This forex indicator was submitted for forex traders. It is a noble indicator to incorporate into your trading strategy. The indicator is designed so that it requires not much forex understanding of the live forex market. The forex indicator working process is somehow similar to the forex MACD. The indicator is straightforward and effective.
The indicator is shown on a different mt4 chart, generally below the main mt4 trading chart, once loaded onto the forex MT4 platform. This has a curve that moves in conjunction with the live forex market. It also has some bars that form. The curve and the bars are on the upper or lower side of a zero line. The indicator creates a histogram.
Fig.1. Showing the forex Forbi Predictor indicator.
If you look at the above mt4 chart, you notice that the Forbi Predictor indicator moves precisely as the market prices move. The only difference is that the indicator has a zero line where it oscillates about. Forbi Predictor indicator moves away from the zero line when indicating a rise in the market prices. The forex indicator also moves down below the zero line when indicating that there is a drop in the market prices.
Then when the market prices consolidate at a certain level for a long time without varying by too many pips, the histogram of the forex Forbi Predictor mt4 indicator moves closer to the indicator zero line, waiting to either move up or downward away from the zero line again.
By looking at the indicator gradient of the curve of the forex indicator’s histogram, you can quickly tell whether the forex indicator and consequently the market prices are to rise or fall. When the gradient is steep, the market is likely to continue in the direction it’s in at that particular moment.
Fig.2. Interpreting the forex market price movements using the Forbi Predictor mt4 indicator.
When the indicator gradient is positive and very steep, then the forex market prices are on the rise. Otherwise, if the indicator gradient is steep but negative, the market prices decline. When the histogram curve is somehow ‘even’ (not steep), you should look forward to dormant forex market prices. Therefore, by looking at the Forbi Predictor indicator, a trader can determine what the forex market prices are preparing to do. With this knowledge, the forex trader is bound to make profits while trading.
How to open positions using the forex Forbi Predictor indicator
Placing a buy:
for you to put a buy order, the indicator’s histogram must be above the zero line. However, you have to watch until the indicator gradient of the histogram is steep and positive. After putting a buy order, place a stop loss at around ten pips and a take profit(TP) at around 15 pips, depending on how far the histogram has moved away from the zero line. If it is far from the zero line, then be careful and target a small profit. Otherwise, if it’s just near the indicator zero line, then you may target 10-15 pips.
Fig.3. Placing a buy using the forex Forbi Predictor indicator.
Placing a sell:
for you to put a sell order, the indicator’s histogram must be below the zero line. However, you have to watch until the indicator gradient of the histogram is steep and negative. After putting a sell order, place a stop loss at around ten pips and a take profit at around 15 pips, depending on how far the histogram has moved away from the zero line. If it is far from the zero line, then be careful and target a small profit. Otherwise, if it’s just near the zero line, then you may target 15 pips.
Fig.4. Placing a sell using the Forbi Predictor indicator.
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Forbi Predictor Forex Indicator Free Download