TCI Indicator For MT5

TCI Indicator For MT5

Table Of Contents:

  1. TCI Indicator For MT5
  2. Trading ideas with the TCI Indicator For MT5
  3. TCI Indicator For MT5 - Buy Entries
  4. TCI Indicator For MT5 - Sell Entries
  5. TCI Indicator For MT5 - Conclusion

The TCI Indicator For MT5 also called as Trend Confirmation Index is used a trend detecting indicator. It calculates the values based on the close price of the last X canldes.

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The TCI Indicator For MT5 is also known as the trend confirmation index. Everyone knows the trend is very important in the currency trading business. Not only in currency pairs, have investors had to rely on the trend for taking trades in any financial instrument.

Trend trading strategy works very well almost with every asset but sadly the rookies don’t have any idea to trade with major trends. Most of them develop a very complex system to get confirmation by analyzing data from various factors. But the TCI V2 or the trend confirmation index can help you achieve better results most of the time. It works on the CPP level which is very hard to analyze using traditional tools.

Not only these, period, method, is the overbought and oversold state also determined with the help of this amazing indicator. You are getting 5 unique data that will allow you to analyze the quality of the trend. The TCI V2 can be configured with custom settings and you can change the 5 input parameters. Usually, you can go with the default parameters as it gives perfect signals to the investors.


Trading ideas with the TCI Indicator For MT5



Every indicator needs a well-balanced trading strategy. Without the help of an existing trading system, it is nearly impossible to develop a perfect trading edge. People who have been using the indicators for a long time knows how easily it can sync with an existing edge.

But, it’s a must to know the functions of the indicator. Learning about the TCI V2 function is very easy and traders of any level can rely on this indicator. The data is shown in the simple line format which has a reference line 50. The 50 reference line work as the potential trend identification zone. That means the line cross in the TCI V2 is going to give us the confirmation about a certain trade setup.


TCI Indicator For MT5 - Buy Entries




Investors usually get lost, when they start developing their trading edge for the first time. Developing the system from the scratch for the very first time is an easy task. Most people don’t have the skills to craft their trading methods. Before you start using this edge, we highly recommend you learn about the SR levels.

Those who don’t have a developed trading edge has added advantage as they can include the TCI V2 indicator from the start. The price should reject a strong support level and allow the trader to open the new long trade. But opening the new long trade without taking the confirmation can lessen the confidence level of a trader. The signal line of the TCI V2 must pass above the 50 lines.

Passing the signal line above the 50 level tells us that we can open the long trade with a great level of ease. Though it’s a powerful way to evaluate the situation of the market, still we have to be cautious about the losses. Investors who are greedy or don’t have a precise knowledge of risk management often become confused about certain trade setups. If possible develop the system with the help of the PA signals.

The PA signals should give you the confidence to take the trades at the most important levels with a great level of ease. So, study the PA signals along while learning the TCI V2 use.


TCI Indicator For MT5 - Sell Entries




Shorting an asset requires a well-balanced edge. Investors who don’t have any edge are betting without having any valid reason. Before you move to the use of the TCI indicator, remember, it is a confirmation tool. You are supposed to find the sell signal in the instrument before you take the reading from the TCI V2.

When the sell signal is formed at the important resistance level, it is time to look at the data from a different angle. Investors need to focus on the PA signals. People who don’t have skills on the PA pattern formation, should focus on the H4 and above time frame. The TCI V2 signal line should pass below the 50 line which is a strong indication.

As the green line in the trend confirmation index V2 indicator falls below the 50 lines, we can assume the price is ready to fall. But the investment is all about probability. People who think they can win big trades without zero losing trades have a lot to learn from this industry.

Everyone has to taste losing orders. The only way by which you can protect the capital is by following a standard risk management rule. Unless an investor is well versed with the risk management rule, it becomes a tough choice to improve the skills of a trader.

TCI Indicator For MT5 - Conclusion



Study the price dynamics! You must study the price dynamics on regular basis. It is very hard to sync yourself with the volatile instrument so chose an instrument that has a low level of volatility. Professional investors prefer the major currency pairs as the price movement is stable compared to other instruments. Backtest your existing trading strategy and be sure it has more than a 70% win rate.

When you find an opportunity to ride the trend, you should take the data from the TCI V2 indicator. The TCI V2 indicator gives the perfect opportunity to open the long or short trades. But there is a small problem when you depend on the trend trading indicator like TCI V2.

You have to be selecting the higher time frame to improve the results in each trade. The main function of the TCI V2 is to work as a filter. When you get used to the TCI V2 indicator, you get the unique ability to scale up the lot size. Investors should be concerned about the risk exposure level from the start. If anyone fails to stick to the rules of money management, it is going to be a big challenge to protect the capital even after using the TCI V2 indicator.

 

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I'm Mike Semlitsch the owner of PerfectTrendSystem.com. My trading career started in 2007. Since 2013 I have helped thousands of traders to take their trading to the next level. Many of them are now constantly profitable traders. 

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