RAVI FX Fisher Indicator is a trend-defining indicator that continuously looks for exceptions at price action changes and signals for trade entries whenever there is a confirmation of a new market trend. Besides signaling the market trend, it also identifies the sidelined or short-ranged market for avoiding unnecessary losses in “no trade’ situations.
RAVI FX Fisher can be added to any other trend-following forex trading strategies for greater accuracy in trading. Furthermore, this indicator is good for trading all kinds of forex currency pairs within any sort of timeframe chart you like.
RAVI FX Fisher Indicator Overview
Download the indicator and install it on your MT4 terminal. Once you’re done, find your trading chart like the following image:
RAVI FX Fisher Indicator Explanation
RAVI FX Fisher uses a dual-MA system in order to come up with effective trend signals for the trend-abiding traders. Its fast MA period is 4 and the slower one is 49. Its extern double trigger factor is 0.07.
This indicator plots the trade signals in the same manner as other trend-based histogram oscillators. For example, its value turns positive when the market is in a bullish trend and turns negative for confirming the current market trend as bearish.
It also signals for a no-trade situation or a sidelined market whenever its value keeps roaming around its zero or neutral level. For trade exits, you may stick to your fixed risk to ratio targets like 1:1 up to 1:3.
RAVI FX Fisher: Buy Conditions
- RAVI FX Fisher bars turns above the zero level
- Price breaks above its current range at the same time
- Buy triggers after the above conditions are met
- Set stop loss below the current market low
- Exit long/take profit whenever the trade achieves your desired risk to reward ratio
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RAVI FX Fisher: Sell Conditions
- RAVI FX Fisher bars turn below the zero level
- Price breaks below its current range at the same time
- Sell triggers after the above conditions are met
- Set stop loss above the current market high
- Exit short/take profit whenever the trade achieves your desired risk to reward ratio