A cycle identifier forex indicator is an MT4 indicator that entry signals the completion of a forex market cycle to open a sell/buy order according to the entry signal.
This indicator plots entry signals in the form of red color and green color bars. It is simple to use, but the algorithm behind this forex indicator is complex and contains combinations of other forex technical indicators.
How does the Cycle identifier forex indicator work in MT4?
The cycle identifier forex indicator plots a grey color line in a separate window of MT4. This grey line acts as a forex oscillator that oscillates above and below the indicator zero line.
This line picks the signals from the forex RSI indicator, simple moving average indicator(SMA), and other setting parameters. Then the forex indicator shows an oscillation above or below the zero line.
Except for this grey color line, it also plots two bars of red and green color. These red and green color bars indicate the completion of bearish and bullish cycles, respectively. Then it generates sell entry and buy signals.
Cycle identifier forex indicator signals
Here are the simple criteria to open buy entry or sell positions. However, you can also use this forex indicator’s strategy to get profitable results.
Open buy trade
When the grey color line of the price cycle identifier forex indicator oscillates below the zero line with a green color bar, open a buy entry trade. This is an indication of the start of a new buy price cycle.
Open sell trade
When the grey color line of the cycle oscillates above the chart zero line with a red color bar, open a sell entry trade. It indicates the start of a sell market or bearish market cycle.
Chart Price constantly forms cycles. After the completion of one price cycle, the following price cycle will start. This forex indicator identifies the end of a price cycle and then alerts before a new price cycle starts. So we can trade accordingly.