Figure out a ross hook chart pattern on a forex chart can be a big challenge for a new forex trader.
Luckily, there’s a ross hook pattern forex indicator mt4 that I’ve found online that can do the job for you much more quickly.
How This Ross Hook Forex Indicator Works
- Firstly it identifies the 123 Forex chart pattern, and then after that, it looks for the ross hook pattern. It can only form the ross hook pattern after forming the 123 chart pattern.
- Bullish ross hooks are marked green and written as “Rh,” and bearish ross hooks are marked red (see chart below).
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Ross Hook Forex Pattern Alerts
Another benefit of using this ross hook forex indicator is that it also has alerts that you can set to “true” or “false.”
You do this by going to the indicator “inputs” tab.
This is useful if you are in your house and doing something else and are not monitoring the forex charts, and once a ross hook pattern is identified, a pop-up alert with a sound can be generated.
Make sure you increase the volume on your computer to hear it from where you are in the house.
Also, you can enable the ross hook forex indicator to send you the alert to your email.
There are a handful of other inputs that you can customize. Once you’ve downloaded this ross hook mt4 indicator and uploaded it onto your chart, I’ll let you figure it out yourself.
How To Trade With The Ross Hook Forex Indicator MT4
Here are some tips on how to forex trade using the Ross hook forex indicator:
- do not try to chase and enter trade every ross hook chart pattern that forms on the charts generated by the ross hook indicator. I suggest trading those ross hook patterns in levels or zones of significance like support and resistance levels/zones.
- Look for the ross hook pattern when the price hits a significant trendline and retraces. If you miss trading off the chart trendline, then the ross hook chart pattern that forms later may allow you to jump in on a trade.
Ross Hook Forex Indicator Download Link
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