Trade Zone Area Indicator MT4 is a trend based indicator and it has been developed aiming to detect real time market momentum for daily traders. It plots using its Trade Zone signal whenever price starts coiling in a certain area and prepares for a possible breakout. This indicator will always point the breakout direction within the current trend.
Forex Trade Zone Area Indicator is a very special tool for scalpers and day traders because, entering a trade at the breakout which is also within the trend is their favorite and this indicator does exactly the same job for its users.
You can use Forex Trade Zone Area Indicator for any Forex currency pair and it is best used in between M15 to H4 charts.
Forex Trade Zone Area Indicator Overview
Once you install this indicator in your mt4 trading system, your chart will appear as the following image:
|M15 to Any
Have A Look At: Trend Following Made Easy Fx System
Forex Trade Zone Area Indicator Anatomy
- Blue Trade Zone: This tool indicates the current momentum is bullish and price may breakout upwards. It also signals the continuation of bullish trend.
- Red Trade Zone: It is plotted whenever there is a bearish sentiment in price or market is already in bearish trend which is going to be continued. It also signals possible bearish breakout levels.
Forex Trade Zone Area Indicator: Buy Parameters
- Initial price movement direction upwards
- Blue Trade Zone is plotted
- Buy triggers when price breaks out above the Blue Trade Zone
- Set stop loss below the respective bars low
- Take profit when price gets rejection from any resistance level
Forex Trade Zone Area Indicator: Sell Parameters
- Initial price movement direction downwards
- Red Trade Zone is plotted
- Sell triggers when price breaks out below the Red Trade Zone
- Set stop loss above the respective bars high
- Take profit when price gets rejection from any support level