The Price Action Indicator MT4 is a custom indicator created for the traders which help the traders to identify the price ticks that makes the market price action clear. This indicator uses bearish or bullish signals for its price rates. This indicator tells the users that which direction is the most profitable direction for entrance in the market.
What is Price Action in Forex?
This indicator has combinations like Pin Bar, Internal Bar, and Model of Engulfing for bullish and bearish trends. This indicator gives opportunities for various patterns in dynamics which are invisible to the naked eye.
This indicator is specially designed for Meta trader 4 and Meta trader 5 platforms. It is developed for the Forex trading system.
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This indicator is an accurate indicator for both short term and long term traders, both beginners and expert traders can use this indicator for ease in their trade. You can easily make profits by understanding this indicator.
Price action is interpreted as the movement of security which is intermittent. Over time planning is done. With Price Action Trading, a trader can look at the previous data of the price action and can make a better trade with the help of past history.
A common price indicator is the use of price bars. Price bars indicate the open and closing price of a given market as well as its fluctuations during that time. This indicator automatically detects the price actions in the market trend. Price action indicator enables the traders to trade fast.
This forex indicator is a leveraged product; it means that this indicator can take a very long position in the market trend. This method is very helpful in daily trading because it needs a small deposit to start your trade and you can take a long trade as you want with the help of a small deposit. It helps to make a healthy profit from low cost.
This indicator allows traders to make their strategy so that they can use this indicator as they want and they can make healthy profits with the help of their strategy. This indicator identifies lots of information on the indicator chart. This indicator has the following features for plotting its trends.
- Mini Dashboard
- Trading Sessions
- Trend lines
- Fibonacci Retracement Levels
- Stop Hunting Zones
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- Mini Dashboard
The mini dashboard is a feature in the indicator chart that has different information like Currency pair name, candlestick pattern, point value, spread, the current quote, daily, range, weekly range, and the candlestick pattern for daily, weekly, and monthly chart.
- Trading Session
The trading session helps to know that in which session you are trading. It also shows the trading session of your previous trade. It shows trading sessions in different colours. This indicator has U.S session, Asian session, and London session.
- Trend Lines:
This indicator shows all trending lines on the indicator chart that helps to detect different trends in the market. Mostly, it draws piece action trend, buys entry and exit trends,
sells entry and exit trend, stops loss, and take profit trends.it uses colourful signals for indicating trend lines in the indicator chart. These trend lines help to know whether the price action is in uptrend or it is in a downtrend.
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- Fibonacci Retracement Levels:
This indicator also shows Fibonacci retracement levels. Fibonacci retracement levels are horizontal lines that tell where the support and resistance levels occur. These levels are based on Fibonacci numbers. 23.6%, 38.2%, 61.8%, and 78.6% are Fibonacci retracement levels. There are the more chances of occurrence of support and resistance levels. It is used to detect high and low price levels in the market trends.
- Stop hunting zones:
This indicator also has to stop hunting zones. It is a strategy in forex trading system that is used to force the market traders to drive their prices at an assisting level at which many other traders uses stop loss orders. This creates high volatility in the market trend and also creates a unique chance for investors who want to trade in that type of environment to earn healthy profits.
Like every indicator, this indicator also has a specific pip and specific candlestick pattern. The colour schemes for this indicator are Red and Green. Red colour candlesticks indicate the sell rate and green colour candlesticks indicate the buy rate in the indicator. With the help of specific pips, a trader can get the profit in their trade.
They can Stop Loss or Take profit with the help of these indicators. If the candlestick pattern is acting in a downtrend then it is the time buy or you are having a loss in the trade. If the candlestick pattern is acting in an uptrend to this specific pip then it is the best time to sell in the market or it is the best time for your profit in the trade.
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Analysis of Price Action Indicator:
It is very easy to analyze price action in the market trend with the help of candlestick bars. If the candlestick bar is below the opening of the price level then it is the seller candle and when the candlestick bar is above the opening of the price level then it is the buyer candle. You have to use this indicator very carefully by keeping ayes on seller and buyer candlesticks.
Price action indicator is one of the indicators which have too many uses. One of the most important uses of this indicator is that it provides analysis for price action. We can know the ups and downs in the price action rates of the market.
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This indicator uses bearish and bullish trend signals. This indicator gives opportunities for dynamic patterns which are not visible from the naked eye. Most of the traders and beginners are using this indicator to know the price action in the market.
This indicator can accumulate the historical data and gives you guidelines for your trader. By utilizing these guidelines you can make your strategy for your trade.