Introduction to the Agimat Reversal Indicator
The Agimat Reversal indicator is based on the zigzag reversal patterns and therefore offers great entry points and exit points.
The indicator recognizes the tops and bottoms of the market. It marks these levels with arrows.
Once the forex indicator displays a UP arrow, a trader can place a BUY order. The trader can hold the open order till the indicator signals a trend reversal by an arrow in the opposite direction. Thus the indicator enables the trader to ride the entire trend. The same goes for DOWN arrow, a trader can place a SELL order.
The best place for placing a Stop Loss is the last swing low or high. Similarly, the next reversal arrow is the best moment to take profit. However, traders may decide to book profits with a preferable risk and reward ratio.
The indicator is displayed directly on the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Agimat Reversal indicator in MT4?
Download the Agimat Reversal.rar archive at the bottom of this post, unpack it, then copy and paste the Agimat Reversal.ex4 or Agimat Reversal.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Agimat Reversal indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Download Free Forex MT4 Agimat Reversal Indicator
To download the Agimat Reversal Indicator for Metatrader 4 (MT4) for free just click the button below: