Dynamic Cycle Explorer Indicator
Platform: MT4 Type: Channel Last update: October 19, 2024The 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.
Using the Dynamic Cycle Explorer in practice
Signals provided by the Dynamic Cycle Explorer 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.
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