MaksiGen_Range_Move Indicator For MT4
Table Of Contents:
- MaksiGen_Range_Move Indicator For MT4
- Trading ideas with the MaksiGen_Range_Move Indicator For MT4
- MaksiGen_Range_Move Indicator For MT4 - Range Breakout Technical Analysis
- MaksiGen_Range_Move Indicator For MT4 - Let Us Sell For Now
- MaksiGen_Range_Move Indicator For MT4 - Sell Now Buy Later
- MaksiGen_Range_Move Indicator For MT4 - Conclusion
The MaksiGen_Range_Move Indicator For MT4 determines when prices have entered in to a sideways range. When an asset price is within the dotted channel, the trend is deemed to be turned flat. This indicator can prove to useful for traders who employ range breakout strategies.
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Trading ideas with the MaksiGen_Range_Move Indicator For MT4
The dominant activity in any time frame is ranging meaning that the market ranges or moves in a sideways manner more than it trends. And that is the ultimate goal for this indicator is to help you identify when the market is in a sideways ranging channel. With this indicator, you are able to formulate breakout strategies because you can pinpoint ranging markets more accurately and you can see anomalies in terms of dramatic or sudden increases in volatility which is second nature to a breakout.
MaksiGen_Range_Move Indicator For MT4 - Range Breakout Technical Analysis
Looking at the image below I have shown you how to do range breakout technical analysis so that you can adequately equip yourself or prepare yourself for breakout trading.
Each time you see the price action in the dotted complex or range then you should automatically think that this is the area which the indicator values as a sideways channel or range. Ranging markets will inevitably lead to breakouts therefore it is paramount for you to know how to identify such areas.
But thankfully this indicator does the analysis for you in this regard. However, your only responsibility is to take a deeper look into the market to get a few clues that will enable you to determine the likely direction the market could break out in. In the image below we can see that we are in some sort of a breakout directional conundrum because we are attempting to determine whether or not the market is going up or down.
Looking at this image you can see at this stage we have the market and the indicators showing us in an ascending triangle pattern. This is a prominent bullish trend continuation pattern. In this regard, it is fitting because the underlying trend moves have been an uptrend leading into the said pattern.
Based on these underlying happenings the market is set for a bullish move but there are other opposing factors that could resist bullish activity for the short-term interim or period. No matter what is going on in the market, you still need to conduct a technical analysis to find a justifiable means for opening any trade position.
MaksiGen_Range_Move Indicator For MT4 - Let Us Sell For Now
So in this next example, we discover that the best thing to do in the interim is to sell as shown in the image above below.
In the market you can see that the market looks set for taking buy orders. That is the long-term outlook based on the big underlying uptrend and the existence of the ascending triangle as shown by the indicator. However, there are multiple factors that go against this logic and therefore we will look at selling (short-term).
These two elements are listed as follows. First off we have a possible double top formation which I have drawn out for you using red lines. And beyond that, you also have a bearish engulfing pattern that could result in a bearish breakout. So these two elements alone add a great deal of clarity in terms of what to do in the short-term interim. So in essence we basically gonna sell now and then we gonna buy later.
MaksiGen_Range_Move Indicator For MT4 - Sell Now Buy Later
The next image and example further reinforce this trading idea.
So in the above image you will notice that I extended the prospective of the second top of the double pattern to the 61.8 retracement level which is around the 1.31840 price zone. This is the extent to which I will be trading my short positions for the short-term.
The bearish engulfing pattern is my hint that could invalidate the buying narrative proposed by the ascending triangle but the sell-off will be short-lived. Then after that, if the 61.8 retracement level offers me strong support then I will open long positions which could evolve into swing trades because based on my technical analysis the long-term outlook, relative to this time frame is bullish therefore buying works out fine in this sense.
MaksiGen_Range_Move Indicator For MT4 - Conclusion
The MaksiGen Range Move Indicator is one of the most effective tools to use when it comes to breakout analysis and trading. Because with breakout trading, the crucial aspect of it is that you need to know the starting points of sideways channels or ranging zones. Furthermore, you also need to know or approximate the termination level or time when this range could come to an end which ultimately gives birth to a breakout. This indicator works well in this regard.
However, it was shown how important it is to always analyze the market on a deeper level without relying too much on the indicator. Remember indicators are trading-aids - they are just there to assist you in your analysis. However, the limitation with indicators is that they do not tell the full story. Therefore, the onus rests on you to try and figure out what else is going on in the market beyond the data shown to you by an indicator of this nature.
There was one example, where we discovered that the market is giving us a big bullish pattern which held a lot of merit for the long-term. However, it was shown that there were opposing forces that could offer a great form of resistance to the bulls therefore short trades were the order of the day for the short-term based on a bearish breakout. There were a lot of elements that came into play during the analysis we did.
Therefore, it was crucial for us to take a thorough look into what is the most likely outcome for both the short-term and the long-term. The short-term outlook provided me with exit points for prospective short trades using a Fibonacci retracement tool. The Fibonacci ratios proved important for me because it corresponded with a potential support level that could pave the way for my long trades which could result in swing-trades if the market ends up playing ball.
