The Sanefx Binary MT4 indicator is an excellent forex trading tool for scalpers. It provides buy and sell arrow trading reversal signals. Mainly, these early entry and exit trading signals enables the trader to scalp the markets profitably.
Features of Sanefx Binary MT4 Indicator
The indicator plots red bearish down arrow signals and green bullish buy arrows on the price chart. It calculates the trading signals based on a combination of moving averages. Interestingly, the indicator calculates the crossover, current price and previous closing price to identify the best entry and exit points. This method of calculation differentiates this moving average based indicator from other similar technical indicators.
Since the indicator is designed to provide early entry and exit signals. It is important to note that during low price movements the indicator may provide multiple choppy trading signals. So, this indicator is more profitable in markets with ample volatility like the US session or during the overlapping of the European and US market sessions.
The trading strategy is to buy and sell upon the appearance of the trading signals and exit at an opposite trading signal. The default indicator settings are hard—coded and work perfectly. So, the user input settings are to enable/disable the sound alerts.
Benefits of Sanefx Binary MT4 Indicator
The indicator provides simple arrow based forex signals suitable for beginners and new forex traders. Scalpers will benefit the most, in higher time frames or intraday chart time frames it provides tight entry and exits. However, short and long-term traders may not get a good risk-reward ratio using this indicator.
In fact, traders can use this signals in confluence with other indicator for technical analysis or trading signal confirmation. Additionally, traders can formulate auto trading strategies using this indicator.
Indicator Settings Description
SoundON: Enables sound alert on buy and sell arrow trading signals.
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