Forex Signals Indicator

The Forex Signals indicator is one of the most simple indicators out there. It gives straightforward trading. The indicator draws a channel that provides the stop loss and takes profits levels. It also posts arrows, showing you when to enter long and short positions. The indicator works best for scalping. You, therefore, want to use it in one lower time frame. But you can use it to trade any instrument.

How to Trade With the Forex Signals Indicator

As mentioned, trading with this indicator is simple and straightforward. You simply need to wait for the indicator to post an arrow.

A buy signal appears when the indicator posts a green arrow. Place a stop loss below the green line and take profit at the red line.

Similarly., it posts a sell signal when a red arrow appears. See the stop loss pips above the red line and take profit at the green line.

Trading Example

The pictures show price movement for the US dollar against the Switzerland franc. Notice how the price rises when the indicator posts a green arrow and dips when the indicators post a red arrow. The channel indicates the range within which the market will trend within a certain time.

You should therefore set your stop loss and profit target at the line. For short positions, the profit target should be at the green line, while the take profit target of buy orders should be at the red line.

Conclusion

Forex signals is a trading tool that shows the price direction and gives buy and sell signals. The buy signal appears when the indicator draws a green arrow and the short signal when the indicator dares a red arrow.