Turn Area Forex Indicator is a combination of Relative Strength (RSI) and Exponential Moving Average (EMA). Providing such a unique blend, this indicator has been able to define the market trends along with its overbought/oversold conditions. Therefore, it supports both scalpers and day traders with their daily trading tasks which include consistent trade entry and exit signals.
Turn Area Forex Indicator adjusts itself with all sort of timeframe charts available within your forex MT4 trading platform. Besides, it can be applied to trade any forex currency pair you like including metals, CFDs, and stocks featuring in the financial markets.
Turn Area Forex Indicator Overview
Download Turn Area Forex Indicator and install it on your MT4 terminal. Once you’re done, your trading chart will appear like the following image:
Turn Area Forex Indicator Explanation
Turn Area Forex Indicator applies a 12-day EMA along with a 21-period of RSI for determining both the market trend and its overbought or oversold conditions.
The two indicators are placed ina single oscillator therefore you are not required to do any individual analysis. The indicator bars moves above its zero level means the trend is bullish.
The value turns negative when the market is in a bearish mode. The bars at the zero level signals for a sidle lined market (no trend). Its level between 15 and 25 is considered as the overbought area and levels between -15 and -25 represent the oversold area of the market.
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Turn Area: Buy Conditions
- Turn Area bars drops below its -15 level and bounces upwards
- The indicator value turns positive
- Buy triggers when the above conditions are met
- Set stop loss below the recent low of the market
- Exit long/take profit whenever the indicator bars stars to drop from its overbought level
Turn Area: Sell Conditions
- Turn Area bars rises above its 15 levels and drops downwards
- The indicator value turns negative
- Sell triggers when the above conditions are met
- Set stop loss above the recent high of the market
- Exit short/take profit whenever the indicator bars stars to rise from its oversold level