Kuskus Starlight Indicator For MT4
Table Of Contents:
- Kuskus Starlight Indicator For MT4
- Some of the Major Advantages and Disadvantages of using the Kuskus Starlight Indicator For MT4
The Kuskus Starlight Indicator For MT4 is an indicator that is built on the Meta Trader 4 charting platform. The indicator is built for traders who use the charting platform for actively making trading decisions during the trading day, for doing all of their technical analysis on their selected currency pairs and trading assets and for charting all of the timeframes of all of the trader's choice of currency pairs or trading assets during the trading day.
The Kuskus Starlight Indicator For MT4 is built based on the price and the Range indicator that also works on the trading platform. Using the indicator, it is easy for a trader to identify exactly what the general trend direction is on whatever chart he or she attaches the indicator to during the trading day.
It is also easy for the trader to identify when the market trend has reversed to a new direction. The trader who has the indicator attached to his or her trading chart would derive a lot of other trading insights and advantages from using the indicator and some of these trading insights and advantages are outlined and extensively discussed below.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
Some of the Major Advantages and Disadvantages of using the Kuskus Starlight Indicator For MT4
One of the first major advantages of using the Kuskus Starlight Indicator For MT4 to the trader using it is that it can help the trader to immediately spot what the general trend direction is on whatever timeframe of whatever currency pair or trading asset the trader is using the indicator on.
This means that the trader who has the indicator attached to his or her trading chart during the trading day would be able to spot at a single glance what the general direction of a trend is on that timeframe during the trading day.
The trader would be able to spot what the trend direction is regardless of what the currency pair or trading asset the trader is using the indicator on is as the indicator works on all currency pairs and trading assets. Being able to identify what the general direction of a trader's current trading chart is very important to the trader for a lot of reasons.
One of such reasons why being able to identify what the general trend direction using the Kuskus Starlight Indicator For MT4 is very important to the trader is that it can help him or her increase his or her probability of being profitable during the trading day. The trader would be able to increase his or her probability of being profitable if he or she only makes trades in the direction of the general trend.
This means that the trader would be able to increase their number of winning trades and reduce their number of losing trades when they use the Kuskus Starlight Indicator For MT4 to identify exactly what the general direction of the trend in their current timeframe is.
The trader would also be able to significantly reduce their losing trades when they only make trades in this general direction of the trend. Usually, in a trend, there are different waves that make the trend up. Some of these waves are in the direction of the trend and the other waves are in the opposite direction to the trend. The waves in the direction of the trend are the waves that actually make up the bulk of the trend movement and are usually larger and longer than the other waves.
On the other hand, the waves in the opposite direction to the trend are the retracement waves or the profit-taking waves and usually present an opportunity for the traders who have participated in the initial waves of the trend profitably to take off some of their profits during the trend.
Among these two different types of waves within a trend, the trader would immediately identify that the waves that move in the same direction as the trend are usually larger in size than those waves that do not move in the same direction as the trend.
Hence, if the trader stays with trading in the general trend direction that the trader identified using the Kuskus Starlight Indicator For MT4, he or she would statistically be able to make trades that are more likely to make profits since these waves will be aligned in the direction that the market will move strongly in.
The Kuskus Starlight Indicator For MT4 can easily help a trader to identify what this general trend direction is during the trading day. This is very possible since the Kuskus Starlight Indicator For MT4 prints colored symbols on the trader's charts to signify to the trader whether the market is currently in an uptrend or in a downtrend.
The trader would know if the market is in an uptrend because the indicator would print the green-colored symbols above the middle line in the indicator's subwindow. These green symbols will then symbolize to the trader that he or she is currently in a market uptrend and should better be placing buy orders as he or she has the highest probability of being profitable if he or she buys in the market instead of sells at that particular time.
This is because, as pointed out to the trader by the indicator, the trend is currently biased in the upward direction. On the other hand, the trader would immediately know that the trend is currently headed in the downward direction when using the Kuskus Starlight Indicator For MT4 if he or she sees that the indicator is currently printing red-colored symbols below the middle line in the indicator subwindow.
This would be a general indication to the trader that the market is currently headed in the downward direction and that the trader is more statistically probable to generate profits if he or she only makes trades in the sell direction. This way, it is then very possible for the trader to generate profits during a trend as the trader would be trading in the correct direction of the trend.
