The FQ Head Fake Indicator For MT4
The FQ Head Fake indicator for MT4 is a very dynamic tool suited for both novice traders and professionals.
It works by helping the trader automatically detect market turning points in price action when trading the currency markets. The FQ Heads Fake indicator can also be used for binary options trading as well.
How the FQ Head Fake indicator works
The FQ Head Fake indicator helps traders detect market turning points so effectively because it identifies where there has been a strong, quick fake move to the upside or downside, likely to trap a lot of traders into believing that the market is moving in that direction, whereas the market intends to move in the completely opposite direction.
These fake patterns that are detected by the FQ Head Fake indicator mostly leads to trading reversals since a lot of traders have most likely been trapped on one side of the market.
The Head Fake indicator is a very aggressive indicator and can either be used as a standalone indicator or as a part of a trading system as it offers excelling support in finding clean entry points for either buying or selling in the markets.
The FQ Head Fake indicator when used as part of a trading system can also be used to uniquely identify when a trend is about to change as it gives out very early warnings of price reversal when such reversals are about to occur in the markets.
The FQ Head Fake indicator for MT4 can be used with indicator based trading systems as well as pure price action based trading. When the FQ Head Fake indicator is used as a part of an indicator based system, it supports the other indicators, only confirming their signals mostly when they are correct.
For instance, when the indicators you use generate a buy or sell signal, you can then look to the FQ Head Fake indicator to know if it also generated a buy or sell signal as well. The trade can then be take if it generated the same signal as the others or skipped if it doesn't generate the same signals as the other indicators.
When the FQ Head Fake indicator is used as a part of a pure price action based strategy, it can be used to detect trend change or reversal signs early and forewarn the trader who then carefully observes for the right time to either take a trade or leave a trade.
Some Trading Ideas
The FQ Head Fake indicator for MT4 is an indicator that can work for both scalpers and swing traders. It can uniquely generate extremely high risk to reward ratios when the signals go correctly.
The FQ Head Fake indicator becomes more accurate as the time frames become larger, so the H1 time frame is likely to be more accurate than the M5 time frame since the FQ Head Fake indicator produces less and less Fake signals as the time frames increase.
For scalpers, the FQ Head Fake indicator can produce very nice profits by identifying a signal on a higher timeframe, say H4 using the FQ Head Fake indicator and then going down to the M5 timeframe to trades based on the FQ Head Fake indicator entries in the larger timeframe signal direction. For instance, if the FQ Head Fake indicator generated a buy signal on the EURGBP H4 timeframe, the scalper can then go down to the 5M timeframe and take only biuy trades generated by the FQ Head Fake indicator on the 5M timeframe.
The FQ Head Fake indicator delivers very good results when used as a stand alone indicator for trading. It can also be combined with several other indicators that detect oversold and overbought signals like the Bollinger Bands, Stocastic oscillators, Relative Strength Index to filter out better signals.
The FQ Head Fake indicator can also be combined with Indicators that identify divergence like the OSMA and RSI for better entry signal accuracy once a divergence setup is spotted.
The FQ Head Fake indicator can also be combined support amd resistance price action trading. The FQ Head Fake indicator can be used to provide trend direction for trade entry at a support or resistance level or used with an indicator that automatically helps to identify support and resistance levels. This combination of the FQ Head Fake indicator with support and resistance trading can generate the best rewards for the trader using it.
As an example, the FQ Head Fake indicator can be combined with the Ichimoku indicator for entering trades after a support or resistance level has been detected and tested (for trend reversal strategies) or tested and broken (for trend continuation strategies).
Here are some trade examples using the FQ Head Fake indicator.
Example 1: Showing the FQ Head Fake Indicator combined with Ichimoku Indicator on the EURUSD 1H Time frame.
Example 2: Showing the FQ Head Fake Indicator combined with Ichimoku Indicator on the Gold 1H Time frame.
Example 3: Showing How to Scalp Large moves from the Higher time frames using the FQ Head Fake Indicator combined with Ichimoku Indicator on the GBPJPY 1H Time frame.
The trader then moves down to the lower time frames (5M in this example) to scalp in the direction of the original trend, broken down in this example as moves A, B, C and D.
And on the 5M time frame, the trader still takes trades based on the FQ Head Fake Indicator combined with Ichimoku in the direction of the higher timeframe signal. Move A is shown as:
Then Move B:
Then Move C:
And finally Move D: