Introduction to the Forex Indicators 96
The Forex Indicators 96 is, according to its developers, a non-repaint forex technical analysis indicator used to forecast price changes in the currency market. By using the SFI indicator, traders can make decisions about market entries and exits. Authors of that tool claim astonishing accuracy of above 95%. Of course, it means there are wrong signals, but the rate of winning signals is higher than the wrong ones in long term. After quick glance at the chart, you can notice that the signals provided are solid and highly accurate.
The Forex Indicators 96 fits all kinds of timeframes and currency pairs. It is displayed directly on 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
The Forex Indicators 96 system uses a blue and red circles as trading signals. The red circle contains the ‘9’ mark and indicates a bearish trend. Conversely, the blue circle contains the ‘6’ mark and indicates a bullish trend.
Important notice from the Forex Racer team: although the developers of the Forex 96 Indicators claim it is a non-repaint trading system, we have manually checked it to verify. Unfortunately, our tests have proved that it repaints.
Follow these steps for a long trade:
- A blue forex ‘6’ circle appears
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last provided circle
- Take profit or exit trade whenever the red forex ‘9’ circle appears
Follow these steps for a short trade:
- A red forex ‘9’ circle appears
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last provided circle
- Take profit or exit trade whenever the blue forex ‘6’ circle appears
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 Forex Indicators 96 in MT4?
Download the Forex Indicators 96.rar archive at the bottom of this post, unpack it, then copy and paste the Forex 96 Indicator.ex4 or Forex 96 Indicator.mq4 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 Forex Indicators 96 is well worth adding to your trading collection but 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.
Forex Indicators 96 Free Download
To download the Forex Indicators 96 for Metatrader 4 (MT4) for free just click the button below: