Profiting Forex Trading
The video explains a winning strategy for Meta Trader 4, using a combination of four indicators. The strategy works on all time frames, but it is important to not trade against the trend on higher time frames. The indicators used include Super Trend Candle, Fibonacci, Wave and Arrow Indicators, Wedge Indicator, and MA. The video also includes links to regulated forex brokers and the indicators used.
How to Use a Winning Strategy on MetaTrader 4
If you’re an active trader on MetaTrader 4 (MT4), you’re always on the lookout for winning strategies that will help you stay ahead of the pack. This is where the combined use of several indicators on MT4, as explained by our expert in this article, can help you make successful trades. Here, we’ll take a closer look at how these indicators work together to give you the desired results, as well as their advantages and disadvantages.
Understanding the Indicators
Before delving into how to combine the indicators, it’s essential to understand what each indicator represents. For this strategy, the trader uses four indicators on the chart in this order:
1. The Wedge Indicator: This is a single indicator that automatically draws a line on the chart, indicating a potential breakout.
2. The Fibonacci Indicator: This is used to draw Fibonacci retracement lines (levels of support and resistance).
3. The Arrow Indicator: This interface shows buy or sell signals indicating an uptrend or a downtrend.
4. The Super Trend Candle: This shows a blue/red candlestick indicating an uptrend or downtrend.
Using the Strategy
The first thing to look out for is a level or zone, which is indicated on the chart with signals generated at specific points. For instance, there may be a fake breakout to the upside or a rejection at a particular zone. Here, the Wedge Indicator will come in handy because it’s an excellent tool for identifying potential breakouts. To confirm the breakout or rejection, you may want to check the Arrow Indicator, which provides a signal for a buying or selling opportunity.
If everything is in agreement, such as the color changes on the Super Trend Candle and the Arrow Indicator, then you’re ready to place your trade. Remember, the key to this strategy is to wait until all indicators are in agreement before entering a trade to avoid losses.
Advantages and Disadvantages
The advantage of this strategy is that it’s straightforward to use and has been proven to be profitable. Moreover, it works on any time frame, so if you’re in the mood to scalp on the one-minute time frame, it’s still a viable option. However, the disadvantage is that if the indicator disappears, you won’t have the chance to see the Arrow Indicator again. Instead, you will see a star-like sign on the chart, indicating that something happened at that point.
Choosing a Broker
When trading using a winning strategy like this one, it’s important to choose a regulated forex broker to avoid falling prey to fraudulent operators. In the video description, the trader provides links to some regulated brokers they’ve used in the past and believe are trustworthy.
Conclusion
If you’re looking for a reliable and effective winning strategy for trading on MT4, combining the Wedge Indicator, Fibonacci Indicator, Arrow Indicator, and Super Trend Candle will help increase your chances of trading in the right direction. Always remember to use all indicators in agreement before entering a trade to avoid losses, and make sure to choose a regulated broker.
