Forex Profit Boost Trend Indicator: Determining the Phase and Strength of the Trend
Forex Profit Boost indicator belongs to the category of trending and allows you to determine the strength and phase of the current trend. Its action is based on two moving averages и Bollinger Bands.
Each trend phase is indicated by a histogram of the corresponding color:
- Red is a downward trend.
- Blue is an upward trend.
- Yellow - the fading of the current trend, a likely change trend, the beginning of a correction or a flat. The probability increases depending on the number of yellow bars.
Using the Forex Profit Boost Indicator in Trading
To enter the market by the signals of the Forex Profit Boost indicator you can use two methods - aggressive and conservative:
- The aggressive method involves entering the market when the trend changes, that is, when the color of the bar chart changes from red to blue and vice versa.
- The conservative method involves entering the market after a pullback in the emergence of a new trend, that is, after the reduction of the yellow bars of the histogram.
Since Forex Profit Boost indicator is trending, the experts at ForTrader.org recommend that it be used in conjunction with any oscillator to filter false signals. According to the authors of the indicator, it works on any timeframe, but according to our experts, the most effective will be to use the indicator Forex Profit Boost on intervals from H4 and above.
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