Slope Direction Line Indicator can be named as the most relaxing and reliable Forex trading indicator at the market. It demonstrates the trend signals as simple as possible so that everybody can understand and be benefited from it. The great track record suggests that once you get used to it, you’ll stop looking for the best Forex indicator around the market.
Slope Direction Line Indicator has been designed to trade any Forex currency pair available at the market. Besides, you’ll be enjoying the freedom to apply it at any timeframe charts so that you can adjust quickly with the market according to your time budget.
Slope Direction Line Indicator Overview
After the installation of Slope Direction Line Indicator at your Forex MT4 platform, your trading chart will appear as the following image:
Slope Direction Line Indicator uses a single slope with multiple up/downward arrows to demonstrate the market trend with entry/exit signals. For a bullish trend, the slope turns white, price keeps closing above the slope and an upward arrow is formed immediately to signal a possible buy entry. For a bearish trend, price keeps holding its positions below the slope, the slope itself turns into red and a downward blue arrow is plotted to signal a sell entry along with the downtrend. Signals plotted against the current trend are considered as the market exit points.
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Slope Direction Line Indicator: Buy Parameters
- Slope Direction Line Indicator turns white
- Price holds its position above the slope level
- A bullish bar forms along with an upward white arrow
- Buy triggers when all of the above conditions are met
- Set stop-loss limit below the slope area
- Exit long/take profit whenever the slope turns red and a downward arrow is plotted by the indicator
Slope Direction Line Indicator: Sell Parameters
- Slope Direction Line Indicator turns red
- Price holds its position below the slope level
- A bearish bar forms along with a downward blue arrow
- Sell triggers when all of the above conditions are met
- Set stop loss limit above the slope area
- Exit short/take profit whenever the slope turns white and an upward arrow is plotted by the indicator