This is a combination of Venom A and Venom B forex indicators. These two forex indicators are independently functional, but they have to be used together for the forex trader to get the best results.
The Venom A forex indicator is mainly responsible for displaying information on the main trading chart. This indicator shows the date, time, the mt4 currency pair being traded, the current chart price, and the color of the buy entry and the sell signals. When you look at the left chart corner, you will realize that there are two texts; ‘BUY SIGNAL’ and ‘SELL SIGNAL.’ The buy entry signal text is green in color hence showing that the signals that the Venom B indicator will give for the buy entry signal are green in color. In the same way, the sell entry signal text is red, showing that the entry signals that the Venom B forex indicator will be giving as sell signals will be red. This forex indicator has nothing to do with you placing your orders. It only lets you understand what Venom B will be displaying.
Fig.1. The Venom A indicator alone.
On the other side, the Venom B indicator is displayed on a separate chart below the main trading chart. It says the signals that are given by other Venom indicators, which are from Venom 1 to Venom 6. For each of these venoms indicators, the indicator shows the chart support and resistance levels. Then below all these, this forex indicator displays a positional bias which is the overall signal of each of the six venoms. As indicated by Venom A, the color of the entry signals given by the six Venom indicators is either red or green color. The signals are in the form of color arrows. The red color arrow points down while the green color arrow points up. Also, the color of the dots representing the positional bias is green or red. In everything, the red color shows a downward trend while the green shows an uptrend.
Fig.2. The Venom B forex indicator loaded on the MT4 alone.
Placing orders using the Venom indicators
To place an order, you have to get a signal from the Venom B forex indicator that is displayed below the main mt4 trading chart.
For the trader to buy entry, all the six venoms have to have green color arrows, and all their color dots have to be green color also. This is the main thing to look for.
For the forex trader to place a sale, all the six venoms display red color arrows. Then all the color dots of the position bias have also to be red.
Venom Forex Indicators Showing when to place the different orders.
Venom Forex Indicators Free Download