Tangoline indicator is a simple forex trading indicator. It’s a straightforward beginner-friendly forex indicator. Tangoline indicator is a highly profitable forex indicator. The Tangoline forex indicator generates market buy and sell entry signals at the right time and price. The most beautiful part of this forex indicator is that it works beautifully in all mt4 time frames. Where it is a one-minute chart of it is a weekly chart. However, since the Tangoline indicator is a trend following the forex trading indicator, it works in a trending market. It should be avoided entirely Tangoline indicator in non-trending market conditions.
When you install the forex Tangoline indicator, your chart should look like this:
Tangoline Forex indicator
The Tangoline indicator consists of three bands. The indicator upper band works as a resistance, and the lower band supports. The middle band tells you about the mt4 market direction. When the market is above the indicator middle band, it indicates that it is trending. And when the market is below the indicator middle band, it indicates that it is down trending.
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Buying Conditions Using Tangoline Forex Indicator
- The market should be going up.
- The market should be rising from the recent chart support.
- The market should cross above the middle indicator band of the Tangoline
- Place your long position(Buy) as soon as the above conditions are met.
- Place your stop loss(SL) just below the recent swing low.
- Take your profit(TP) when the market falls below the middle band.
Selling Conditions Using Tangoline Forex Indicator
- The market should be going down.
- The market should be falling from the chart’s recent resistance.
- The market should cross below the indicator middle band of the Tangoline
- Place your short position(Sell) as soon as the above conditions are met.
- Place your stop loss(SL) just above the recent swing high.
- Take your profit(TP) when the market rises above the middle band.
Tangoline Forex Indicator Free Download