T3 Bands MTF Alerts Indicator is a trend-following forex trading indicator used to spot breakout trading opportunities along with the trend directions. Besides identifying the market trends and the breakout trade setups, this indicator can also be used to spot the possible exit levels of any activated trade entries at the market. Its simplicity of use and easy demonstration of trade signals offers great advantages for the newbie traders.
T3 Bands MTF Alerts Indicator can be used for scalping, intraday, and daily tradings thus work great on all sorts of timeframe charts. Moreover, this indicator can be applied to trade all kinds of forex currency pair around the market.
T3 Bands MTF Alerts Indicator Overview
After the installation of the indicator at the MT4 platform, your trading chart will appear like the image below
T3 Bands MTF Alerts Indicator: How does it work?
The Indicator applies a 3-band channel in order to identify the trend direction and the trade signals. The mid-band works as the trend definer. Price remains above the mid-level when the trend is bullish and moves below the level in case of bearish trends. Price breaks above the upper band represent the bullish breakout/long trade opportunity following the uptrend. On the other hand, price breaks below the lower band are considered as the bearish breakout offering sell opportunities.
Also Check: Best Forex Trading Strategy
T3 Bands MTF Alerts: Buy Condition
- Price remains above the mid-level
- A bullish bar closes above the upper band
- Buy triggers at the break of the respective bullish bar’s high by the following price candles
- Set stop loss below the mid-band level area
- Exit long/take profit whenever a bearish bar closes back inside the upper band of the indicator
T3 Bands MTF Alerts: Sell Condition
- Price remains below the mid-level
- A bearish bar closes below the lower band
- Sell triggers at the break of the respective bearish bar’s low by the following price candles
- Set stop loss above the mid-band level area
- Exit short/take profit whenever a bullish bar closes back inside the lower band of the indicator