Introduction to the Secret Profit Levels Indicator
The Secret Profit Levels indicator is a complete trading formula that provides traders with the forex entry point, take profit target 1 level and take profit target 2 level.
You will find two zones on the chart. When the price breaks into the green zone, it works as a buy signal. Similarly, when the price breaks into the red zone, it works as a sell signal. Take profit area is displayed in the form of a triangle.
It fits all kinds of timeframes and currency pairs.
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
Signals provided by the Secret Profit Levels Indicator are really intuitive and easy to understand. Simply follow the suggestions below. Trade only in the direction of the triangle.
Buy Entry: Open long trade when the price hits the upper SPL green zone. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the price hits the lower SPL red zone. Place your stop loss a few pips above the last swing high.
Exit Trade / Take Profit: Close half of the open position at TP1 and the remaining half at TP2.
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.
Example of AUD/CAD H1 Chart
This screenshot below shows an example of the Secret Profit Levels Indicator in action.
How to set up the Secret Profit Levels indicator in MT4?
Copy and paste the SecretProfitLevels.ex4 or SecretProfitLevels.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 Secret Profit Levels indicator 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.
Secret Profit Levels Indicator Free Download
To download the Secret Profit Levels Indicator for Metatrader 4 (MT4) for free just click the button below: