Introduction to the Dynamic Cycle Explorer Indicator
The Dynamic Cycle Explorer Indicator is a custom forex trading tool that utilizes the swing trading technique. The signals provided by this forex indicator are based on crossovers. Additionally, it gives buy/sell arrows for trade entries and exits.
The Dynamic Cycle Explorer Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. 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 does it work? How to apply in trading?
Trading Rules Explanation
Signals provided by the Dynamic Cycle Explorer Indicator are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy Entry: Open long trade when the yellow and blue signal lines go outside the indicator’s lower band (grey color). It should happen in conjunction with an upside arrow appearing. Trigger the transaction when both conditions are met. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the yellow and blue signal lines go outside the indicator’s higher band (grey color). It should happen in conjunction with a down arrow appearing. Trigger the transaction when both conditions are met. Place your stop loss a few pips above the last swing high.
Exit Trade / Take Profit: Close your open position when an opposite signal occurs, or use your own preferred method of trade exit.
Attention: after further testing, it seems like this forex indicator is repainting its signals. Use cautiously.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Dynamic Cycle Explorer indicator in MetaTrader (MT4)?
Download the Dynamic Cycle Explorer.rar archive at the bottom of this post, unpack it, then copy and paste the Dynamic Cycle Explorer.ex4 or Dynamic Cycle Explorer.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 Dynamic Cycle Explorer 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Dynamic Cycle Explorer Indicator
To download the Dynamic Cycle Explorer Indicator for Metatrader 4 (MT4) for free just click the button below: