Introduction to the Kuskus Starlight Indicator
The Kuskus Starlight Indicator is an excellent forex trend identifying gauge. It works in a similar manner to the oscillator and therefore, it represents the simplest possible way for demonstrating the direction and strength of these market trends. Besides experienced forex traders, beginners also appreciate this trend detector for its high signal accuracy and simplicity of use.
The Kuskus Starlight Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below 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 Kuskus Starlight Indicator uses a 30-period moving average to watch the high, low, and closing price of the candlesticks. It is applied for determining the trend value of the currency pair. The trading signals are shown in the form of small colored crosses displayed within the indicator’s window. The principle applied here is simple: when crosses turn blue and their value rises above the zero level, the market is considered bullish. Alternatively, when crosses turn red and their value drops below the zero level, the market is considered bearish.
Follow these steps for a long trade:
- Kuskus Starlight crosses rise above 0 level
- 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 candle corresponding to the last cross below 0 level
- Take profit or exit trade whenever the Kuskus Starlight provides opposite signal or use your own method of trade exit
Follow these steps for a short trade:
- Kuskus Starlight crosses decline below 0 level
- 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 candle corresponding to the last cross above 0 level
- Take profit or exit trade whenever the Kuskus Starlight provides opposite arrow or use your own method of trade exit
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 Kuskus Starlight indicator in MT4?
Download the Kuskus Starlight.rar archive at the bottom of this post, unpack it, then copy and paste the Kuskus Starlight.ex4 or Kuskus Starlight.mq4 indicator 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 Kuskus Starlight indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, 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.
Download Free Forex MT4 Kuskus Starlight Indicator
To download the Kuskus Starlight Indicator for Metatrader 4 (MT4) for free just click the button below: