Pivots_Hi_Low Indicator For MT4
Table Of Contents:
- Pivots_Hi_Low Indicator For MT4
- High, low and pivot points
- Trading against the trend
- Sub-Heading 3Use of trailing stops
- Altering the value
- Developing your strategy
Executing trades based on pivot point analysis (PPA) is a very efficient process. Starting from the pro traders ending with the retail investors, everyone knows the importance of the pivot point trading system. But knowing its importance is not enough to secure your investment. If you want to take advantage and make a profit from this market, you must use the Pivots_Hi_Low Indicator For MT4. This indicator prints the most significant highs and lows based on last days' data. Though there are many tools but of the pivot point indicators messed up the trading chart. You will have no such issues while using the Pivots_Hi_Low Indicator For MT4.
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
The Pivots_Hi_Low Indicator For MT4 has two important parameters. After you install it, you will have to wait for a few seconds since the complex calculations will be done by the Pivots_Hi_Low Indicator For MT4 in the background. As soon as the data is being calculated you spot green and red dashed lines. The green dashed lines can be used to shorting the pair and the red dashed line should be used for finding buying opportunity. But blindly trading these levels will not add any value to your portfolio. You have to know the signs of highs and lows to become good at trading.
High, low and pivot points
Learning about the highs and lows is very crucial for your success. You might get these key levels by using the Pivots_Hi_Low Indicator For MT4, it’s better to have a clear concept. When the bulls try to rally higher and break a critical level before starting its retracement, we have a new high in the market. Similarly, when the bears try to rally down breaking major supports and create a new low, before starting its bullish correction we have our new record low. The Pivots_Hi_Low Indicator For MT4 can be used to determine the highs and lows during based on previous days' past movement. These points will act as a critical pivot which means you can look for trade setups.
Trading against the trend
The Pivots_Hi_Low Indicator For MT4 is the most favorite and applicant for the advanced traders. Since this tool is used to determine the extreme price zone, you are looking to trade against the existing trend. But this doesn’t mean you will always have to trade major reversal. At times, you might end up placing the best trades in favor of the long term trend. Let's see how we can use the Pivots_Hi_Low Indicator For MT4 to place our trade.
Figure: Using the Pivots_Hi_Low Indicator For MT4
There are two prominent lines in the EURUSD H4 chart. The red dashed lines represent yesterday’s high and the green dashed lines indicators yesterday’s low. Since the price is testing the red dashed line, it is safe to assume, the sellers are trying hard to regain control of this market. With a bearish signal or candlestick setups, we can short the EURUSD pair based on the data of the Pivots_Hi_Low Indicator For MT4. The initial take profit should be set to the green dashed lines. Though it’s a very short target compared to the stop loss, we are having a very good RR or risk-reward ratio.
Sub-Heading 3Use of trailing stops
Many professional traders’ rides the fresh trend right after the reversal with the help of Pivots_Hi_Low Indicator For MT4.In the above scenario, most of the traders will make 1:3+ profit. But if the market decides to reverse its direction, we will miss a big portion of the profit. To avoid missing this big profit, we can focus on trailing stops and continue to ride the trend as long as it allows us. However, trailing stops should not be used when you have high impact news. The major news results in extensive price swings and the traders eventually lose money on the trades which have tight stops. If things get too confusing, start using fixed stop loss and take profit. Trading should be done in a relaxing way or else you are not going to have a better life. Forget about the losers and try to implement new ideas to ensure consistency.
Altering the value
The intermediate and the pro traders often love to change or alter the value of the default settings in any indicator. But in the case of Pivots_Hi_Low Indicator For MT4, you are not required to change the settings. The default settings have been determined based on test results and complex mathematical calculations. So, if you use the raw settings of the Pivots_Hi_Low Indicator For MT4, you should not face any significant issues with your trade results. Though this might give you a huge profit-taking opportunity, you should not forget the fact, losing orders are inevitable. Before you place any trade, ask yourself whether you are comfortable to lose a certain portion of your investment. If not, wait for the next signals but there is no reason to increase the tensions in trading by taking unnecessary risk.
Developing your strategy
To make your life better, you have to consider Forex or trading profession as your business. Never expect to become a millionaire by getting access to the smart Pivots_Hi_Low Indicator For MT4. Tools are meant to help the traders and if you get used to it, you will eventually ruin your career. Focus on the other important parameters and try to create a unique strategy that defines your personality. Those who love to trade the lower time frame should learn more about the trade management technique. Forget the fact, you have access to a high leverage account. Try to come up with a unique solution that will create the opportunity to make a profit even after facing a few consecutive losing trades. Learn from your trading mistakes and never lose hope in your strategy.
