Trend Oscillators are quite attractive to trade with because of its simplicity in signals demonstration and application. Such indicators are mostly admired by the newbie traders who aim to make an easy but stable start in the forex market. SSA of WPR MACD Indicator is one such wanted trading tool that used to plot straight and clear signals on possible trend reversals.
SSA of WPR MACD Indicator was developed especially for the forex scalping or short-term trading tasks. However, it also works well on intraday trading purposes. Therefore, you can apply it on M1 to H4 charts of your MT4 trading platform.
SSA of WPR MACD Indicator Overview
Download and install the indicator on your MT4 trading terminal. Once you’re done, find your chart like the image below:
SSA of WPR MACD Indicator Explanation
SSA of WPR MACD Indicator plots hidden crossovers in between 15-Fast MA and 45-Slow MA. It normalizes the crossover signals using a 14-period WPR tool. All the moving averages are calculated based on the Linear Weighted Method.
It has been observed that the indicator is quite stable in signal frequency and able to avoid false market moves most of the time. The conditions of the market trend are determined by the value of the oscillator bars.
The SSA bars turn light blue carrying a positive value represents the bullish trend of the market. On the other hand, the SSA bars turn deep blue carrying a negative value is considered as a confirmation of the bearish market trend.
SSA of WPR: Buy Conditions
- The SSA bars turn positive in value
- Price starts to bounce upwards at the same time
- Buy triggers after the above conditions are met
- Set stop loss below the current market low
- Exit long or take profit whenever the SSA bars turn negative
Also Read: XM Review – An Extensive Broker Review
SSA of WPR: Sell Conditions
- The SSA bars turn negative in value
- Price starts to drop downwards at the same time
- Sell triggers after the above conditions are met
- Set stop loss above the current market high
- Exit short or take profit whenever the SSA bars turn positive