Forex Olympus Indicator
Platform: MT4 Type: Trend Last update: September 28, 2024The Forex Olympus Indicator is a trend-following forex indicator that, in essence, works in a very similar way to the Half Trend Buy/Sell Indicator. Nonetheless, it is a very interesting gauge that provides solid and accurate trading signals. It works the best during strong market swings.
Usage suggestions for forex olympus
The Forex Olympus Indicator is equipped with three trading modes: Moderate (low risk and low return), Neutral (optimal risk to reward ratio), and Intense (highest risk and highest profit). The core of the indicator is a signal line that triggers the trades. It is blue when the trend momentum is bullish. Conversely, it is yellow when the trend momentum is bearish.
Buy Signal
Follow these steps for a long trade:
- The Forex Olympus indicator switches from yellow to blue
- 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 swing low of the market
- Take profit or exit trade whenever it provides opposite signal, or use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- The Forex Olympus indicator switches from blue to yellow
- 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 swing high of the market
- Take profit or exit trade whenever it provides opposite signal, or use your own method of trade exit
