Retracement Finder is a forex trading indicator. It is a very simple forex indicator. The Retracement Finder is a very powerful trading indicator. The Retracement finder forex indicator is well-tested. During testing, the Retracement finder indicator performed very well and generated an accuracy of over 80%. To any forex trader, 80% of accuracy is not a joke. If the risk to reward ratio(R: R) is 1:2, one will still be profitable even when the accuracy is 50%. Can use a retracement finder indicator to trade currency pairs in any time frame. Discipline is more important than anything else if one wants to succeed as a good trader.
When you install the Retracement Finder indicator in your trading platform, your chart should look like this:
Retracement Finder Forex Indicator
Retracement Finder consists of histograms that move in positive and negative territory. When the histogram in the positive part, the market is up trending, and when the histogram in negative territory, the mt4 market is down trending. However, you should not simply open trade on this concept. You should know the idea of the market trend. It would be best to buy when the histogram is in positive territory, and the market is trending. Similarly, it would be best to sell when the histogram is negative, and the market is down trending.
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Buying Conditions Using Retracement Finder Indicator
- The market should be up trending.
- The market should be rising from recent support.
- The Retracement Filter indicator should be positive.
- Place your long position(Buy) as soon as the above conditions are met.
- Place your stop loss(SL) below the recent chart swing low.
- Take your profit(TP) when the Retracement filter indicator falls into the negative territory.
Selling Conditions Using Retracement Finder Indicator
- The market should be down trending.
- The market should be falling from recent resistance.
- The Retracement Filter indicator should be negative.
- Place your short position(Sell) as fast as the above conditions are met.
- Place your stop loss(SL) just above the recent swing high.
- Take your profit(TP) when the Retracement filter indicator rises to the positive territory.
Retracement Finder Forex Indicator Free Download