Fx cash Formula is a forex trading indicator. FX cash formula forex trading indicator is unique due to its unique signal generating system. Usually, we see forex trading indicators generate trading signals based on moving averages, RSI, and similar technical indicators. Fx Cash formula generates a trading signal based on overbought and oversold conditions. Fx cash formula is a straightforward trading system. It consists of an Fx cash formula forex indicator which can be seen at the bottom of your mt4 chart. The Fx cash formula forex indicator consists of two forex moving averages, red and green, and a dashed line fluctuates within the range of these two moving averages. The mt4 moving average on the top indicates the overbought market conditions, while the mt4 moving average at the bottom indicates the oversold market conditions.
We want to buy in highly oversold conditions and sell in highly overbought conditions. Although we can use the Fx cash formula in any market condition, it is highly recommended that you trade in a trending forex market because the signals are more reliable in an mt4 trending market. Also, make sure you trade only in the major trend direction. At least by doing this, there are chances of odds being in your favor.
When you install the Fx Cash Formula indicator on your trading system, your chart should look like this:
Another advantage of the Fx cash formula trading indicator is it provides a signal alert to its users. You can see above how this indicator trading system gives you an alert for your entries. The Alert system tells you which currency pair to trade, what to do (long or short), and when.
When you are looking for a long(buy) position, make sure that the moving averages of the Fx cash formula indicator are trending higher. Similarly, when you are looking to short(Sell) any currency pair, make sure that the fx moving averages are trending down. You should open a long entry only when the dashed moving average touches the green color moving average. Conversely, you should open a short entry only when the dashed moving average touches the red moving average.
Buying Conditions using Fx Cash Formula
- The red and green moving averages should be up trending overall.
- The dashed moving average should touch the green moving average and trend higher.
- Put your long entry as soon as the above conditions are met.
- Put your stop loss just below the recent swing low.
- Take profit when the dashed moving average falls back to touch the red moving average.
Selling Conditions Using Fx Cash Formula
- The red and green moving averages should be down trending overall.
- The dashed moving average should touch the red moving average and trend lower.
- Put your short entry as soon as the above conditions are met.
- Put your stop loss just above the recent swing high.
- Take profit when the dashed moving average rises higher to touch the green moving average.
Read More: Best Binary Indicator For FREE Download
FX Cash Formula Forex Indicator Free Download