indicator works best for newbie traders who struggle to sort out the MA crossover signals while trading. It works best to trade major forex currency pairs and fits well with M15 & H1 charts for intraday trading purposes.
Only One Trade a Day Trend indicator overview:
After you install Only One Trade a Day Trend indicator at your forex MT4 trading terminal, your chart will appear like the following image:
This indicator plots the signals whenever its fast and slow MAs confirms a crossover in the background (bullish or bearish). It plots simple up or downward arrows around the price bar to signal the market entry along with the confirmation of the current trend. Buy when an upward arrow is plotted below the signaling candle and sell when you counter a downward arrow at the chart. But it is recommended to accept the buy signals from the bottom an sell signals from the top of the chart screen.
Only One Trade a Day Trend indicator: Buy Parameters
- A bullish bar forms at the bottom of the chart
- Only One Trade a Day Trend indicator plots an upward arrow right below the bullish bar
- Set stop loss below the low of the signaling bar
- Exit long/take profit once your trade reaches double of your budgeted loss of the particular trade.
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Only One Trade a Day Trend indicator: Sell Parameters
- A bearish bar forms at the top of the chart
- Only One Trade a Day Trend indicator plots a downward arrow right above the bearish bar
- Set stop loss above the high of the signaling bar
- Exit short/take profit once your trade reaches double of your budgeted loss of the particular trade.
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