Reversal Navi Forex Indicator is best known as the price-action based scalping tool among the short-term traders across the financial markets of the world. It accumulates recent price data and transforms it into trend reversal signals. Besides market entries, this indicator also signals for trade exits.
Reversal Navi Forex Indicator suits only with the shorter timeframes like M1 to M15 within the MT4 forex trading platform. However, this indicator can be applied to trade all kinds of forex currency pairs around the financial markets.
Once you’re done with the installation of the indicator at the MT4 terminal, your trading charts appear like the following image
The indicator captures the highs and lows of the past price data and combines it with its own Navi parameter to come up with the trend-reversal signals. It turns red and appears below the price bar signals for the bullish trend-reversal.
On the other hand, if price breaks below the red band and a blue band of the indicator appears above the price bar then the signal is considered as the bearish trend-reversal. This indicator is a stand-alone indicator. However, you can add it to any trend-following strategy for enhancing the trading performances.
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- Price closes as a bullish bar above the indicator bands
- The indicator turns red
- Buy triggers when the above conditions are met and the high of the respective bar is broken
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever the price closes below the indicator slope
- Price closes as a bearish bar below the indicator bands
- The indicator turns blue
- Sell triggers when the above conditions are met and the low of the respective bar is broken
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever the price closes above the indicator slope