Simple Horizontal Grid Indicator For MT4
The Simple Horizontal Grid Indicator For MT4 is mostly used as pivot indicator. Those who are new to the trading profession, might not understand what a pivot is. The pivot point is nothing but the potential trading spot which offers to buy and selling opportunity. To make it more clearly, it acts as support and resistance level. Those who are experienced in trading knows the fact, without having a precise knowledge of support and resistance it’s not possible to make a profit. Those who use EAs and bots to find the support or a resistance point is making a big mistake. The EAs and bots are nothing but a bunch of codes. If you rely on the codes, you are not going to become a successful investor.
The Simple Horizontal Grid Indicator For MT4 is an amazing tool when you use it in the right time frame. The new investors love the lower time data and eventually lose money. In the lower time frame, you will never get the exact support and resistance zone. Most of the time, you will be trading the minor zones. To avoid such complexities, it’s better to trade the major zone all the time. And always remember, you can’t change your life without learning the proper method of trading. You don’t have to create a complex trading technique, just use the Simple Horizontal Grid Indicator For MT4 and try to come up with a simple strategy.
Using the dynamic SMA
If you consider yourself as a pro trader, you must have known about the 100 days SMA. Those who are new, have nothing to worry. The 100 day SMA acts dynamic trading zone for the retail traders. Most of the time, the price respect the dynamic levels and allows the investors to make a huge profit. And if you use the Simple Horizontal Grid Indicator For MT4, you need to look for the convergence of the dynamic levels and the grey color horizontal line of the indicator. But this is the advanced method of using the Simple Horizontal Grid Indicator For MT4. We are going to teach a simple technique to trade the financial instrument based on the reading of this class indicator.
Trading the breakout
Breakout trading strategy is the most difficult task. Most of the time, the market stays extremely volatile and it’s very hard to pin out the perfect entry point. At times you will have to lose trades due to false breakout. But if you rely on Simple Horizontal Grid Indicator For MT4, you will never have to face such issues. The dark grey color horizontal line of this indicator acts as the central pivot. And the light grey color line is the minor pivot. Always try to find trade setups at the dark grey colored line since it increases your win rate.
Figure: Trading the major breakout with the help of central pivot
The yellow marked region is the dark grey colored line which is automatically drawn after loading the Simple Horizontal Grid Indicator For MT4. This is the key zone where we need to look for the trade setup. Initially, the market was in an uptrend but afterward, the price dropped to the central point of the Simple Horizontal Grid Indicator For MT4 and breached the support zone (green marked region). This indication might be enough to execute short but not for the users of the Simple Horizontal Grid Indicator For MT4. They will look for a minor retracement of the price towards the green zone or dark-colored line. Once the price touches that level, they will short the pair with confidence.
The complexity associated to stop loss
The smart traders always trade with predefined stop loss. But trading the major breakout requires a perfect understanding of money management rule. By using traditional stops, you can’t secure the profit in the Forex market. The moment you rely on the Simple Horizontal Grid Indicator For MT4 is the very moment you need to use the 1% rule of money management. No matter which trading edge you follow, never risk more than 1%. Reduce the lot size to in line with this rule. Though you will have many winning trades still it’s better to use this technique since it is followed by the experienced traders.
Trend trading technique
The naïve traders might think, this strategy involves a breakout strategy. But the Simple Horizontal Grid Indicator For MT4 can also be used to trade with the trend. For that, you have to know about the end of the retracement in a trend. Though you can use many tools, the smart traders rely on the Fibonacci level. If the dark-colored line of the Simple Horizontal Grid Indicator For MT4 coincides with the 50% or 61.8% retracement point, execute the trade. If necessary, look for a valid candlestick to improve your win rate. Though the trend trading technique is extremely profitable, still you should not risk more than 2%. Always trade this market within your comfort zone or else you will have a tough time in trading.
Variations of the trade setup
The trade setups greatly vary from among the trades. Experienced traders might be using the simple moving average but this doesn’t mean, you have to use the 100 days SMA. To trade with the trend, you can rely on the dark grey colored line of the Simple Horizontal Grid Indicator For MT4, and Fibonacci retracement level. Many advanced traders often use the chart pattern technique and this indicator to maximize the profit. The possibilities are endless when you deal with the central pivot point trading system. But to ensure consistency, you must practice properly in the demo environment. Without educating yourself, you will never be benefitted from the use of Simple Horizontal Grid Indicator For MT4. Devote yourself and try to create a simple trading technique. Keep your risk exposure low so that you can always deal with the losing orders.