Diamond Price Action is a forex trading indicator that may even reach 80-90% accuracy and it generates no repaint buy and sell signals. These signals occur at the opening of a new candle and form three levels of profit targets.
The core of this indicator is finding and showing the 6 best price action patterns, that are the following: Rising Star, Fallen Star, Light in Clouds, Dark Veil, Three White Soldiers, Three Black Crows. When one of these patterns is found, the indicator presents arrows – it is the buy or sell trading signal. Additionally, the Diamond Price Action formula gives three profit targets with a sound alert.
How to trade with the Diamond Price Action Indicator?
When trading the Diamond Price Action indicator, you should only follow the arrows signals. Open long order (buy trade) when you see an arrow pointing up and set your Take Profit at one of the specified levels. Open short order (sell trade) when you see an arrow pointing down and set your Take Profit at one of the specified levels. We suggest taking profit at the Minimum or Medium Profit level. Maximum Profit is for more risky and aggressive trading.
How to install the Diamond Price Action Indicator on your Metatrader 4 trading plaftform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the Diamond Price Action Indicator files into following folder of your Metatrader 4 (MT4) platform: MQL4 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL4 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the indicator
- Browse “Custom Indicators” in your Navigator that is located on the left in your Metatrader 4 platform.
- Right click on Diamond_Price_Action_Signals Indicator.mq4 and than click “Attach to the chart”.
- You can modify settings if you need and than click ok.
- The indicator is ready and running on the chart.
In the archives you will find following Metatrader 4 files included:
- Diamond_Price_Action_Signals Indicator.mq4
Diamond Price Action Indicator Free Download
To download the Diamond Price Action Indicator for Metatrader 4 (MT4) for free just click the button below: