Introduction to the Sidus V3 Indicator
The Sidus V3 indicator is a popular custom forex trading indicator displaying two moving averages and buy/sell arrows.
It is a trend following indicator and it generates signals based on moving average crossover. The indicator draws the arrows at the intersection of the MA and the RSI at the 50 level.
Simplified trading rules with Sidus indicator are the following:
- Open long trade after buy arrow appeared and the current candle has closed. Place your stop loss after few pips below the last swing low.
- Open short trade after sell arrow appeared and the current candle has closed. Place your stop loss after few pips above the last swing high.
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.
Important note. Sometimes when it put an arrow at the current bar, the price continues moving in the former direction, but it doesn’t remove these arrows. That issue makes it a NOT no-repainting indicator.
Fiji Trend Indicator
How does it work? How to apply in trading?
Trading Rules Explanation
Signals provided by that gauge are really intuitive and will not cause you difficulties. Simply follow the suggestions below.
Buy Trade with Sidus
Although the Sidus generates trading signals on its own, we suggest using it in conjunction with some kind of filter. In the examples below we use it with the Daily Pivot Points indicator providing important market levels at which the price really reacts. Putting them together allows getting reliable and accurate signals.
After you get familiar with Support&Resistance Levels and Pivot Points for the current day, you should be looking for price action rejecting a support level. The next step is the occurrence of an aqua arrow pointing up. This is a triggering point and you should open long trade now. Set your Stop Loss below the last swing low of the market and set your Take Profit at another important market level or once your trade hits the 1:2 risk to reward ratio.
Sell Trade with Sidus
Similarly, after you get familiar with Support&Resistance Levels and Pivot Points for the current day, you should be looking for price action rejecting a resistance level. The next step is the occurrence of a yellow arrow pointing down. This is a triggering point and you should open sell trade now. Set your Stop Loss above the last swing high of the market and set your Take Profit at another important market level or once your trade hits the 1:2 risk to reward ratio.
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 Sidus V3 indicator in MT4?
Download the Sidus V3.rar archive at the bottom of this post, unpack it, then copy and paste the Sidus V3.ex4 or Sidus V3.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 Sidus V3 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 Sidus V3 Indicator
To download the Sidus V3 Indicator for Metatrader 4 (MT4) for free just click the button below: