The price action trading strategy is a Forex trading strategy used to detect the price action patterns, price action changes, and the price action trends in the Forex market. Mostly, this strategy is used to identify price action movements. This indicator also tells whether the price is moving in a bearish trend or the bullish trend.
When the price is moving in a bearish trend then the price is decreasing in the forex market and when the price is moving in a bullish trend then the price is increasing in the Forex market.
This trading strategy uses different features that help to plot perfect and precise measurements.
- Trading session
- Mini dashboard
- Fibonacci levels
- Trend lines
- Hunting zones
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Trading session: –
With the help of this session, traders can change their time sessions if they want. For example, a trader is trading in the London time session and he is not getting profitable trade here and he wants to change the time session to make profits in his trade candlestick price action trading pdf.
With the help of this trading strategy, it is possible to leave the trade without loss forms on the trading session and join the other time session for a profitable trade.
Mini Dashboard:
It is a feature used to show different information related to trade. It shows candlestick patterns, currency pairs, time, price action, price movements, trading sessions, and candlestick life.
Fibonacci levels:-
With the help of this feature, the traders can retrace the Fibonacci levels i.e. support and resistance levels. It is also used to identify high and low ranges in price action.
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Trend lines:
This feature helps the traders to identify the trending lines in the market trend; it helps the traders to detect the bullish and bearish trends. It also helps the trends to determine the buy and sell levels in the market trend.
Hunting zones; –
This feature enables the users to identify the assisting levels for the price action. It is used to detect the volatility in the market trend.
CHARACTERISTICS: –
The price action indicator has the following characteristics. This indicator uses all the timeframes to trade but the best timeframe to trade with the help of this indicator is 1 minute, 5 minutes, 1hour, 5 hours, and 1 day. It can also use all the currency pairs to trade.
This indicator is specially designed for Meta trader platforms like mt4 and mt5. This is also designed for the forex and binary trading system. This indicator can be used in all the trading sessions no matter they are London time sessions, European time sessions, or New York time sessions.
This indicator also has a specific candlestick pattern that helps to differentiate between different market trends. This indicator is applicable for all the traders and it is available for both short term trade and long term trade.
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This indicator uses different color schemes that help the traders in easy understanding and it also uses a specific level or pip that helps to differentiate the up and down in the price action of different market trends.
Uses: –
There are different uses of this trading strategy. This trading strategy is used to detect the price movements in the market trend.
It helps the traders to identify up and downs in the market trend. It uses different levels which help it to make a precise calculation that gives high profits to the traders.
