The On Balance True Range Indicator for MT4

The On Balance True Range Indicator For MT4 is a range tool that allows traders identify and enter correct trade directions with precise entries. It works on all time frames and all pairs helping the trader to identify areas where a breakout will occur, powerful trends, areas where price may likely retrace or reverse and areas where the trend will simply continue.

The On Balance True Range Indicator For MT4 does this by creating highs and lows with price to confirm that a trend is still in place or diverging from price action to show that price may likely not go far or will reverse immediately.  

Below is an example of what the On Balance True Range Indicator For MT4 looks like.

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The usefulness of the On Balance True Range Indicator For MT4

The On Balance True Range Indicator For MT4 is suited to any system and is better used as a tool for confirming trading signals rather than a tool for the actual entries. This is because the indicator produces a lot of divergence opportunities with price and will assist better in identifying if a new trend is correctly placed or not and if a new price move will likely follow through or will not.

Also, for volume traders who need volume data to trade, since transactions in the forex currency market are not centralized, the On Balance True Range Indicator For MT4 can play a very useful role as a worthy alternative to such traders.  As a standalone trading system, the On Balance True Range Indicator For MT4 can also be used to pick powerful entries and ride long term trends and also as a confirmation tool.

Advantages of Using The On Balance True Range Indicator For MT4

The On Balance True Range Indicator For MT4 works very well with other indicators like Moving Averages, Stochastic oscillators and MACDs and also works as a perfect compliment to any trading system, where it can confirm divergence entries and trend continuation entries in all pairs and time frames very excellently well. It also suits several trading strategies because of the unique kind of trading opportunities it provides.

The Below Images clearly shows how simple the trading signals produced by the On Balance True Range Indicator For MT4 can be with Buy and Sell clear entries.

On the lower time frames, the On Balance True Range Indicator For MT4 produces less accurate signals than on the larger time frames so it is mostly advisable to use it from the 1 Hour (H1) time frame and above since it produces less noise and less false signals on these higher time frames. It is also largely more reliable on the larger time frames.

The On Balance True Range Indicator For MT4 and other trade entry examples.

The On Balance True Range Indicator For MT4 lends itself especially well to breakout trading as it helps to identify breakout opportunities even before they finish forming. For instance, price may be retracing on a particular time frame. The On Balance True Range Indicator For MT4 them identifies an opportunity for a new buy trade but this opportunity is best taken after price has successfully broken out of whatever range price has been in during the retracement.

The On Balance True Range Indicator and a long term trade entry example.

The On Balance True Range Indicator For MT4 improves a trader's ability to stay in a trend as it can stay in a buy or sell position for as long as the trend remains valid and keeps moving. 

Another key advantage of using the On Balance True Range Indicator For MT4 is that it offers the trader very clean entry opportunities which are very easy to spot by anyone using the On Balance True Range Indicator For MT4.

The On Balance Volume True Range Indicator and Multiple Trade Entry opportunities to add to a trade.

One of the top perks why the On Balance True Range Indicator For MT4 is usually an indicator of choice is because within a trend, the On Balance True Range Indicator For MT4 allows the trader to clearly see opportunities to add positions to a trend.

This is very beneficial since a trader can then double or triple their entries resulting in a greater profit potential from the trade. For example, in a buy trade, the histogram of the On Balance True Range Indicator For MT4 and the moving average are usually headed upwards with the degree of steepness depending on how volatile the move upwards is.

During retracements, especially when the histogram turns downwards but the moving average doesn't turn downwards as well, a unique opportunity for a multiple entry is created when the histogram turns back up to the direction of the moving average.

Another Multiple Entry Trade opportunity using the On Balance True Range Indicator For MT4.

In terms of simplicity of entries, the On Balance True Range Indicator For MT4 does a great deal in showing the trader where to enter in very simple terms. A such example is with the moving average equipped with the On Balance True Range Indicator For MT4 which changes to green when it is time to buy and red when it is time to sell. 

 

 

 

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