Forex Profit Boost Indicator
Platform: MT4 Type: Trend Last update: October 6, 2024The Forex Profit Boost indicator is a trend-following tool, that can be also used as a reversal indicator.
With the help of that gauge, you will easily know when the new trend is starting and when the current one is ending.
The best results with the indicator you will get during strong trending market conditions, therefore it may be noisy during the sideways market.
How to use the forex profit boost?
Signals provided by the Forex Profit Boost Indicator are really intuitive and easy to understand. Simply follow the suggestions below.
In the beginning, find the obviously trending currency pair.
Buy Entry: Open long trade when the rising blue bar appears and the market is uptrending. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the rising red bar appears and the market is downtrending. Place your stop loss a few pips below the last swing high.
Exit Trade / Take Profit: Close your open position when the price reaches an important support/resistance level or the opposite signal appears.
Example of EUR/USD H4 Chart
This screenshot below shows an example of the Forex Profit Boost Indicator in action. In the case below you can notice both types of trades: in the direction of the main trend, and the reversal trade.
