Forex Sunrise Indicator
Platform: MT4 Type: Market Levels Last update: November 16, 2024The Forex Sunrise Indicator for MT4 is all about trading between two important zones. They are calculated in orde to provide accurate levels where price reacts, thus offer high-probability trades. The best timeframes for this are between M15 and H1.
It consists of the following elements:
- so-called Buy Hall and Sell Hall which basically are support and resistance
- custom-algo moving average
Example chart:
How to trade with the forex sunrise indicator for mt4?
The pre-trade checklist involves two steps. First, the dotted signal line must turn pink for short positions or blue for long positions. Next, the price should approach the Buy/Sell Hall, and depending on the action, it will either reject or break these levels. Essientially, these are triggers for entries.
Take a look at this CAD/JPY H1 chart.
As you can see, the price is coming from the lower part of screen. It broke the bullish zone and there was beautiful impulse to the upside. Then it seems, it’s rejecting the resistance, therefore potential sell signal is forming. Traders should watch for MA to turn pink. What’s more, the distance to the support should be reasonable to have risk-reward worth it.
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