Power Wave Oscillator Indicator for Meta Trader 4
Table Of Contents:
- Power Wave Oscillator Indicator for Meta Trader 4
- Some of the Advantages and Disadvantages of using the Power Wave Oscillator Indicator for Meta Trader 4
The Power Wave Oscillator Indicator for Meta Trader 4 is an indicator that is built on the Meta Trader 4 charting platform that can help traders by identifying when a trend is moving with power. It identifies the trend moving with power and then prints histograms that then the Trader to visually measure how much power the trend has so that he or she can either stay on the trend or look out for another trend. The indicator offers traders so many benefits and some of these benefits are outlined and discussed below.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
Some of the Advantages and Disadvantages of using the Power Wave Oscillator Indicator for Meta Trader 4
One of the major advantages of using the Power Wave Oscillator Indicator for Meta Trader 4 is that it helps traders to identify trends that start off with power in them. This means that this indicator will help a trader to easily spot the price starts moving at a very fast pace in the market and will then print very long bars in its histogram to help the Trader notice such a trend.
This is important because most times after a market finishes ranging and wants to break out into a new major trend if breaks out with power and once the Trader can spot these times when the trend power eruption happens, the trader can then participate in major trends just as they start in the markets. This means also that it will become difficult for the Trader to miss any major trend moves if he watches the indicator keenly during the trading day.
Another major advantage of using the Power Wave Oscillator Indicator for Meta Trader 4 is that it creates a wave-like oscillator for a price each time a new wave of the trend starts. This naturally promotes multiple entries for the Trader so that he or she can then get into the trend using multiple positions and maximize their profits.
This means that a trader can easily can very easily accumulate several positions on a single trade if he carefully watches the Power Wave Oscillator Indicator for Meta Trader 4 as it naturally prints highs and lows during a trend and can equally print a new wave of a trend, thereby giving the Trader an entry opportunity into the trend. This is very helpful for the trader and can help him or her to quickly accumulate a lot of profits and losses in the markets very quickly so that he or she can make maximal profits from any trades they are currently in.
Another major advantage a trader can derive from using the Power Wave Oscillator Indicator for Meta Trader 4 is that the trader can effectively use it to spot price reversals and this way, the Trader can make a lot of profits from the moves that work. This means that when there is a price reversal, the indicator can help the Trader to identify such periods by printing more waves using its histogram in the downward direction.
This will easily help the Trader to spot that the trend on the current timeframe that he is on has actively reverse. For instance, a trader takes a buy trade and he is currently up about +150 pips but the trader doesn't know that there is an imminent reversal pending. The trend suddenly reverses and the Trader still leaves his trades running without identifying that there has been a reversal.
Suddenly, his profits have dropped to about 29 pips and the Trader who probably just stepped out to say hi to a neighbor is upset and he sits there watching the charts waiting for the move to change direction. The move doesn't change direction at all but rather continues downwards in a nosedive pattern eventually taking the Trader to - 1.2 pips. The Trader is now at that place where he is currently regretting why he didn't cut the trade when it was 150 or when it was 20 but is now determined, more than ever that he will make a profit from the market even if it is 1 pip.
The Trader then watches as the Trader takes him out for a full percentage loss. He is upset and unsettled because he didn't know when the market actively changed direction or he would easily have taken some profits or even closed out the whole position. Such is the fate of the person who doesn't have an indicator that can tell him when a market has actively reversed and that is exactly what the indicator helps the trader to do - Spot reversals.
Another advantage traders that use the indicator have is that the Power Wave Oscillator Indicator for Meta Trader 4 can easily help them to ride an entire trend. This means that when a new trend starts, the indicator creates a new signal and doesn't drop that signal until the trend that caused it has actively ended. This means then that a trader who takes a trade based on that trend will not be afraid to lose money as the indicator will quickly show the Trader a change in trend direction the moment that a trend reversal has occurred so that the trader can quickly especially if the Trader is currently in profits.
Lastly, the Power Wave Oscillator Indicator for Meta Trader 4 can also help traders to spot divergence in price action. This is because when traders watch the price action and the histograms produced by the indicator together, they easily realize that the histograms move in the same direction as the price action.
This then helps the trader to identify the times when the histogram and the peaks and troughs of the histogram do not move together in the same direction or do not both produce higher highs or lower lows for example. This would then be an example of when there is an active divergence between the histogram and price action itself and then the Trader can then look to take a divergence trade in the opposite direction to price.
