Vidya Zone MT4 Indicator has been developed based on multiple MAs with special parameters for producing trend-following trading signals. It uses only a 3-band signaling system for defining market support, resistance, and trends. Vidya Zone is very simple to understand and apply thus offers great advantages for newbie traders.
Vidya Zone MT4 Indicator can be applied to trade all kinds of forex currency pairs available in the financial markets. Moreover, this sophisticated tool suits all sorts of timeframe charts within the MT4 trading platform.
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Vidya Zone MT4 Indicator Overview
Download and install the indicator on your MT4 terminal. Once you’re done, your chart will appear like the following image:
Vidya Zone MT4 Indicator Explanation
Vidya Zone MT4 Indicator has been built with a 10-day CMO including a smoothing period of 9. Its upper band represents the market support areas.
The midline serves as a dynamic trendline, and the lower band outlines the current resistance levels of the market.
Once you’re confirmed about the market trend using the midline, you’ll have to look for price action signals at the support/resistance areas that match with the direction of the new market trend.
Besides defining the key market areas and trends, its levels can also be used for determining the stop-loss levels of your opened market positions.
Vidya Zone: Buy Conditions
- Price closes above the midline level
- A bullish candle closes right above the upper band area
- Buy triggers once the above conditions are met
- Set stop loss below the lower band area of the indicator
- Exit long/take profit whenever price hits below the lower band level
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Vidya Zone: Sell Conditions
- Price closes below the midline level
- A bearish candle closes right below the lower band area
- Sell triggers once the above conditions are met
- Set stop loss above the upper band area of the indicator
- Exit short/take profit whenever price hits above the upper band level